Qsemble Capital Management LP Makes New $1.86 Million Investment in Okta, Inc. (NASDAQ:OKTA)

Qsemble Capital Management LP acquired a new stake in Okta, Inc. (NASDAQ:OKTA) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 25,067 shares of the company’s stock, valued at approximately $1,863,000.

A number of other institutional investors and hedge funds also recently modified their holdings of OKTA. Caprock Group LLC grew its stake in Okta by 4.7% in the 2nd quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock valued at $267,000 after purchasing an additional 129 shares during the period. National Bank of Canada FI increased its holdings in Okta by 11.0% during the second quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock worth $124,000 after buying an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Okta by 71.4% in the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after acquiring an additional 142 shares during the period. CWM LLC raised its position in Okta by 5.3% in the second quarter. CWM LLC now owns 2,910 shares of the company’s stock worth $272,000 after acquiring an additional 147 shares during the period. Finally, Bleakley Financial Group LLC grew its position in shares of Okta by 4.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock valued at $306,000 after acquiring an additional 182 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OKTA has been the topic of several research analyst reports. Truist Financial dropped their price objective on Okta from $95.00 to $80.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. JPMorgan Chase & Co. dropped their price target on Okta from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. The Goldman Sachs Group decreased their price objective on Okta from $113.00 to $97.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Jefferies Financial Group dropped their price objective on shares of Okta from $100.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, September 24th. Finally, Westpark Capital reissued a “buy” rating and issued a $140.00 price target on shares of Okta in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Okta currently has a consensus rating of “Hold” and a consensus price target of $98.30.

Okta Price Performance

OKTA opened at $76.50 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. The stock’s 50 day simple moving average is $74.77 and its 200 day simple moving average is $85.17. The firm has a market cap of $12.99 billion, a price-to-earnings ratio of -91.07, a PEG ratio of 18.75 and a beta of 1.02. Okta, Inc. has a 1 year low of $66.69 and a 1 year high of $114.50.

Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.29. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. The firm had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $632.24 million. As a group, analysts predict that Okta, Inc. will post 0.19 earnings per share for the current year.

Insider Buying and Selling at Okta

In other news, insider Larissa Schwartz sold 2,790 shares of Okta stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $74.01, for a total value of $206,487.90. Following the sale, the insider now directly owns 27,713 shares in the company, valued at approximately $2,051,039.13. This trade represents a 9.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd Mckinnon sold 32,516 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $76.22, for a total value of $2,478,369.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 475,789 shares of company stock worth $35,701,361. 7.00% of the stock is currently owned by company insiders.

Okta 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.