Benjamin Edwards Inc. Acquires Shares of 6,799 Okta, Inc. (NASDAQ:OKTA)

Benjamin Edwards Inc. acquired a new position in Okta, Inc. (NASDAQ:OKTA - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 6,799 shares of the company's stock, valued at approximately $505,000.

Several other hedge funds have also recently made changes to their positions in OKTA. Future Financial Wealth Managment LLC bought a new position in Okta in the third quarter worth $26,000. Blue Trust Inc. increased its stake in shares of Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company's stock worth $28,000 after acquiring an additional 191 shares in the last quarter. First Command Advisory Services Inc. purchased a new position in Okta during the 2nd quarter valued at about $47,000. nVerses Capital LLC bought a new stake in Okta during the second quarter worth about $47,000. Finally, Planning Capital Management Corp purchased a new stake in Okta in the third quarter worth about $49,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on OKTA. Mizuho dropped their price target on Okta from $104.00 to $92.00 and set a "neutral" rating on the stock in a research report on Thursday, October 17th. The Goldman Sachs Group boosted their target price on Okta from $97.00 to $107.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Scotiabank raised their price target on Okta from $92.00 to $96.00 and gave the company a "sector perform" rating in a report on Wednesday, December 4th. Stifel Nicolaus lifted their price target on Okta from $108.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, DA Davidson increased their price objective on shares of Okta from $75.00 to $90.00 and gave the company a "neutral" rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $103.77.

Insider Buying and Selling

In other Okta news, CEO Todd Mckinnon sold 32,516 shares of Okta stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $76.22, for a total value of $2,478,369.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Larissa Schwartz sold 2,791 shares of the company's stock in a transaction that occurred 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 sale, the insider now directly owns 22,125 shares in the company, valued at $1,581,937.50. This trade represents a 11.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 607,215 shares of company stock valued at $46,304,810. Company insiders own 7.00% of the company's stock.

Okta Price Performance

Shares of OKTA traded down $1.59 during mid-day trading on Monday, reaching $83.20. The stock had a trading volume of 3,358,289 shares, compared to its average volume of 2,126,813. The business has a fifty day moving average of $75.95 and a 200 day moving average of $83.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market cap of $14.13 billion, a price-to-earnings ratio of -237.71, a PEG ratio of 8.91 and a beta of 1.00. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $114.50.

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.