Okta, Inc. (NASDAQ:OKTA) Holdings Lifted by NBC Securities Inc.

NBC Securities Inc. increased its holdings in Okta, Inc. (NASDAQ:OKTA) by 1,379.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,885 shares of the company’s stock after acquiring an additional 2,690 shares during the period. NBC Securities Inc.’s holdings in Okta were worth $214,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Okta by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 15,848,525 shares of the company’s stock valued at $1,658,073,000 after buying an additional 128,906 shares during the period. Marshall Wace LLP raised its holdings in shares of Okta by 117.4% during the second quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock worth $212,841,000 after acquiring an additional 1,227,890 shares in the last quarter. Eminence Capital LP boosted its position in Okta by 18.1% during the second quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock valued at $186,225,000 after purchasing an additional 305,381 shares during the last quarter. Primecap Management Co. CA grew its stake in Okta by 0.8% in the second quarter. Primecap Management Co. CA now owns 1,356,216 shares of the company’s stock valued at $126,955,000 after purchasing an additional 10,800 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Okta by 20.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,029,753 shares of the company’s stock worth $96,388,000 after purchasing an additional 178,011 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Stock Performance

OKTA opened at $74.82 on Friday. The stock has a market cap of $12.71 billion, a PE ratio of -89.07, a P/E/G ratio of 18.05 and a beta of 1.02. Okta, Inc. has a 1 year low of $65.04 and a 1 year high of $114.50. The stock’s 50 day simple moving average is $80.44 and its 200-day simple moving average is $89.20. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18.

Okta (NASDAQ:OKTA) last announced its quarterly 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. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. The firm had revenue of $646.00 million for the quarter, compared to analyst estimates of $632.24 million. Sell-side analysts forecast that Okta, Inc. will post 0.19 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OKTA. Susquehanna reduced their price target on Okta from $110.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. decreased their target price on shares of Okta from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Royal Bank of Canada reduced their price objective on shares of Okta from $125.00 to $101.00 and set an “outperform” rating for the company in a research note on Thursday. Truist Financial lowered their target price on shares of Okta from $95.00 to $80.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, Jefferies Financial Group reduced their price target on Okta from $100.00 to $85.00 and set a “hold” rating for the company in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Okta currently has an average rating of “Hold” and a consensus price target of $99.38.

Insider Activity at Okta

In other Okta news, insider Larissa Schwartz sold 2,797 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $77.63, for a total transaction of $217,131.11. Following the completion of the transaction, the insider now owns 24,916 shares in the company, valued at $1,934,229.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Okta news, insider Larissa Schwartz sold 2,797 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $217,131.11. Following the completion of the transaction, the insider now directly owns 24,916 shares in the company, valued at $1,934,229.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Jonathan James Addison sold 9,850 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $77.63, for a total transaction of $764,655.50. Following the completion of the sale, the executive now owns 14,601 shares in the company, valued at $1,133,475.63. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 343,989 shares of company stock valued at $27,806,184 over the last quarter. 7.00% of the stock is owned by company insiders.

About Okta

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.