Atria Wealth Solutions Inc. Purchases 3,116 Shares of Okta, Inc. (NASDAQ:OKTA)

Atria Wealth Solutions Inc. lifted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 126.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,580 shares of the company’s stock after acquiring an additional 3,116 shares during the period. Atria Wealth Solutions Inc.’s holdings in Okta were worth $505,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Okta by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 15,281,123 shares of the company’s stock worth $1,245,564,000 after purchasing an additional 123,216 shares in the last quarter. Sands Capital Management LLC boosted its position in shares of Okta by 2.4% during the third quarter. Sands Capital Management LLC now owns 5,871,958 shares of the company’s stock valued at $478,623,000 after buying an additional 136,267 shares during the last quarter. Cerity Partners LLC increased its holdings in Okta by 6,192.3% in the 4th quarter. Cerity Partners LLC now owns 3,172,223 shares of the company’s stock worth $287,181,000 after buying an additional 3,121,809 shares in the last quarter. Eminence Capital LP raised its position in Okta by 7.7% in the 3rd quarter. Eminence Capital LP now owns 1,599,703 shares of the company’s stock worth $130,392,000 after buying an additional 113,994 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Okta by 8.2% in the 3rd quarter. Legal & General Group Plc now owns 1,150,442 shares of the company’s stock worth $93,773,000 after buying an additional 87,102 shares during the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Shibu Ninan sold 2,500 shares of Okta stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $90.23, for a total value of $225,575.00. Following the completion of the transaction, the chief accounting officer now owns 6,539 shares in the company, valued at $590,013.97. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Okta news, CAO Shibu Ninan sold 2,500 shares of Okta stock in a transaction on Friday, February 16th. The shares were sold at an average price of $90.23, for a total transaction of $225,575.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at $590,013.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shellye L. Archambeau sold 5,000 shares of the stock in a transaction on Thursday, March 14th. The shares were 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 in the company, valued at approximately $646,252.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,779 shares of company stock worth $1,205,990. 7.36% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

OKTA has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price target on shares of Okta from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Bank of America upgraded Okta from an “underperform” rating to a “buy” rating and raised their price target for the stock from $64.00 to $135.00 in a research note on Thursday, February 29th. Westpark Capital upgraded Okta from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Thursday, February 29th. JPMorgan Chase & Co. increased their price objective on shares of Okta from $74.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Finally, Royal Bank of Canada lifted their price target on shares of Okta from $95.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Twenty investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Okta currently has an average rating of “Hold” and a consensus target price of $100.39.

Okta Stock Performance

NASDAQ:OKTA opened at $96.55 on Monday. The company has a market cap of $16.16 billion, a price-to-earnings ratio of -44.49 and a beta of 0.98. Okta, Inc. has a 1 year low of $65.04 and a 1 year high of $114.50. The stock’s 50 day simple moving average is $100.63 and its two-hundred day simple moving average is $86.62. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.67 and a quick ratio of 1.67.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.35. The company had revenue of $605.00 million for the quarter, compared to analysts’ expectations of $586.25 million. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. As a group, equities analysts anticipate that Okta, Inc. will post -1.51 earnings per share for the current fiscal year.

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.