TIAA CREF Investment Management LLC acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 69,107 shares of the company’s stock, valued at approximately $1,576,000. TIAA CREF Investment Management LLC owned about 0.07% of Okta as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Glynn Capital Management LLC acquired a new stake in shares of Okta during the 2nd quarter worth about $45,855,000. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Okta during the 2nd quarter worth about $23,054,000. JPMorgan Chase & Co. acquired a new stake in shares of Okta in the second quarter worth approximately $21,855,000. Hillman Co. acquired a new stake in shares of Okta in the second quarter worth approximately $6,975,000. Finally, Peregrine Capital Management LLC acquired a new stake in shares of Okta in the second quarter worth approximately $6,909,000. Institutional investors own 12.92% of the company’s stock.
In related news, General Counsel Jonathan T. Runyan sold 300,000 shares of the company’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $27.03, for a total value of $8,109,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jacques Frederic Kerrest sold 122,504 shares of the company’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $28.59, for a total value of $3,502,389.36. The disclosure for this sale can be found here. In the last three months, insiders sold 1,021,877 shares of company stock valued at $28,641,027.
Shares of Okta, Inc. (NASDAQ:OKTA) opened at $29.15 on Tuesday. Okta, Inc. has a twelve month low of $21.52 and a twelve month high of $33.64.
Okta (NASDAQ:OKTA) last released its earnings results on Thursday, September 7th. The company reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.03). The business had revenue of $61.00 million during the quarter, compared to the consensus estimate of $55.90 million. The business’s revenue was up 63.1% on a year-over-year basis. equities analysts anticipate that Okta, Inc. will post -0.96 EPS for the current year.
Several research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Okta from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Thursday, September 14th. KeyCorp restated a “buy” rating and issued a $35.00 price target on shares of Okta in a research note on Friday. Oppenheimer Holdings, Inc. assumed coverage on shares of Okta in a report on Tuesday, October 10th. They issued an “outperform” rating and a $32.00 price objective for the company. SunTrust Banks, Inc. started coverage on shares of Okta in a report on Friday, October 27th. They issued a “buy” rating and a $36.00 price objective for the company. Finally, Canaccord Genuity boosted their price target on shares of Okta from $27.00 to $28.00 and gave the company a “hold” rating in a report on Friday, September 8th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $32.71.
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Okta, Inc is a United States-based independent provider of identity for the enterprise. The Company’s Okta Identity Cloud connects and protects employees. It also connects enterprises to their partners, suppliers and customers. The Company offers products, such as Okta information technology (IT) Products and Okta for Developers.
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