272 Capital LP bought a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 16,700 shares of the company's stock, valued at approximately $1,241,000.
A number of other large investors have also added to or reduced their stakes in the company. CWM LLC boosted its position in shares of Okta by 5.3% during the second quarter. CWM LLC now owns 2,910 shares of the company's stock valued at $272,000 after purchasing an additional 147 shares in the last quarter. Aaron Wealth Advisors LLC lifted its stake in shares of Okta by 30.0% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 2,872 shares of the company's stock valued at $269,000 after buying an additional 662 shares in the last quarter. Atria Wealth Solutions Inc. raised its stake in Okta by 75.4% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 11,477 shares of the company's stock valued at $1,074,000 after purchasing an additional 4,932 shares during the period. Shelton Wealth Management LLC bought a new stake in shares of Okta during the second quarter valued at approximately $1,022,000. Finally, Nicholas Company Inc. grew its position in shares of Okta by 6.0% during the second quarter. Nicholas Company Inc. now owns 203,297 shares of the company's stock valued at $19,031,000 after purchasing an additional 11,585 shares in the last quarter. Institutional investors own 86.64% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Okta from $108.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. BMO Capital Markets upped their target price on Okta from $103.00 to $105.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. JMP Securities reissued a "market perform" rating on shares of Okta in a research report on Wednesday, December 4th. Robert W. Baird upped their price target on Okta from $95.00 to $105.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Finally, Bank of America cut shares of Okta from a "buy" rating to an "underperform" rating and decreased their price target for the stock from $135.00 to $75.00 in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Okta has an average rating of "Hold" and an average target price of $103.77.
Get Our Latest Research Report on Okta
Insider Activity
In related news, insider Larissa Schwartz sold 2,790 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $74.01, for a total value of $206,487.90. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd Mckinnon sold 200,512 shares of the firm's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.21, for a total value of $15,080,507.52. Following the sale, the chief executive officer now directly owns 8,495 shares of the company's stock, valued at approximately $638,908.95. This trade represents a 95.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 607,215 shares of company stock worth $46,304,810 over the last ninety days. Corporate insiders own 7.00% of the company's stock.
Okta Price Performance
OKTA stock traded down $1.92 during midday trading on Friday, reaching $81.99. The stock had a trading volume of 1,875,880 shares, compared to its average volume of 2,139,198. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The company's fifty day simple moving average is $76.64 and its 200 day simple moving average is $83.72. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $114.50. The company has a market cap of $13.93 billion, a price-to-earnings ratio of -239.74, a price-to-earnings-growth ratio of 8.93 and a beta of 1.00.
Okta Profile
(
Free Report)
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.
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