MCF Advisors LLC Makes New Investment in Okta, Inc. (NASDAQ:OKTA)

MCF Advisors LLC purchased a new stake in shares of Okta, Inc. (NASDAQ:OKTA) in the first quarter, according to its most recent filing with the SEC. The firm purchased 3,035 shares of the company’s stock, valued at approximately $318,000.

Other institutional investors have also modified their holdings of the company. City State Bank increased its holdings in Okta by 160.0% during the 1st quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after acquiring an additional 160 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Okta in the fourth quarter valued at approximately $29,000. Principal Securities Inc. purchased a new position in shares of Okta during the 4th quarter worth approximately $48,000. Future Financial Wealth Managment LLC acquired a new position in shares of Okta during the 1st quarter worth approximately $63,000. Finally, Tucker Asset Management LLC purchased a new stake in Okta in the 3rd quarter valued at approximately $65,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Guggenheim reissued a “buy” rating and issued a $130.00 price target on shares of Okta in a report on Tuesday, June 25th. Evercore ISI upgraded shares of Okta from an “in-line” rating to an “outperform” rating and upped their target price for the company from $102.00 to $122.00 in a report on Thursday, May 30th. Mizuho raised their price target on shares of Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, May 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 price objective on shares of Okta in a research report on Monday, June 17th. Finally, Susquehanna decreased their target price on shares of Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Nineteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $105.58.

Okta Stock Up 1.3 %

Okta stock opened at $93.61 on Friday. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50. The stock’s 50 day moving average price is $93.41 and its 200 day moving average price is $92.83. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.73 and a quick ratio of 1.73.

Okta (NASDAQ:OKTA) last posted its earnings results on Wednesday, May 29th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.27. The business had revenue of $617.00 million for the quarter, compared to analysts’ expectations of $604.33 million. Okta had a negative net margin of 11.69% and a negative return on equity of 3.81%. Research analysts forecast that Okta, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Transactions at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 18,878 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $87.19, for a total transaction of $1,645,972.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.00% of the company’s stock.

Okta 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.