Mathes Company Inc. Invests $4.38 Million in Okta, Inc. (NASDAQ:OKTA)

by · The Markets Daily

Mathes Company Inc. acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA – Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 41,640 shares of the company’s stock, valued at approximately $4,381,000. Okta comprises 1.8% of Mathes Company Inc.’s investment portfolio, making the stock its 20th largest holding.

Several other institutional investors also recently modified their holdings of the company. Xponance Inc. boosted its holdings in shares of Okta by 2.3% during the 1st quarter. Xponance Inc. now owns 22,894 shares of the company’s stock worth $2,409,000 after buying an additional 505 shares during the period. Allworth Financial LP boosted its holdings in shares of Okta by 5.7% during the 1st quarter. Allworth Financial LP now owns 1,708 shares of the company’s stock worth $173,000 after buying an additional 92 shares during the period. Leavell Investment Management Inc. bought a new stake in shares of Okta during the 1st quarter worth about $208,000. Linden Thomas Advisory Services LLC boosted its holdings in shares of Okta by 6.7% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 17,213 shares of the company’s stock worth $1,811,000 after buying an additional 1,083 shares during the period. Finally, Greenleaf Trust bought a new stake in shares of Okta during the 1st quarter worth about $235,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Trading Down 3.0%

Shares of NASDAQ OKTA opened at $91.56 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.47 and a current ratio of 1.47. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $127.57. The firm has a 50 day moving average price of $107.71 and a two-hundred day moving average price of $100.86. The stock has a market cap of $16.03 billion, a P/E ratio of 145.34, a price-to-earnings-growth ratio of 4.57 and a beta of 0.82.

Okta (NASDAQ:OKTA – Get Free Report) last announced its quarterly earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.09. Okta had a net margin of 4.85% and a return on equity of 2.79%. The firm had revenue of $688.00 million during the quarter, compared to analysts’ expectations of $680.14 million. During the same period in the prior year, the company posted $0.65 EPS. The company’s revenue was up 11.5% on a year-over-year basis. As a group, equities analysts forecast that Okta, Inc. will post 0.42 EPS for the current year.

Insider Activity at Okta

In other news, Director Jacques Frederic Kerrest sold 581 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $100.29, for a total value of $58,268.49. Following the sale, the director directly owned 2,832 shares of the company’s stock, valued at approximately $284,021.28. This represents a 17.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Larissa Schwartz sold 2,244 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $100.00, for a total transaction of $224,400.00. Following the completion of the sale, the insider directly owned 23,640 shares in the company, valued at approximately $2,364,000. This represents a 8.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,930 shares of company stock valued at $391,511. Corporate insiders own 5.68% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on OKTA shares. BMO Capital Markets set a $132.00 target price on shares of Okta and gave the stock a “market perform” rating in a report on Wednesday, May 28th. Guggenheim cut their price objective on shares of Okta from $140.00 to $138.00 and set a “buy” rating for the company in a report on Wednesday, May 28th. UBS Group cut their price objective on shares of Okta from $150.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, May 28th. BTIG Research reissued a “buy” rating on shares of Okta in a report on Thursday, May 22nd. Finally, Needham & Company LLC upped their price target on shares of Okta from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $119.44.

Check Out Our Latest Report on Okta

About Okta

(Free Report)

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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