Empowered Funds LLC Purchases 295 Shares of Okta, Inc. (NASDAQ:OKTA)

Empowered Funds LLC boosted its holdings in Okta, Inc. (NASDAQ:OKTA) by 5.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,718 shares of the company’s stock after buying an additional 295 shares during the period. Empowered Funds LLC’s holdings in Okta were worth $425,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OKTA. SG Americas Securities LLC boosted its position in shares of Okta by 122.3% in the 3rd quarter. SG Americas Securities LLC now owns 17,021 shares of the company’s stock worth $1,265,000 after purchasing an additional 9,364 shares during the last quarter. Truist Financial Corp grew its position in shares of Okta by 62.5% during the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock worth $48,870,000 after buying an additional 200,770 shares during the period. Atria Wealth Solutions Inc. increased its stake in shares of Okta by 75.4% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 11,477 shares of the company’s stock valued at $1,074,000 after acquiring an additional 4,932 shares during the last quarter. River Global Investors LLP raised its position in shares of Okta by 69.9% in the 3rd quarter. River Global Investors LLP now owns 22,144 shares of the company’s stock valued at $1,646,000 after acquiring an additional 9,114 shares during the period. Finally, Virtu Financial LLC bought a new position in Okta during the 1st quarter worth approximately $1,172,000. 86.64% of the stock is owned by institutional investors.

Okta Trading Up 1.5 %

Shares of OKTA stock opened at $76.57 on Monday. 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 market cap of $13.01 billion, a price-to-earnings ratio of -91.15, a PEG ratio of 18.47 and a beta of 1.02. The stock has a 50-day moving average of $74.72 and a 200-day moving average of $85.32. Okta, Inc. has a 1-year low of $66.69 and a 1-year high of $114.50.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.29. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. The company had revenue of $646.00 million for the quarter, compared to the consensus estimate of $632.24 million. On average, equities research analysts forecast that Okta, Inc. will post 0.19 earnings per share for the current year.

Analyst Ratings Changes

OKTA has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered Okta from a “buy” rating to a “hold” rating and reduced their target price for the stock from $115.00 to $85.00 in a report on Tuesday, November 12th. BMO Capital Markets lifted their price objective on shares of Okta from $100.00 to $103.00 and gave the stock a “market perform” rating in a research report on Thursday, August 29th. Jefferies Financial Group cut their price objective on shares of Okta from $100.00 to $85.00 and set a “hold” rating for the company in a report on Tuesday, September 24th. BTIG Research cut their price target on shares of Okta from $128.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Finally, Mizuho reduced their price target on shares of Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $98.30.

Insider Activity

In related news, CEO Todd Mckinnon sold 224,533 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $74.62, for a total transaction of $16,754,652.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 2,790 shares of Okta stock in a transaction that occurred 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 transaction, the insider now directly owns 27,713 shares in the company, valued at approximately $2,051,039.13. This represents a 9.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 475,789 shares of company stock worth $35,701,361 in the last quarter. 7.00% of the stock is owned by corporate 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.