Vectors Research Management LLC Purchases 12,423 Shares of Okta, Inc. (NASDAQ:OKTA)

Vectors Research Management LLC increased its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 336.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,112 shares of the company's stock after buying an additional 12,423 shares during the period. Vectors Research Management LLC's holdings in Okta were worth $1,198,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Future Financial Wealth Managment LLC purchased a new position in shares of Okta during the 3rd quarter worth about $26,000. Blue Trust Inc. boosted its holdings in Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company's stock valued at $28,000 after acquiring an additional 191 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company's stock worth $36,000 after acquiring an additional 142 shares during the last quarter. First Command Advisory Services Inc. purchased a new position in shares of Okta in the 2nd quarter worth about $47,000. Finally, nVerses Capital LLC acquired a new stake in shares of Okta in the second quarter worth $47,000. Hedge funds and other institutional investors own 86.64% of the company's stock.

Insider Activity at Okta

In other news, insider Larissa Schwartz sold 2,790 shares of Okta stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.01, for a total transaction of $206,487.90. Following the transaction, the insider now owns 27,713 shares in the company, valued at $2,051,039.13. The trade was a 9.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd Mckinnon sold 200,512 shares of Okta stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the completion of the transaction, the chief executive officer now directly owns 8,495 shares in the company, valued at approximately $638,908.95. The trade was a 95.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 475,789 shares of company stock valued at $35,701,361 in the last three months. Corporate insiders own 7.00% of the company's stock.

Okta Price Performance

Shares of Okta stock traded down $3.27 on Friday, reaching $73.66. The stock had a trading volume of 1,949,316 shares, compared to its average volume of 1,920,680. The business's 50-day moving average price is $74.50 and its two-hundred day moving average price is $86.36. Okta, Inc. has a fifty-two week low of $66.69 and a fifty-two week high of $114.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 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 during the quarter, compared to the consensus estimate of $632.24 million. Sell-side analysts forecast that Okta, Inc. will post 0.19 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on OKTA. Piper Sandler cut their price objective on Okta from $100.00 to $85.00 and set a "neutral" rating on the stock in a research report on Thursday, October 17th. Mizuho dropped their price target on shares of Okta from $104.00 to $92.00 and set a "neutral" rating on the stock in a research note on Thursday, October 17th. Jefferies Financial Group lowered their price objective on Okta from $100.00 to $85.00 and set a "hold" rating for the company in a research note on Tuesday, September 24th. Truist Financial cut 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, JPMorgan Chase & Co. decreased their price target on shares of Okta from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $98.90.

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.