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

Qsemble Capital Management LP bought a new stake in Okta, Inc. (NASDAQ:OKTA) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 25,067 shares of the company’s stock, valued at approximately $1,863,000.

Other hedge funds also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC boosted its holdings in shares of Okta by 16.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,074 shares of the company’s stock valued at $322,000 after buying an additional 442 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Okta by 23.6% during the first quarter. Advisors Asset Management Inc. now owns 1,042 shares of the company’s stock valued at $109,000 after purchasing an additional 199 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Okta by 5.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 101,079 shares of the company’s stock valued at $10,575,000 after purchasing an additional 4,823 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Okta by 15.7% in the 1st quarter. Tidal Investments LLC now owns 5,405 shares of the company’s stock worth $565,000 after purchasing an additional 734 shares in the last quarter. Finally, Western Pacific Wealth Management LP grew its stake in shares of Okta by 148.5% in the 1st quarter. Western Pacific Wealth Management LP now owns 1,578 shares of the company’s stock worth $165,000 after buying an additional 943 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OKTA. Canaccord Genuity Group lowered their price objective on Okta from $90.00 to $82.00 and set a “hold” rating for the company in a research note on Friday, October 18th. The Goldman Sachs Group dropped their price target on shares of Okta from $113.00 to $97.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Citigroup reduced their price objective on shares of Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Morgan Stanley decreased their target price on shares of Okta from $100.00 to $92.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. Finally, Westpark Capital reiterated a “buy” rating and set a $140.00 price target on shares of Okta in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $98.30.

Insider Activity at Okta

In other Okta news, CRO Jonathan James Addison sold 9,850 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $77.63, for a total value of $764,655.50. Following the sale, the executive now directly owns 14,601 shares of the company’s stock, valued at approximately $1,133,475.63. This represents a 40.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Larissa Schwartz sold 2,790 shares of Okta stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.01, for a total value of $206,487.90. Following the transaction, the insider now owns 27,713 shares of the company’s stock, valued at $2,051,039.13. The trade was a 9.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 475,789 shares of company stock valued at $35,701,361 over the last quarter. 7.00% of the stock is owned by corporate insiders.

Okta Stock Performance

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

Okta (NASDAQ:OKTA) last announced its quarterly earnings data 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. The company had revenue of $646.00 million for the quarter, compared to analysts’ expectations 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, equities analysts predict that Okta, Inc. will post 0.19 EPS for the current year.

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.