Okta, Inc. (NASDAQ:OKTA) Shares Purchased by Vectors Research Management LLC

Vectors Research Management LLC boosted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 336.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,112 shares of the company’s stock after purchasing 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 filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in shares of Okta by 122.3% during the 3rd quarter. SG Americas Securities LLC now owns 17,021 shares of the company’s stock worth $1,265,000 after purchasing an additional 9,364 shares during the period. Truist Financial Corp grew its position in Okta by 62.5% during the second quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after buying an additional 200,770 shares during the period. CANADA LIFE ASSURANCE Co grew its position in Okta by 14.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 229,105 shares of the company’s stock valued at $23,976,000 after buying an additional 28,183 shares during the period. Atria Wealth Solutions Inc. increased its holdings in Okta by 75.4% in the second quarter. Atria Wealth Solutions Inc. now owns 11,477 shares of the company’s stock valued at $1,074,000 after buying an additional 4,932 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Okta during the 1st quarter worth about $1,172,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Todd Mckinnon sold 224,533 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $74.62, for a total value of $16,754,652.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Larissa Schwartz sold 2,790 shares of the business’s 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 approximately $2,051,039.13. This trade represents a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 475,789 shares of company stock worth $35,701,361. 7.00% of the stock is currently owned by corporate insiders.

Okta Stock Performance

OKTA opened at $76.93 on Friday. The stock’s 50-day moving average price is $74.50 and its 200 day moving average price is $86.36. Okta, Inc. has a 12-month low of $66.69 and a 12-month 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) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.29. The business had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. As a group, research analysts expect that Okta, Inc. will post 0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

OKTA has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their price target on Okta from $110.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. UBS Group decreased their price objective on shares of Okta from $120.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Stifel Nicolaus cut their target price on shares of Okta from $122.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Truist Financial decreased their price target on shares of Okta from $95.00 to $80.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Finally, Citigroup cut their price objective on Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $98.90.

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.