People s United Financial Inc. Sells 80 Shares of Okta, Inc. (NASDAQ:OKTA)

People s United Financial Inc. trimmed its stake in Okta, Inc. (NASDAQ:OKTA) by 3.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,033 shares of the company’s stock after selling 80 shares during the period. People s United Financial Inc.’s holdings in Okta were worth $497,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its holdings in Okta by 175.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,162,118 shares of the company’s stock valued at $1,799,176,000 after buying an additional 5,194,998 shares during the last quarter. Capital International Investors grew its holdings in Okta by 26.9% in the 1st quarter. Capital International Investors now owns 2,294,049 shares of the company’s stock valued at $505,677,000 after buying an additional 485,849 shares during the last quarter. American Century Companies Inc. grew its holdings in Okta by 122.9% in the 2nd quarter. American Century Companies Inc. now owns 1,797,227 shares of the company’s stock valued at $439,745,000 after buying an additional 990,869 shares during the last quarter. Scge Management L.P. grew its holdings in Okta by 14.4% in the 1st quarter. Scge Management L.P. now owns 1,787,000 shares of the company’s stock valued at $393,908,000 after buying an additional 224,981 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Okta by 7.5% in the 1st quarter. Geode Capital Management LLC now owns 1,486,621 shares of the company’s stock valued at $327,259,000 after buying an additional 103,349 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Shares of OKTA opened at $257.45 on Thursday. The stock has a fifty day moving average price of $249.53 and a two-hundred day moving average price of $241.77. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.15 and a current ratio of 3.15. Okta, Inc. has a 52-week low of $199.08 and a 52-week high of $294.00. The company has a market cap of $39.82 billion, a price-to-earnings ratio of -67.75 and a beta of 0.97.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Tuesday, August 31st. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.24. Okta had a negative return on equity of 18.64% and a negative net margin of 52.47%. The firm had revenue of $316.00 million during the quarter, compared to the consensus estimate of $293.16 million. During the same quarter in the previous year, the company posted $0.07 EPS. The business’s revenue for the quarter was up 57.7% compared to the same quarter last year. As a group, research analysts predict that Okta, Inc. will post -4.8 EPS for the current fiscal year.

In other news, Director Benjamin A. Horowitz sold 80,000 shares of the business’s stock in a transaction on Tuesday, July 6th. The stock was sold at an average price of $247.94, for a total transaction of $19,835,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christopher K. Kramer sold 3,333 shares of the business’s stock in a transaction on Thursday, July 15th. The stock was sold at an average price of $242.94, for a total value of $809,719.02. Following the sale, the chief accounting officer now owns 13,142 shares of the company’s stock, valued at approximately $3,192,717.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 213,312 shares of company stock valued at $53,948,479. Corporate insiders own 9.60% of the company’s stock.

OKTA has been the topic of a number of research analyst reports. BTIG Research raised their target price on Okta from $280.00 to $302.00 and gave the company a “buy” rating in a report on Thursday, September 2nd. Deutsche Bank Aktiengesellschaft raised their target price on Okta from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, September 3rd. KeyCorp raised their target price on Okta from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, July 22nd. Truist lifted their price objective on Okta from $260.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, September 2nd. Finally, Daiwa Capital Markets assumed coverage on Okta in a report on Thursday, June 24th. They set a “buy” rating and a $282.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $289.67.

Okta Profile

Okta, Inc engages in the provision of identity management platform for the enterprise. It operates through United States and International geographical segments. The firm’s products include single sign-on, multi factor authentication, API access management, authentication, user management, and lifecycle management.

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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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