Fiera Capital Corp Acquires Shares of 113,440 Okta Inc (OKTA)

Fiera Capital Corp acquired a new stake in Okta Inc (NASDAQ:OKTA) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 113,440 shares of the company’s stock, valued at approximately $5,714,000. Fiera Capital Corp owned approximately 0.11% of Okta at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Trust Advisors LP bought a new position in Okta during the second quarter worth about $115,170,000. Kovack Advisors Inc. grew its holdings in Okta by 78.8% during the second quarter. Kovack Advisors Inc. now owns 10,876 shares of the company’s stock worth $548,000 after purchasing an additional 4,793 shares during the period. Zweig DiMenna Associates LLC grew its holdings in Okta by 27.0% during the second quarter. Zweig DiMenna Associates LLC now owns 115,810 shares of the company’s stock worth $5,833,000 after purchasing an additional 24,622 shares during the period. First Midwest Bank Trust Division bought a new position in Okta during the second quarter worth about $342,000. Finally, Bfsg LLC bought a new position in Okta during the second quarter worth about $361,000. Institutional investors own 55.01% of the company’s stock.

Shares of OKTA stock opened at $56.71 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 3.13 and a quick ratio of 3.14. The company has a market cap of $5.90 billion, a price-to-earnings ratio of -41.39 and a beta of -1.03. Okta Inc has a 12-month low of $22.77 and a 12-month high of $61.00.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Wednesday, June 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.07. The firm had revenue of $83.62 million during the quarter, compared to the consensus estimate of $78.81 million. Okta had a negative net margin of 38.34% and a negative return on equity of 59.95%. The business’s revenue for the quarter was up 59.8% compared to the same quarter last year. During the same period last year, the business posted ($0.50) earnings per share. sell-side analysts anticipate that Okta Inc will post -1.21 EPS for the current fiscal year.

A number of equities analysts recently commented on the company. Needham & Company LLC cut Okta from a “buy” rating to a “hold” rating and reduced their price target for the stock from $47.06 to $38.00 in a report on Tuesday, June 5th. They noted that the move was a valuation call. Zacks Investment Research upgraded Okta from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Wednesday, July 18th. Oppenheimer lifted their price target on Okta from $51.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, June 7th. Monness Crespi & Hardt lifted their price target on Okta from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, June 7th. Finally, BidaskClub cut Okta from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 7th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Okta currently has an average rating of “Buy” and an average target price of $57.58.

In other Okta news, CFO William E. Losch sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $49.19, for a total transaction of $737,850.00. Following the completion of the sale, the chief financial officer now directly owns 15,000 shares in the company, valued at $737,850. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jacques Frederic Kerrest sold 1,177 shares of the firm’s stock in a transaction that occurred on Tuesday, July 17th. The stock was sold at an average price of $54.97, for a total transaction of $64,699.69. The disclosure for this sale can be found here. Insiders have sold 415,974 shares of company stock valued at $21,930,903 over the last 90 days. Company insiders own 20.59% of the company’s stock.

Okta Company Profile

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.

Read More: Market Capitalization – What it Means for Investors

Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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