Fidelity Management & Research Co recently announced the acquisition of new stake in Okta Inc. (NASDAQ:OKTA). The institutional investor has increased its shareholding in the Technology company by 9.61% to 7.86 million shares with purchase of 0.69 million shares. This fresh investment now brings its stake to 5.10% valued currently at $538.58 million. In addition, BlackRock Fund Advisors raised its holdings by 30558.0 to 6.28 million shares. And Wellington Management Co. LLP has lifted its position by 8.87% or 0.41 million shares – to 5.01 million shares.
With over 2.48 million Okta Inc. (OKTA) shares trading Monday and a closing price of $85.44 on the day, the dollar volume was approximately $211.48 million. The shares have shown a positive half year performance of 74.12% and its price on 05/22/23 gained nearly 4.00%. Currently, there are 160.06M common shares owned by the public and among those 152.81M shares have been available to trade.
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Insiders at the company have transacted a total of 84 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 46 of these insider trades were purchases, accounting for 104,089 shares. Insider sales of the common stock occurred on 38 occasions, with total insider shares sold totaling 49,682 shares.
The top 3 mutual fund holders in Okta Inc. are Vanguard Total Stock Market ETF, Vanguard Mid Cap Index Fund, and Fidelity Select Port. – Technolog. Vanguard Total Stock Market ETF owns 4.73 million shares of the company’s stock, all valued at over $323.96 million. The company bought an additional 0.29 million shares recently to bring their total holdings to about 3.07% of the shares outstanding. Vanguard Mid Cap Index Fund bought 0.2 million shares to see its total holdings expand to 3.57 million shares valued at over $244.51 million and representing 2.32% of the shares outstanding. Fidelity Select Port. – Technolog bought 0.11 million shares to bring its total holdings to over 2.7 million shares at a value of $184.77 million. Fidelity Select Port. – Technolog now owns shares totaling to 1.75% of the shares outstanding.
Shares of Okta Inc. (NASDAQ: OKTA) opened at $81.73, down -$0.42 from a prior closing price of $82.15. However, the script later moved the day high at 85.86, up 4.00%. The company’s stock has a 5-day price change of 9.01% and 18.39% over the past three months. OKTA shares are trading 25.04% year to date (YTD), with the 12-month market performance up to 2.90% higher. It has a 12-month low price of $44.12 and touched a high of $111.35 over the same period. OKTA has an average intraday trading volume of 2.30 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 14.27%, 9.02%, and 20.87% respectively.
Institutional ownership of Okta Inc. (NASDAQ: OKTA) shares accounts for 81.50% of the company’s 160.06M shares outstanding. Mutual fund holders own 41.82%, while other institutional holders and individual stakeholders account for 42.57% and 1.86% respectively.
It has a market capitalization of $13.71B and a beta (3y monthly) value of 1.10. The earnings-per-share (ttm) stands at -$5.17. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.38% over the week and 3.70% over the month.
Analysts forecast that Okta Inc. (OKTA) will achieve an EPS of $0.13 for the current quarter, $0.17 for the next quarter and $1.19 for 2025. The lowest estimate earnings-per-share for the quarter is $0.11 while analysts give the company a high EPS estimate of $0.39. Comparatively, EPS for the current quarter was -$0.27 a year ago. Earnings per share for the fiscal year are expected to increase by 10.00%, and 53.01% over the next financial year. EPS should grow at an annualized rate of 25.00% over the next five years, compared to -31.30% over the past 5-year period.
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