Andar Capital Management HK Ltd Takes $3.53 Million Position in Okta, Inc. (NASDAQ:OKTA)

Andar Capital Management HK Ltd purchased a new stake in shares of Okta, Inc. (NASDAQ:OKTA) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 39,001 shares of the company’s stock, valued at approximately $3,531,000. Okta accounts for approximately 5.0% of Andar Capital Management HK Ltd’s portfolio, making the stock its 8th largest position.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Okta by 0.8% during the third quarter. Vanguard Group Inc. now owns 15,281,123 shares of the company’s stock valued at $1,245,564,000 after purchasing an additional 123,216 shares during the last quarter. Sands Capital Management LLC raised its holdings in shares of Okta by 2.4% during the third quarter. Sands Capital Management LLC now owns 5,871,958 shares of the company’s stock valued at $478,623,000 after purchasing an additional 136,267 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Okta by 6,192.3% during the fourth quarter. Cerity Partners LLC now owns 3,172,223 shares of the company’s stock valued at $287,181,000 after purchasing an additional 3,121,809 shares during the last quarter. Eminence Capital LP raised its holdings in shares of Okta by 7.7% during the third quarter. Eminence Capital LP now owns 1,599,703 shares of the company’s stock valued at $130,392,000 after purchasing an additional 113,994 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Okta by 8.2% during the third quarter. Legal & General Group Plc now owns 1,150,442 shares of the company’s stock valued at $93,773,000 after purchasing an additional 87,102 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Stock Up 2.0 %

Okta stock traded up $1.86 during midday trading on Wednesday, hitting $94.84. 586,724 shares of the company’s stock were exchanged, compared to its average volume of 1,888,401. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 1.67. Okta, Inc. has a 12 month low of $65.04 and a 12 month high of $114.50. The firm has a 50-day moving average of $99.86 and a two-hundred day moving average of $86.44. The company has a market cap of $15.88 billion, a PE ratio of -42.66 and a beta of 1.00.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.35. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. The business had revenue of $605.00 million for the quarter, compared to analysts’ expectations of $586.25 million. As a group, analysts expect that Okta, Inc. will post -1.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

OKTA has been the subject of several research reports. Royal Bank of Canada boosted their price objective on shares of Okta from $95.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Piper Sandler boosted their target price on shares of Okta from $85.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Bank of America upgraded shares of Okta from an “underperform” rating to a “buy” rating and boosted their target price for the company from $64.00 to $135.00 in a research report on Thursday, February 29th. BMO Capital Markets boosted their target price on shares of Okta from $80.00 to $110.00 and gave the company a “market perform” rating in a research report on Thursday, February 29th. Finally, Evercore ISI upped their price target on shares of Okta from $70.00 to $102.00 and gave the stock an “in-line” rating in a research report on Thursday, February 29th. Twenty equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $100.39.

Insider Activity at Okta

In related news, CAO Shibu Ninan sold 2,500 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $90.23, for a total value of $225,575.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at approximately $590,013.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Okta news, CAO Shibu Ninan sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $90.23, for a total transaction of $225,575.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at approximately $590,013.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Shellye L. Archambeau sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the transaction, the director now directly owns 6,042 shares of the company’s stock, valued at $646,252.32. The disclosure for this sale can be found here. Insiders sold 11,779 shares of company stock valued at $1,205,990 in the last three months. 7.36% of the stock is owned by insiders.

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.