High Net Worth Advisory Group LLC Buys Shares of 3,885 Okta, Inc. (NASDAQ:OKTA)

High Net Worth Advisory Group LLC purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,885 shares of the company’s stock, valued at approximately $406,000.

Several other hedge funds have also recently added to or reduced their stakes in OKTA. Vanguard Group Inc. boosted its holdings in shares of Okta by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 15,719,619 shares of the company’s stock worth $1,423,097,000 after purchasing an additional 438,496 shares during the last quarter. Northern Trust Corp boosted its stake in Okta by 3.0% during the third quarter. Northern Trust Corp now owns 944,726 shares of the company’s stock worth $77,005,000 after buying an additional 27,577 shares during the last quarter. RPG Investment Advisory LLC grew its holdings in Okta by 57.2% in the 4th quarter. RPG Investment Advisory LLC now owns 77,269 shares of the company’s stock valued at $6,995,000 after buying an additional 28,119 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Okta by 282.5% in the 1st quarter. Los Angeles Capital Management LLC now owns 248,658 shares of the company’s stock worth $26,015,000 after acquiring an additional 183,643 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Okta by 2,721.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 176,071 shares of the company’s stock worth $15,940,000 after acquiring an additional 169,830 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Okta

In other news, Director Jacques Frederic Kerrest sold 18,878 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $87.19, for a total value of $1,645,972.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

OKTA has been the subject of a number of analyst reports. UBS Group dropped their price objective on shares of Okta from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Truist Financial reiterated a “hold” rating and issued a $105.00 price objective (up from $85.00) on shares of Okta in a report on Thursday, February 29th. Susquehanna cut 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, May 30th. Piper Sandler increased their price target on Okta from $85.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Nineteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $104.48.

Okta Stock Up 0.5 %

OKTA stock traded up $0.45 during trading on Monday, hitting $87.36. 170,505 shares of the company’s stock were exchanged, compared to its average volume of 1,885,385. The stock has a market capitalization of $14.70 billion, a price-to-earnings ratio of -52.04 and a beta of 1.03. Okta, Inc. has a 52-week low of $65.04 and a 52-week high of $114.50. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $93.75 and a two-hundred day moving average price of $92.38.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Wednesday, May 29th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.27. The business had revenue of $617.00 million during the quarter, compared to the consensus estimate of $604.33 million. Okta had a negative net margin of 11.69% and a negative return on equity of 3.81%. As a group, equities research analysts expect that Okta, Inc. will post -0.28 EPS for the current 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.