Okta, Inc. (NASDAQ:OKTA) Shares Acquired by Inspire Investing LLC

Inspire Investing LLC grew its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 15.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,882 shares of the company’s stock after purchasing an additional 3,586 shares during the period. Inspire Investing LLC’s holdings in Okta were worth $2,516,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. City State Bank lifted its holdings in shares of Okta by 160.0% during the first quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after purchasing an additional 160 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after purchasing an additional 142 shares during the last quarter. First Command Advisory Services Inc. purchased a new stake in shares of Okta during the second quarter valued at $47,000. nVerses Capital LLC purchased a new stake in shares of Okta during the second quarter valued at $47,000. Finally, Principal Securities Inc. purchased a new stake in shares of Okta during the fourth quarter valued at $48,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 2,790 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.01, for a total transaction of $206,487.90. Following the completion of the sale, the insider now directly owns 27,713 shares of the company’s stock, valued at approximately $2,051,039.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Todd Mckinnon sold 179,687 shares of Okta stock in a transaction on Friday, July 19th. The stock was sold at an average price of $93.42, for a total value of $16,786,359.54. Following the completion of the sale, the chief executive officer now directly owns 47,883 shares of the company’s stock, valued at approximately $4,473,229.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Larissa Schwartz sold 2,790 shares of Okta stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.01, for a total value of $206,487.90. Following the completion of the sale, the insider now directly owns 27,713 shares of the company’s stock, valued at $2,051,039.13. The disclosure for this sale can be found here. In the last ninety days, insiders sold 347,411 shares of company stock valued at $32,837,280. Corporate insiders own 7.00% of the company’s stock.

Okta Trading Down 0.4 %

Shares of OKTA opened at $73.89 on Thursday. Okta, Inc. has a 1 year low of $65.04 and a 1 year high of $114.50. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. The stock has a 50 day simple moving average of $88.52 and a 200-day simple moving average of $94.21. The stock has a market cap of $12.43 billion, a PE ratio of -44.25, a PEG ratio of 40.71 and a beta of 1.02.

Analyst Ratings Changes

OKTA has been the topic of several recent analyst reports. Bank of America lowered Okta from a “buy” rating to an “underperform” rating and dropped their price target for the company from $135.00 to $75.00 in a research report on Thursday, August 29th. DA Davidson dropped their price target on Okta from $100.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Westpark Capital reissued a “buy” rating and set a $140.00 price target on shares of Okta in a research report on Thursday, August 29th. Wells Fargo & Company dropped their price target on Okta from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. Finally, BMO Capital Markets upped their price target on Okta from $100.00 to $103.00 and gave the company a “market perform” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $105.14.

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.