Okta, Inc. (NASDAQ:OKTA) Stock Holdings Lifted by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC grew its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 165.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 7,048 shares of the company’s stock after acquiring an additional 4,395 shares during the period. Greenwood Capital Associates LLC’s holdings in Okta were worth $742,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of OKTA. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Okta by 52.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company’s stock valued at $956,000 after acquiring an additional 4,171 shares in the last quarter. Merit Financial Group LLC purchased a new position in Okta in the first quarter valued at about $823,000. SBI Securities Co. Ltd. acquired a new position in Okta in the 4th quarter worth about $1,686,000. GAMMA Investing LLC increased its position in Okta by 37,287.3% in the 1st quarter. GAMMA Investing LLC now owns 126,369 shares of the company’s stock worth $13,297,000 after purchasing an additional 126,031 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Okta by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company’s stock worth $87,903,000 after purchasing an additional 46,064 shares in the last quarter. 86.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on OKTA shares. Wells Fargo & Company lifted their price objective on shares of Okta from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 28th. Scotiabank upped their price target on Okta from $109.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 28th. Oppenheimer increased their price objective on Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. The Goldman Sachs Group raised their price objective on Okta from $123.00 to $137.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. Finally, Guggenheim reduced their target price on Okta from $140.00 to $138.00 and set a “buy” rating for the company in a report on Wednesday, May 28th. 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 stock. According to data from MarketBeat, Okta currently has an average rating of “Moderate Buy” and a consensus price target of $121.59.

Insider Transactions at Okta

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

Okta Stock Down 0.3%

Shares of NASDAQ OKTA opened at $100.18 on Friday. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $127.57. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market cap of $17.54 billion, a P/E ratio of -286.23, a P/E/G ratio of 6.42 and a beta of 0.84. The firm has a 50 day moving average price of $109.13 and a 200 day moving average price of $98.55.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. The company had revenue of $688.00 million for 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 business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share. Analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

Okta 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.