13,406 Shares in Okta, Inc. $OKTA Bought by Virtus Investment Advisers LLC

Virtus Investment Advisers LLC acquired a new position in Okta, Inc. (NASDAQ:OKTA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,406 shares of the company’s stock, valued at approximately $1,340,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pinnacle Bancorp Inc. acquired a new position in shares of Okta during the 2nd quarter worth $26,000. Harbour Investments Inc. boosted its holdings in Okta by 152.4% during the first quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock worth $27,000 after buying an additional 157 shares in the last quarter. Kiker Wealth Management LLC boosted its holdings in Okta by 1,159.3% during the second quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock worth $34,000 after buying an additional 313 shares in the last quarter. Cullen Frost Bankers Inc. grew its position in Okta by 88.3% during the second quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after buying an additional 159 shares during the period. Finally, V Square Quantitative Management LLC increased its holdings in Okta by 126.0% in the second quarter. V Square Quantitative Management LLC now owns 504 shares of the company’s stock valued at $50,000 after buying an additional 281 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Buying and Selling at Okta

In related news, CFO Brett Tighe sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $95.00, for a total transaction of $950,000.00. Following the sale, the chief financial officer owned 133,336 shares in the company, valued at approximately $12,666,920. This trade represents a 6.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Jonathan James Addison sold 6,091 shares of Okta stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $92.61, for a total transaction of $564,087.51. Following the completion of the sale, the executive directly owned 7,067 shares of the company’s stock, valued at $654,474.87. The trade was a 46.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 64,975 shares of company stock valued at $6,011,126. 5.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OKTA. Scotiabank decreased their price target on Okta from $115.00 to $105.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 27th. Robert W. Baird reduced their price objective on Okta from $142.00 to $135.00 and set an “outperform” rating for the company in a report on Monday, September 29th. Citigroup reissued a “market perform” rating on shares of Okta in a report on Wednesday, August 27th. Truist Financial upgraded Okta from a “hold” rating to a “buy” rating and raised their price target for the company from $100.00 to $125.00 in a research report on Monday, August 25th. Finally, Barclays cut their price target on Okta from $112.00 to $95.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 18th. Twenty-three research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $116.50.

Okta Trading Down 0.3%

Okta stock opened at $80.32 on Friday. The stock has a 50-day moving average price of $87.50 and a 200 day moving average price of $95.11. Okta, Inc. has a 52 week low of $76.03 and a 52 week high of $127.57. The stock has a market cap of $14.06 billion, a PE ratio of 94.49, a P/E/G ratio of 3.95 and a beta of 0.84.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.07. The company had revenue of $728,000 billion for the quarter, compared to analysts’ expectations of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the company earned $0.72 EPS. On average, equities analysts predict that Okta, Inc. will post 0.42 EPS for the current year.

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.