Sanctuary Advisors LLC Takes Position in Okta, Inc. (NASDAQ:OKTA)

Sanctuary Advisors LLC bought a new stake in shares of Okta, Inc. (NASDAQ:OKTA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,979 shares of the company’s stock, valued at approximately $460,000.

A number of other institutional investors have also recently modified their holdings of OKTA. City State Bank lifted its stake in Okta by 160.0% in the 1st quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after buying an additional 160 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Okta by 71.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after buying an additional 142 shares in the last quarter. First Command Advisory Services Inc. purchased a new position in Okta in the 2nd quarter valued at about $47,000. nVerses Capital LLC purchased a new position in Okta in the 2nd quarter valued at about $47,000. Finally, Future Financial Wealth Managment LLC purchased a new position in Okta in the 1st quarter valued at about $63,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Larissa Schwartz sold 2,790 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.01, for a total transaction of $206,487.90. Following the completion of the transaction, the insider now owns 27,713 shares in the company, valued at approximately $2,051,039.13. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, 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 value of $764,655.50. Following the completion of the sale, the executive now directly owns 14,601 shares of the company’s stock, valued at $1,133,475.63. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Larissa Schwartz sold 2,790 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.01, for a total transaction of $206,487.90. Following the completion of the sale, the insider now directly owns 27,713 shares of the company’s stock, valued at $2,051,039.13. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 523,676 shares of company stock worth $44,592,544. Corporate insiders own 7.00% of the company’s stock.

Okta Stock Performance

NASDAQ:OKTA opened at $75.72 on Thursday. The company has a fifty day simple moving average of $81.03 and a two-hundred day simple moving average of $89.60. The company has a market cap of $12.74 billion, a price-to-earnings ratio of -45.34, a price-to-earnings-growth ratio of 26.91 and a beta of 1.02. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50.

Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.29. The firm had revenue of $646.00 million during the quarter, compared to the consensus estimate of $632.24 million. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. As a group, equities analysts anticipate that Okta, Inc. will post 0.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

OKTA has been the topic of a number of research reports. Citigroup decreased their price target on shares of Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Stifel Nicolaus decreased their target price on shares of Okta from $122.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Scotiabank decreased their target price on shares of Okta from $104.00 to $92.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 29th. Guggenheim reissued a “buy” rating and issued a $130.00 target price on shares of Okta in a research note on Tuesday, June 25th. Finally, Westpark Capital reissued a “buy” rating and issued a $140.00 target price on shares of Okta 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 eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $104.43.

Okta Company 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.