Earned Wealth Advisors LLC Purchases Shares of 1,954 Okta, Inc. (NASDAQ:OKTA)

Earned Wealth Advisors LLC acquired a new stake in Okta, Inc. (NASDAQ:OKTA) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,954 shares of the company’s stock, valued at approximately $206,000.

Several other large investors have also made changes to their positions in OKTA. TD Private Client Wealth LLC lifted its holdings in Okta by 19.6% during the first quarter. TD Private Client Wealth LLC now owns 561 shares of the company’s stock valued at $59,000 after purchasing an additional 92 shares in the last quarter. Allworth Financial LP boosted its stake in Okta by 5.7% during the first quarter. Allworth Financial LP now owns 1,708 shares of the company’s stock worth $173,000 after buying an additional 92 shares during the period. GPS Wealth Strategies Group LLC boosted its stake in Okta by 7.2% during the first quarter. GPS Wealth Strategies Group LLC now owns 1,484 shares of the company’s stock worth $156,000 after buying an additional 100 shares during the period. First Horizon Advisors Inc. boosted its stake in Okta by 18.9% during the first quarter. First Horizon Advisors Inc. now owns 678 shares of the company’s stock worth $71,000 after buying an additional 108 shares during the period. Finally, Stephens Inc. AR boosted its stake in shares of Okta by 3.7% in the first quarter. Stephens Inc. AR now owns 3,417 shares of the company’s stock valued at $360,000 after purchasing an additional 121 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Okta

In other Okta news, CFO Brett Tighe sold 10,000 shares of the firm’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $95.00, for a total transaction of $950,000.00. Following the completion of the sale, the chief financial officer directly owned 132,288 shares in the company, valued at approximately $12,567,360. This trade represents a 7.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Larissa Schwartz sold 2,244 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $100.00, for a total value of $224,400.00. Following the completion of the sale, the insider directly owned 23,640 shares of the company’s stock, valued at approximately $2,364,000. The trade was a 8.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,594 shares of company stock worth $8,382,790 in the last three months. Insiders own 5.68% of the company’s stock.

Okta Stock Performance

OKTA stock opened at $97.72 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market capitalization of $17.11 billion, a price-to-earnings ratio of 155.11, a PEG ratio of 4.59 and a beta of 0.80. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $127.57. The stock’s fifty day moving average is $99.21 and its two-hundred day moving average is $102.56.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.09. The business had revenue of $688.00 million for the quarter, compared to analysts’ expectations of $680.14 million. Okta had a net margin of 4.85% and a return on equity of 2.79%. The company’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 earnings per share. On average, research analysts predict that Okta, Inc. will post 0.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on OKTA shares. Wall Street Zen upgraded shares of Okta from a “hold” rating to a “buy” rating in a research note on Sunday. UBS Group cut their price objective on shares of Okta from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, May 28th. BMO Capital Markets set a $132.00 price target on shares of Okta and gave the company a “market perform” rating in a research report on Wednesday, May 28th. JPMorgan Chase & Co. boosted their price objective on shares of Okta from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, May 23rd. Finally, Guggenheim dropped their price objective on shares of Okta from $140.00 to $138.00 and set a “buy” rating on the stock in a research note on Wednesday, May 28th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, Okta presently has an average rating of “Hold” and an average target price of $118.61.

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.