Okta, Inc. (NASDAQ:OKTA) Stock Holdings Increased by Wahed Invest LLC

Wahed Invest LLC increased its holdings in Okta, Inc. (NASDAQ:OKTA) by 16.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,029 shares of the company’s stock after purchasing an additional 423 shares during the quarter. Wahed Invest LLC’s holdings in Okta were worth $317,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Banque Cantonale Vaudoise raised its holdings in shares of Okta by 4.3% in the 1st quarter. Banque Cantonale Vaudoise now owns 2,933 shares of the company’s stock worth $307,000 after purchasing an additional 122 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Okta by 50.4% in the first quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock worth $41,000 after acquiring an additional 131 shares in the last quarter. City State Bank increased its position in shares of Okta by 160.0% in the first quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after acquiring an additional 160 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Okta by 6.9% in the first quarter. Ballentine Partners LLC now owns 2,651 shares of the company’s stock worth $277,000 after acquiring an additional 170 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Okta by 1.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 15,136 shares of the company’s stock worth $1,370,000 after acquiring an additional 189 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Okta

In other Okta news, CEO Todd Mckinnon sold 179,687 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $93.42, for a total value of $16,786,359.54. Following the completion of the sale, the chief executive officer now owns 47,883 shares in the company, valued at approximately $4,473,229.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Todd Mckinnon sold 179,687 shares of Okta stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $93.42, for a total transaction of $16,786,359.54. Following the completion of the sale, the chief executive officer now owns 47,883 shares in the company, valued at approximately $4,473,229.86. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jacques Frederic Kerrest sold 1,552 shares of Okta stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $86.99, for a total transaction of $135,008.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 362,256 shares of company stock worth $34,154,578. 7.00% of the stock is currently owned by corporate insiders.

Okta Price Performance

Shares of Okta stock traded down $4.69 during mid-day trading on Friday, reaching $86.69. 2,180,026 shares of the stock were exchanged, compared to its average volume of 1,821,876. The company has a market cap of $14.58 billion, a price-to-earnings ratio of -52.99 and a beta of 1.03. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.19. The firm has a 50-day simple moving average of $92.22 and a 200 day simple moving average of $94.23. Okta, Inc. has a fifty-two week low of $65.04 and a fifty-two week high of $114.50.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Wednesday, May 29th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.27. The firm had revenue of $617.00 million during the quarter, compared to analysts’ expectations of $604.33 million. Okta had a negative net margin of 11.69% and a negative return on equity of 3.81%. On average, sell-side analysts predict that Okta, Inc. will post -0.28 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on OKTA shares. BMO Capital Markets dropped their target price on shares of Okta from $110.00 to $100.00 and set a “market perform” rating on the stock in a research report on Monday, June 3rd. JPMorgan Chase & Co. lifted their target price on shares of Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price objective on shares of Okta in a research report on Thursday, May 30th. Mizuho boosted their price objective on shares of Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Friday, May 17th. Finally, Susquehanna lowered their price objective on shares of Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Nineteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $105.58.

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.