UBS Asset Management Americas Inc. Increases Stock Position in Okta, Inc. (NASDAQ:OKTA)

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UBS Asset Management Americas Inc. boosted its position in Okta, Inc. (NASDAQ:OKTA) by 19.4% during the fourth quarter, Holdings reports. The fund owned 479,795 shares of the company’s stock after acquiring an additional 77,846 shares during the period. UBS Asset Management Americas Inc.’s holdings in Okta were worth $121,993,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in OKTA. Black Swift Group LLC bought a new position in shares of Okta during the fourth quarter valued at about $25,000. Addison Advisors LLC purchased a new position in Okta during the 4th quarter valued at about $25,000. Eudaimonia Partners LLC purchased a new position in Okta during the 3rd quarter valued at about $28,000. International Assets Investment Management LLC bought a new position in Okta during the 4th quarter valued at approximately $28,000. Finally, Arkadios Wealth Advisors purchased a new stake in Okta in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 75.77% of the company’s stock.

In related news, CAO Christopher K. Kramer sold 940 shares of Okta stock in a transaction dated Friday, January 15th. The stock was sold at an average price of $260.99, for a total value of $245,330.60. Following the completion of the sale, the chief accounting officer now directly owns 6,089 shares in the company, valued at approximately $1,589,168.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charles Race sold 50,000 shares of the business’s stock in a transaction dated Friday, January 8th. The stock was sold at an average price of $251.89, for a total value of $12,594,500.00. Following the completion of the transaction, the insider now directly owns 81,559 shares of the company’s stock, valued at approximately $20,543,896.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 169,208 shares of company stock valued at $41,790,580. 12.02% of the stock is owned by company insiders.

Shares of OKTA stock opened at $222.56 on Thursday. The company has a market capitalization of $29.20 billion, a price-to-earnings ratio of -115.32 and a beta of 0.99. The company has a debt-to-equity ratio of 2.51, a quick ratio of 4.80 and a current ratio of 4.80. Okta, Inc. has a one year low of $125.34 and a one year high of $294.00. The company’s 50-day moving average is $237.37 and its 200 day moving average is $242.69.

Okta (NASDAQ:OKTA) last issued its earnings results on Tuesday, March 2nd. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.07. Okta had a negative net margin of 31.38% and a negative return on equity of 31.29%. The firm had revenue of $234.74 million for the quarter, compared to the consensus estimate of $221.99 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. The business’s revenue was up 40.3% on a year-over-year basis. As a group, research analysts predict that Okta, Inc. will post -1.31 earnings per share for the current fiscal year.

A number of equities analysts recently commented on OKTA shares. KeyCorp upped their target price on Okta from $282.00 to $313.00 in a report on Monday, December 21st. Oppenheimer reaffirmed an “outperform” rating and issued a $295.00 target price on shares of Okta in a research report on Thursday, February 11th. Piper Sandler reduced their price target on shares of Okta from $250.00 to $235.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 10th. DA Davidson raised their price objective on shares of Okta from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, March 4th. Finally, TheStreet cut Okta from a “c-” rating to a “d+” rating in a research report on Friday, March 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $261.32.

Okta Profile

Okta, Inc provides identity management platform for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; and Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials.

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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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