CANADA LIFE ASSURANCE Co Boosts Stock Position in Okta, Inc. (NASDAQ:OKTA)

CANADA LIFE ASSURANCE Co boosted its position in Okta, Inc. (NASDAQ:OKTA) by 14.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 229,105 shares of the company’s stock after purchasing an additional 28,183 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.14% of Okta worth $23,976,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OKTA. Cerity Partners LLC grew its stake in shares of Okta by 6,192.3% during the 4th quarter. Cerity Partners LLC now owns 3,172,223 shares of the company’s stock valued at $287,181,000 after buying an additional 3,121,809 shares during the period. Sands Capital Management LLC raised its holdings in shares of Okta by 42.3% in the 4th quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company’s stock worth $756,687,000 after purchasing an additional 2,486,456 shares during the period. Norges Bank acquired a new position in shares of Okta in the 4th quarter valued at about $150,794,000. First Trust Advisors LP grew its holdings in shares of Okta by 28.1% during the 4th quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock worth $369,854,000 after purchasing an additional 897,216 shares during the period. Finally, Point72 Asset Management L.P. increased its position in Okta by 1,465.8% during the 4th quarter. Point72 Asset Management L.P. now owns 682,900 shares of the company’s stock worth $61,823,000 after purchasing an additional 732,900 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on OKTA shares. BMO Capital Markets dropped their price objective on shares of Okta from $110.00 to $100.00 and set a “market perform” rating on the stock in a research note on Monday, June 3rd. Guggenheim restated a “buy” rating and set a $130.00 target price on shares of Okta in a research note on Tuesday, June 25th. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price target on shares of Okta in a research note on Thursday, May 30th. Wedbush restated an “outperform” rating and set a $130.00 price objective on shares of Okta in a research note on Wednesday, May 29th. Finally, Susquehanna decreased their price target on shares of Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Nineteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $105.58.

Okta Trading Up 0.5 %

NASDAQ OKTA opened at $93.11 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.73 and a quick ratio of 1.73. The stock’s 50-day moving average is $93.04 and its 200-day moving average is $93.91. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50. The firm has a market cap of $15.66 billion, a P/E ratio of -55.75 and a beta of 1.03.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, May 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.27. The firm had revenue of $617.00 million for the quarter, compared to the consensus estimate of $604.33 million. Okta had a negative return on equity of 3.81% and a negative net margin of 11.69%. Sell-side analysts anticipate that Okta, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jacques Frederic Kerrest sold 1,552 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $86.99, for a total transaction of $135,008.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Jacques Frederic Kerrest sold 1,552 shares of Okta stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $86.99, for a total transaction of $135,008.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 2,792 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $99.40, for a total transaction of $277,524.80. Following the sale, the insider now owns 29,809 shares of the company’s stock, valued at $2,963,014.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 362,256 shares of company stock worth $34,154,578. Insiders own 7.00% of the company’s stock.

Okta Company Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.