Okta, Inc. (NASDAQ:OKTA) Shares Bought by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC raised its holdings in Okta, Inc. (NASDAQ:OKTA) by 8.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,367 shares of the company’s stock after buying an additional 332 shares during the period. Octavia Wealth Advisors LLC’s holdings in Okta were worth $459,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in shares of Okta in the 4th quarter valued at about $1,686,000. Charles Schwab Investment Management Inc. boosted its holdings in Okta by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company’s stock valued at $87,903,000 after purchasing an additional 46,064 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Okta by 46.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,833 shares of the company’s stock valued at $854,000 after purchasing an additional 3,429 shares in the last quarter. Westpac Banking Corp increased its stake in Okta by 2,574.9% in the fourth quarter. Westpac Banking Corp now owns 9,817 shares of the company’s stock valued at $774,000 after purchasing an additional 9,450 shares during the last quarter. Finally, World Equity Group Inc. purchased a new position in Okta in the fourth quarter valued at approximately $332,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OKTA. Jefferies Financial Group restated a “hold” rating and issued a $135.00 target price (up previously from $110.00) on shares of Okta in a report on Friday, May 23rd. JMP Securities restated a “market perform” rating on shares of Okta in a research note on Wednesday, May 28th. Cantor Fitzgerald initiated coverage on Okta in a report on Monday, March 31st. They set an “overweight” rating and a $130.00 price objective on the stock. Truist Financial lifted their target price on Okta from $92.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, March 4th. Finally, Stephens reissued an “equal weight” rating and issued a $127.00 target price on shares of Okta in a research report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.59.

Insider Buying and Selling at Okta

In other Okta news, insider Larissa Schwartz sold 11,552 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the transaction, the insider now owns 22,125 shares of the company’s stock, valued at approximately $2,524,241.25. This trade represents a 34.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Jonathan James Addison sold 7,005 shares of the company’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $101.19, for a total value of $708,835.95. Following the completion of the sale, the executive now owns 19,067 shares in the company, valued at $1,929,389.73. This represents a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,452 shares of company stock valued at $2,697,360. Insiders own 5.68% of the company’s stock.

Okta Stock Up 0.9%

Shares of NASDAQ OKTA opened at $105.08 on Monday. The stock has a market capitalization of $18.40 billion, a price-to-earnings ratio of -300.23, a price-to-earnings-growth ratio of 6.42 and a beta of 0.84. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57. The firm has a 50-day moving average price of $108.86 and a 200 day moving average price of $98.18. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Okta (NASDAQ:OKTA) last issued its earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.09. The company had revenue of $688.00 million during the quarter, compared to analysts’ expectations of $680.14 million. Okta had a negative net margin of 1.54% and a positive return on equity of 0.47%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company posted $0.65 earnings per share. Equities research analysts anticipate that Okta, Inc. will post 0.42 EPS 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.