Okta, Inc. (NASDAQ:OKTA) Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC boosted its stake in Okta, Inc. (NASDAQ:OKTA) by 4.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,114 shares of the company’s stock after acquiring an additional 182 shares during the period. Bleakley Financial Group LLC’s holdings in Okta were worth $306,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in OKTA. Marshall Wace LLP raised its holdings in Okta by 117.4% in the second quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock valued at $212,841,000 after acquiring an additional 1,227,890 shares in the last quarter. Eminence Capital LP raised its holdings in Okta by 18.1% in the second quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock valued at $186,225,000 after acquiring an additional 305,381 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Okta by 49.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 645,448 shares of the company’s stock valued at $67,527,000 after acquiring an additional 214,302 shares in the last quarter. Truist Financial Corp increased its stake in Okta by 62.5% during the second quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after purchasing an additional 200,770 shares during the last quarter. Finally, Smith Group Asset Management LLC increased its stake in Okta by 3,522.7% during the first quarter. Smith Group Asset Management LLC now owns 205,407 shares of the company’s stock valued at $21,490,000 after purchasing an additional 199,737 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. UBS Group lowered their target price on shares of Okta from $120.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. DA Davidson lowered their target price on shares of Okta from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Truist Financial lowered their target price on shares of Okta from $95.00 to $80.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Susquehanna lowered their target price on shares of Okta from $110.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Finally, Scotiabank lowered their target price on shares of Okta from $104.00 to $92.00 and set a “sector perform” 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 given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $98.96.

Insider Buying and Selling at Okta

In other Okta news, CEO Todd Mckinnon sold 224,533 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $74.62, for a total transaction of $16,754,652.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Okta news, insider Larissa Schwartz sold 2,795 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $92.02, for a total transaction of $257,195.90. Following the completion of the sale, the insider now directly owns 27,014 shares of the company’s stock, valued at approximately $2,485,828.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd Mckinnon sold 224,533 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $74.62, for a total transaction of $16,754,652.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 475,793 shares of company stock valued at $35,759,000. 7.00% of the stock is currently owned by corporate insiders.

Okta Price Performance

Shares of NASDAQ OKTA opened at $72.16 on Thursday. Okta, Inc. has a twelve month low of $65.04 and a twelve month 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 company has a market capitalization of $12.26 billion, a price-to-earnings ratio of -85.90, a PEG ratio of 17.32 and a beta of 1.02. The firm has a 50-day moving average of $79.70 and a two-hundred day moving average of $88.74.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $646.00 million during the quarter, compared to the consensus estimate of $632.24 million. As a group, analysts expect that Okta, Inc. will post 0.19 earnings per share for the current fiscal year.

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.