Okta, Inc. (NASDAQ:OKTA) Shares Purchased by LMG Wealth Partners LLC

LMG Wealth Partners LLC boosted its position in Okta, Inc. (NASDAQ:OKTA) by 3.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,223 shares of the company’s stock after purchasing an additional 716 shares during the quarter. LMG Wealth Partners LLC’s holdings in Okta were worth $2,444,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in OKTA. PNC Financial Services Group Inc. grew its holdings in Okta by 7.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,362 shares of the company’s stock valued at $501,000 after buying an additional 437 shares during the period. Creative Financial Designs Inc. ADV grew its holdings in shares of Okta by 23.9% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,111 shares of the company’s stock worth $166,000 after purchasing an additional 407 shares during the period. Parallel Advisors LLC grew its holdings in shares of Okta by 37.6% during the 4th quarter. Parallel Advisors LLC now owns 4,670 shares of the company’s stock worth $368,000 after purchasing an additional 1,275 shares during the period. Xponance Inc. grew its holdings in shares of Okta by 11.3% during the 4th quarter. Xponance Inc. now owns 22,389 shares of the company’s stock worth $1,764,000 after purchasing an additional 2,271 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Okta during the 4th quarter worth about $228,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Buying and Selling at Okta

In other news, insider Larissa Schwartz sold 2,244 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $100.00, for a total value of $224,400.00. Following the completion of the transaction, the insider owned 23,640 shares of the company’s stock, valued at approximately $2,364,000. This represents a 8.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jacques Frederic Kerrest sold 581 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $100.29, for a total value of $58,268.49. Following the completion of the transaction, the director directly owned 2,832 shares of the company’s stock, valued at approximately $284,021.28. The trade was a 17.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,930 shares of company stock valued at $391,511. Company insiders own 5.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Morgan Stanley decreased their target price on Okta from $125.00 to $123.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Arete Research upgraded Okta to a “strong sell” rating and set a $83.00 price target for the company in a report on Monday, July 7th. Loop Capital started coverage on Okta in a report on Monday, May 5th. They issued a “buy” rating and a $140.00 price target for the company. Mizuho decreased their price target on Okta from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, May 28th. Finally, Wells Fargo & Company upped their price target on Okta from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 28th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, Okta currently has a consensus rating of “Hold” and an average target price of $119.44.

Okta Price Performance

Shares of OKTA opened at $91.10 on Wednesday. The company has a market cap of $15.95 billion, a P/E ratio of 144.61, a PEG ratio of 4.45 and a beta of 0.82. The stock has a fifty day moving average price of $106.71 and a 200 day moving average price of $101.11. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.47 and a quick ratio of 1.47. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $127.57.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.09. Okta had a return on equity of 2.79% and a net margin of 4.85%. The company had revenue of $688.00 million during the quarter, compared to analysts’ expectations of $680.14 million. During the same quarter in the prior year, the business posted $0.65 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, research analysts forecast that Okta, Inc. will post 0.42 earnings per share 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.