Thrivent Financial for Lutherans Makes New $1.76 Million Investment in Okta, Inc. (NASDAQ:OKTA)

1 month ago
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Thrivent Financial for Lutherans bought a new stake in Okta, Inc. (NASDAQ:OKTA – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 18,772 shares of the company’s stock, valued at approximately $1,758,000.
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Several other institutional investors also recently modified their holdings of OKTA. Vanguard Group Inc. increased its holdings in Okta by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 15,719,619 shares of the company’s stock valued at $1,423,097,000 after purchasing an additional 438,496 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of Okta by 19.5% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 3,405 shares of the company’s stock valued at $308,000 after acquiring an additional 556 shares during the last quarter. Los Angeles Capital Management LLC raised its position in shares of Okta by 282.5% in the 1st quarter. Los Angeles Capital Management LLC now owns 248,658 shares of the company’s stock valued at $26,015,000 after acquiring an additional 183,643 shares during the period. Principal Financial Group Inc. raised its position in shares of Okta by 28.6% in the 1st quarter. Principal Financial Group Inc. now owns 13,144 shares of the company’s stock valued at $1,375,000 after acquiring an additional 2,925 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Okta by 639.6% during the 1st quarter. SG Americas Securities LLC now owns 70,895 shares of the company’s stock worth $7,417,000 after acquiring an additional 61,309 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

OKTA stock opened at $72.39 on Thursday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $12.18 billion, a PE ratio of -43.35, a PEG ratio of 37.51 and a beta of 1.01. Okta, Inc. has a 1-year low of $65.04 and a 1-year high of $114.50. The business’s 50 day simple moving average is $83.92 and its 200 day simple moving average is $91.68.
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Okta (NASDAQ:OKTA – Get Free Report) last posted its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.29. The business had revenue of $646.00 million for the quarter, compared to analyst estimates of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. As a group, research analysts anticipate that Okta, Inc. will post 0.09 EPS for the current year.

In related news, Director Jacques Frederic Kerrest sold 26,618 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $100.29, for a total transaction of $2,669,519.22. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Okta news, Director Jacques Frederic Kerrest sold 26,618 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $100.29, for a total value of $2,669,519.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Todd Mckinnon sold 200,512 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $75.21, for a total value of $15,080,507.52. Following the completion of the transaction, the chief executive officer now directly owns 8,495 shares in the company, valued at $638,908.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 575,059 shares of company stock valued at $49,882,706. 7.00% of the stock is owned by insiders.
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Several equities research analysts have commented on OKTA shares. UBS Group lowered their target price on shares of Okta from $120.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. BMO Capital Markets raised their price objective on Okta from $100.00 to $103.00 and gave the stock a “market perform” rating in a research note on Thursday, August 29th. Westpark Capital reissued a “buy” rating and issued a $140.00 target price on shares of Okta in a research note on Thursday, August 29th. Jefferies Financial Group lowered their price target on Okta from $100.00 to $85.00 and set a “hold” rating for the company in a report on Tuesday, September 24th. Finally, 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. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Okta presently has a consensus rating of “Hold” and an average price target of $104.62.

Get Our Latest Stock Report on OKTA

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.
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