Lisanti Capital Growth LLC reduced its position in Okta Inc (NASDAQ:OKTA) by 25.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 10,825 shares of the company’s stock after selling 3,724 shares during the period. Lisanti Capital Growth LLC’s holdings in Okta were worth $762,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Okta by 276.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,633 shares of the company’s stock worth $105,000 after buying an additional 1,933 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Okta by 129.9% in the second quarter. Parallel Advisors LLC now owns 2,393 shares of the company’s stock worth $120,000 after buying an additional 1,352 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Okta in the second quarter worth about $139,000. Stratos Wealth Partners LTD. purchased a new stake in shares of Okta in the third quarter worth about $147,000. Finally, Public Employees Retirement Association of Colorado purchased a new stake in shares of Okta in the second quarter worth about $160,000. Institutional investors own 59.84% of the company’s stock.
Several equities research analysts have weighed in on OKTA shares. BidaskClub raised Okta from a “hold” rating to a “buy” rating in a research note on Tuesday, July 17th. Zacks Investment Research raised Okta from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Wednesday, July 18th. JPMorgan Chase & Co. boosted their price objective on Okta to $88.00 and gave the stock an “overweight” rating in a research note on Friday, September 7th. KeyCorp boosted their price objective on Okta from $65.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, September 7th. Finally, Oppenheimer boosted their price objective on Okta from $60.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, September 7th. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $68.50.
In other news, Director Benjamin A. Horowitz sold 270,465 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $72.66, for a total transaction of $19,651,986.90. Following the transaction, the director now owns 11,765 shares of the company’s stock, valued at $854,844.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO William E. Losch sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 22nd. The shares were sold at an average price of $56.92, for a total value of $1,138,400.00. Following the transaction, the chief financial officer now directly owns 20,000 shares in the company, valued at approximately $1,138,400. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 630,319 shares of company stock worth $40,437,266. Insiders own 20.59% of the company’s stock.
Shares of NASDAQ OKTA opened at $59.28 on Friday. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 1.08. Okta Inc has a 1-year low of $24.93 and a 1-year high of $75.49.
Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Thursday, September 6th. The company reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.21. The company had revenue of $94.59 million for the quarter, compared to analysts’ expectations of $85.00 million. Okta had a negative return on equity of 56.91% and a negative net margin of 38.13%. The firm’s revenue for the quarter was up 57.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.16) earnings per share. Research analysts forecast that Okta Inc will post -1.12 earnings per share for the current fiscal year.
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Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for Web and mobile applications, and data of organization; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; and Mobility Management, which simplifies and automates mobile device administration and provisioning across phones, tablets, and laptops.
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