Invst LLC Purchases New Stake in Okta, Inc. (NASDAQ:OKTA)

Invst LLC purchased a new stake in Okta, Inc. (NASDAQ:OKTA) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,394 shares of the company’s stock, valued at approximately $226,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. City State Bank raised its stake in Okta by 160.0% in 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 in the last quarter. EverSource Wealth Advisors LLC raised its stake in Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after acquiring an additional 142 shares in the last quarter. First Command Advisory Services Inc. acquired a new position in Okta during the second quarter worth about $47,000. nVerses Capital LLC acquired a new position in Okta during the second quarter worth about $47,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Okta during the first quarter worth about $63,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Transactions at Okta

In other news, CEO Todd Mckinnon sold 32,516 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $76.22, for a total transaction of $2,478,369.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Todd Mckinnon sold 32,516 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $76.22, for a total transaction of $2,478,369.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 2,790 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.01, for a total value of $206,487.90. Following the completion of the transaction, the insider now owns 27,713 shares of the company’s stock, valued at approximately $2,051,039.13. The disclosure for this sale can be found here. In the last 90 days, insiders sold 575,059 shares of company stock worth $49,882,706. 7.00% of the stock is owned by company insiders.

Okta Trading Up 0.5 %

Shares of Okta stock opened at $74.34 on Tuesday. Okta, Inc. has a 1 year low of $65.04 and a 1 year high of $114.50. The firm has a market cap of $12.63 billion, a PE ratio of -44.51, a P/E/G ratio of 37.51 and a beta of 1.01. The stock has a fifty day moving average price of $84.80 and a 200-day moving average price of $92.05. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.29. The firm had revenue of $646.00 million during the quarter, compared to analyst estimates of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. Equities research analysts anticipate that Okta, Inc. will post 0.09 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on OKTA shares. Citigroup lowered their target price on Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Scotiabank lowered their target price on Okta from $104.00 to $92.00 and set a “sector perform” rating for the company in a research note on Thursday, August 29th. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 target price on shares of Okta in a research note on Thursday, August 29th. Jefferies Financial Group lowered their price objective on Okta from $100.00 to $85.00 and set a “hold” rating for the company in a research note on Tuesday, September 24th. Finally, Piper Sandler lowered their price objective on Okta from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $104.62.

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.