Andar Capital Management HK Ltd Takes $3.53 Million Position in Okta, Inc. (NASDAQ:OKTA)

Andar Capital Management HK Ltd bought a new stake in shares of Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, HoldingsChannel.com reports. The firm bought 39,001 shares of the company’s stock, valued at approximately $3,531,000. Okta accounts for about 5.0% of Andar Capital Management HK Ltd’s portfolio, making the stock its 8th biggest holding.

Several other hedge funds have also modified their holdings of OKTA. Commonwealth Equity Services LLC lifted its holdings in shares of Okta by 1.2% during the third quarter. Commonwealth Equity Services LLC now owns 28,302 shares of the company’s stock valued at $2,307,000 after purchasing an additional 333 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Okta by 8.8% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 36,000 shares of the company’s stock valued at $2,934,000 after purchasing an additional 2,900 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in shares of Okta during the third quarter valued at $223,000. Robeco Institutional Asset Management B.V. raised its position in Okta by 9.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 91,807 shares of the company’s stock valued at $7,483,000 after buying an additional 7,986 shares during the period. Finally, Clear Creek Financial Management LLC raised its position in Okta by 7.0% during the third quarter. Clear Creek Financial Management LLC now owns 4,768 shares of the company’s stock valued at $389,000 after buying an additional 314 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Shellye L. Archambeau sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the completion of the transaction, the director now owns 6,042 shares in the company, valued at approximately $646,252.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Shibu Ninan sold 2,500 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $90.23, for a total transaction of $225,575.00. Following the completion of the sale, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at approximately $590,013.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shellye L. Archambeau sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $106.96, for a total value of $534,800.00. Following the sale, the director now directly owns 6,042 shares of the company’s stock, valued at $646,252.32. The disclosure for this sale can be found here. Insiders sold 11,779 shares of company stock worth $1,205,990 in the last 90 days. 7.36% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on OKTA. Susquehanna upped their price target on Okta from $70.00 to $115.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Evercore ISI upped their target price on Okta from $70.00 to $102.00 and gave the stock an “in-line” rating in a research report on Thursday, February 29th. Truist Financial reaffirmed a “hold” rating and issued a $105.00 target price (up from $85.00) on shares of Okta in a research report on Thursday, February 29th. Westpark Capital raised Okta from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Thursday, February 29th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $95.00 target price (up from $85.00) on shares of Okta in a research report on Friday, January 5th. Twenty analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $100.39.

Okta Stock Performance

Shares of OKTA stock traded up $1.86 during mid-day trading on Wednesday, reaching $94.84. The stock had a trading volume of 586,724 shares, compared to its average volume of 1,888,401. The firm’s 50 day simple moving average is $99.86 and its 200 day simple moving average is $86.44. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.20. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50. The firm has a market cap of $15.88 billion, a PE ratio of -42.66 and a beta of 1.00.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.35. Okta had a negative return on equity of 5.69% and a negative net margin of 15.69%. The company had revenue of $605.00 million during the quarter, compared to the consensus estimate of $586.25 million. On average, analysts forecast that Okta, Inc. will post -1.51 EPS for the current year.

Okta Company 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.