Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Okta, Inc. (NASDAQ:OKTA) by 8,745.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,967 shares of the company’s stock after acquiring an additional 33,583 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Okta were worth $8,636,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Black Swift Group LLC acquired a new stake in Okta during the fourth quarter valued at approximately $25,000. Addison Advisors LLC bought a new position in shares of Okta in the fourth quarter valued at $25,000. Eudaimonia Partners LLC acquired a new stake in shares of Okta during the 3rd quarter valued at $28,000. International Assets Investment Management LLC bought a new stake in shares of Okta during the 4th quarter worth $28,000. Finally, Arkadios Wealth Advisors acquired a new position in shares of Okta in the 4th quarter worth $29,000. Institutional investors own 75.77% of the company’s stock.
In other news, insider Charles Race sold 50,000 shares of the business’s stock in a transaction on Friday, January 8th. The shares were sold at an average price of $251.89, for a total value of $12,594,500.00. Following the sale, the insider now owns 81,559 shares in the company, valued at approximately $20,543,896.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacques Frederic Kerrest sold 6,276 shares of the company’s stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $228.81, for a total transaction of $1,436,011.56. Insiders have sold 169,208 shares of company stock worth $41,790,580 over the last ninety days. Company insiders own 12.02% of the company’s stock.
Okta (NASDAQ:OKTA) last issued its earnings results on Tuesday, March 2nd. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.07. The business had revenue of $234.74 million for the quarter, compared to analyst estimates of $221.99 million. Okta had a negative net margin of 31.38% and a negative return on equity of 31.29%. The firm’s revenue was up 40.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.01) EPS. On average, equities research analysts expect that Okta, Inc. will post -1.31 EPS for the current fiscal year.
OKTA has been the subject of a number of recent analyst reports. Canaccord Genuity upgraded Okta from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research report on Wednesday, March 10th. TheStreet cut shares of Okta from a “c-” rating to a “d+” rating in a report on Friday, March 19th. JPMorgan Chase & Co. downgraded shares of Okta from an “overweight” rating to a “neutral” rating and set a $258.00 target price on the stock. in a research note on Wednesday, December 9th. Morgan Stanley raised their price target on shares of Okta from $250.00 to $275.00 and gave the stock an “equal weight” rating in a report on Friday, January 8th. Finally, BMO Capital Markets cut their price target on Okta from $285.00 to $265.00 and set an “outperform” rating for the company in a research note on Thursday, March 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $261.32.
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.
Further Reading: Buyback
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