Blueshift Asset Management LLC Makes New Investment in Okta, Inc. (NASDAQ:OKTA)

Blueshift Asset Management LLC acquired a new stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 13,425 shares of the company's stock, valued at approximately $998,000.

Other institutional investors have also recently made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new stake in Okta in the third quarter valued at about $26,000. Blue Trust Inc. raised its position in shares of Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company's stock valued at $28,000 after purchasing an additional 191 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Okta by 71.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company's stock worth $36,000 after purchasing an additional 142 shares in the last quarter. First Command Advisory Services Inc. purchased a new stake in Okta during the 2nd quarter worth approximately $47,000. Finally, nVerses Capital LLC purchased a new stake in Okta during the 2nd quarter worth approximately $47,000. Institutional investors and hedge funds own 86.64% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on OKTA. Citigroup lowered their price objective on shares of Okta from $115.00 to $110.00 and set a "neutral" rating for the company in a research note on Thursday, August 29th. Needham & Company LLC assumed coverage on Okta in a research note on Thursday, October 17th. They set a "buy" rating and a $100.00 price target on the stock. The Goldman Sachs Group reduced their price objective on Okta from $113.00 to $97.00 and set a "buy" rating for the company in a research note on Tuesday, October 22nd. Truist Financial dropped their target price on Okta from $95.00 to $80.00 and set a "hold" rating on the stock in a research report on Thursday, October 17th. Finally, Royal Bank of Canada reduced their price target on shares of Okta from $125.00 to $101.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $98.30.

Insiders Place Their Bets

In related news, insider Larissa Schwartz sold 2,791 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $71.50, for a total transaction of $199,556.50. Following the transaction, the insider now owns 22,125 shares of the company's stock, valued at approximately $1,581,937.50. This represents a 11.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd Mckinnon sold 200,512 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the sale, the chief executive officer now directly owns 8,495 shares in the company, valued at $638,908.95. This represents a 95.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 475,789 shares of company stock valued at $35,701,361 over the last quarter. 7.00% of the stock is owned by insiders.

Okta Trading Up 0.4 %

NASDAQ OKTA opened at $76.83 on Wednesday. The business's fifty day simple moving average is $74.77 and its 200-day simple moving average is $85.17. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. Okta, Inc. has a 52 week low of $66.69 and a 52 week high of $114.50.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly 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 business had revenue of $646.00 million during the quarter, compared to the consensus estimate of $632.24 million. On average, equities research analysts predict that Okta, Inc. will post 0.19 EPS for the current year.

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.

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