Okta, Inc. (NASDAQ:OKTA) Shares Bought by Quest Partners LLC

Quest Partners LLC lifted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 346.2% during the third quarter, Holdings Channel.com reports. The firm owned 7,134 shares of the company’s stock after acquiring an additional 5,535 shares during the period. Quest Partners LLC’s holdings in Okta were worth $530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new position in Okta in the 3rd quarter worth about $26,000. Blue Trust Inc. raised its stake in shares of Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after buying an additional 191 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Okta by 71.4% during 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. acquired a new stake in Okta in the 2nd quarter valued at $47,000. Finally, nVerses Capital LLC purchased a new stake in Okta in the 2nd quarter worth $47,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Stock Up 1.5 %

Shares of OKTA opened at $76.57 on Friday. The company’s 50-day simple moving average is $74.72 and its 200-day simple moving average is $85.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. Okta, Inc. has a 1 year low of $66.69 and a 1 year high of $114.50. The stock has a market capitalization of $13.01 billion, a PE ratio of -91.15, a P/E/G ratio of 18.47 and a beta of 1.02.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $632.24 million. Analysts forecast that Okta, Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity at Okta

In related news, insider Larissa Schwartz sold 2,791 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $71.50, for a total value of $199,556.50. Following the transaction, the insider now owns 22,125 shares of the company’s stock, valued at $1,581,937.50. This represents a 11.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Jonathan James Addison sold 9,850 shares of Okta stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $77.63, for a total value of $764,655.50. Following the sale, the executive now directly owns 14,601 shares of the company’s stock, valued at $1,133,475.63. This trade represents a 40.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 475,789 shares of company stock worth $35,701,361. Company insiders own 7.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on OKTA shares. Stifel Nicolaus dropped their target price on shares of Okta from $122.00 to $108.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Citigroup reduced their target price on Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Bank of America lowered Okta from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $135.00 to $75.00 in a research note on Thursday, August 29th. DA Davidson reduced their price objective on Okta from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Finally, Jefferies Financial Group lowered their target price on shares of Okta from $100.00 to $85.00 and set a “hold” rating on the stock in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Okta presently has a consensus rating of “Hold” and an average price target of $98.30.

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.