Steward Partners Investment Advisory LLC raised its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 3,886.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,514 shares of the company's stock after acquiring an additional 24,874 shares during the period. Steward Partners Investment Advisory LLC's holdings in Okta were worth $2,310,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in shares of Okta by 6.0% in the third quarter. Principal Financial Group Inc. now owns 12,339 shares of the company's stock worth $1,006,000 after buying an additional 694 shares during the period. NBC Securities Inc. purchased a new stake in shares of Okta in the third quarter worth about $27,000. Sigma Planning Corp boosted its position in shares of Okta by 20.5% in the third quarter. Sigma Planning Corp now owns 4,177 shares of the company's stock worth $340,000 after buying an additional 710 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Okta by 11.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 63,145 shares of the company's stock worth $5,147,000 after buying an additional 6,325 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Okta by 14.6% in the third quarter. Oppenheimer & Co. Inc. now owns 17,180 shares of the company's stock worth $1,400,000 after buying an additional 2,189 shares during the period. Hedge funds and other institutional investors own 86.64% of the company's stock.
Okta Price Performance
NASDAQ OKTA traded down $0.13 on Friday, reaching $88.68. 4,041,445 shares of the stock traded hands, compared to its average volume of 1,919,489. The firm's fifty day simple moving average is $97.98 and its 200 day simple moving average is $90.48. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.20. The company has a market cap of $14.85 billion, a price-to-earnings ratio of -53.10 and a beta of 0.98. Okta, Inc. has a 12 month low of $65.04 and a 12 month high of $114.50.
Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.49) by $0.35. The firm had revenue of $605.00 million during the quarter, compared to analyst estimates of $586.25 million. Okta had a negative return on equity of 3.84% and a negative net margin of 11.69%. As a group, research analysts predict that Okta, Inc. will post -1.51 EPS for the current fiscal year.
Insider Buying and Selling at Okta
In other news, Director Shellye L. Archambeau sold 5,000 shares of the firm's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the completion of the sale, the director now directly owns 6,042 shares of the company's stock, valued at approximately $646,252.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Shellye L. Archambeau sold 5,000 shares of the firm's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the completion of the sale, the director now directly owns 6,042 shares of the company's stock, valued at approximately $646,252.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Shibu Ninan sold 4,279 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total value of $445,615.06. Following the completion of the sale, the chief accounting officer now owns 4,111 shares of the company's stock, valued at approximately $428,119.54. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group upped their target price on Okta from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Thursday, February 29th. Oppenheimer increased their price target on Okta from $110.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, February 29th. Royal Bank of Canada increased their price target on Okta from $95.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, February 29th. The Goldman Sachs Group increased their price target on Okta from $105.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, February 29th. Finally, Truist Financial reissued a "hold" rating and issued a $105.00 price target (up previously from $85.00) on shares of Okta in a report on Thursday, February 29th. Nineteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $104.81.
Check Out Our Latest Report on Okta
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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