L & S Advisors Inc Takes Position in Okta, Inc. (NASDAQ:OKTA)

L & S Advisors Inc purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,200 shares of the company’s stock, valued at approximately $206,000.

Several other institutional investors have also made changes to their positions in the stock. Gilbert & Cook Inc. increased its holdings in Okta by 21.4% in the fourth quarter. Gilbert & Cook Inc. now owns 15,196 shares of the company’s stock worth $1,376,000 after buying an additional 2,676 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of Okta during the 4th quarter worth $48,000. Great Lakes Advisors LLC acquired a new position in shares of Okta during the 4th quarter worth $557,000. Norges Bank bought a new position in shares of Okta during the 4th quarter valued at $150,794,000. Finally, BNP Paribas Asset Management Holding S.A. lifted its stake in shares of Okta by 1.3% in the 4th quarter. BNP Paribas Asset Management Holding S.A. now owns 67,171 shares of the company’s stock valued at $6,081,000 after purchasing an additional 844 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Okta news, insider Larissa Schwartz sold 2,790 shares of Okta stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $74.01, for a total transaction of $206,487.90. Following the sale, the insider now directly owns 27,713 shares of the company’s stock, valued at $2,051,039.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Larissa Schwartz sold 2,790 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.01, for a total value of $206,487.90. Following the sale, the insider now owns 27,713 shares of the company’s stock, valued at approximately $2,051,039.13. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jacques Frederic Kerrest sold 1,552 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $86.99, for a total value of $135,008.48. The disclosure for this sale can be found here. Insiders sold 348,963 shares of company stock valued at $32,972,289 over the last quarter. Corporate insiders own 7.00% of the company’s stock.

Analysts Set New Price Targets

OKTA has been the topic of a number of analyst reports. Piper Sandler lowered their price objective on Okta from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Jefferies Financial Group lowered their price target on Okta from $110.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, August 29th. Bank of America cut shares of Okta from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $135.00 to $75.00 in a research note on Thursday, August 29th. UBS Group lowered their target price on shares of Okta from $120.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Wedbush reissued an “outperform” rating and set a $130.00 target price on shares of Okta in a research report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Okta currently has a consensus rating of “Hold” and an average price target of $105.14.

Okta Price Performance

NASDAQ:OKTA opened at $74.21 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. The company has a 50-day moving average of $88.92 and a 200-day moving average of $94.45. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50. The company has a market capitalization of $12.48 billion, a price-to-earnings ratio of -44.44, a PEG ratio of 40.71 and a beta of 1.02.

About Okta

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.