Virtus Investment Advisers LLC Purchases Shares of 13,406 Okta, Inc. $OKTA

Virtus Investment Advisers LLC acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 13,406 shares of the company’s stock, valued at approximately $1,340,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbour Investments Inc. boosted its holdings in Okta by 152.4% in the first quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock valued at $27,000 after purchasing an additional 157 shares in the last quarter. Pinnacle Bancorp Inc. acquired a new position in shares of Okta in the 2nd quarter valued at $26,000. Cullen Frost Bankers Inc. grew its position in shares of Okta by 88.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock valued at $34,000 after buying an additional 159 shares during the last quarter. Kiker Wealth Management LLC grew its position in shares of Okta by 1,159.3% in the 2nd quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock valued at $34,000 after buying an additional 313 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its stake in Okta by 126.0% during the 2nd quarter. V Square Quantitative Management LLC now owns 504 shares of the company’s stock worth $50,000 after acquiring an additional 281 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Buying and Selling

In other news, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $95.00, for a total value of $950,000.00. Following the sale, the chief financial officer owned 133,336 shares of the company’s stock, valued at $12,666,920. The trade was a 6.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jonathan James Addison sold 6,091 shares of the business’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $92.61, for a total transaction of $564,087.51. Following the transaction, the executive owned 7,067 shares in the company, valued at approximately $654,474.87. This trade represents a 46.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 64,975 shares of company stock worth $6,011,126 in the last ninety days. Insiders own 5.68% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on OKTA. Guggenheim restated a “buy” rating and issued a $60.00 price objective on shares of Okta in a research note on Friday, November 14th. Jefferies Financial Group set a $90.00 target price on Okta in a research report on Tuesday. Zacks Research downgraded Okta from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 28th. Wall Street Zen raised Okta from a “hold” rating to a “buy” rating in a research report on Sunday, August 3rd. Finally, BTIG Research reissued a “buy” rating and issued a $142.00 price objective on shares of Okta in a report on Friday, September 26th. Twenty-three investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Okta has an average rating of “Moderate Buy” and an average price target of $116.50.

Okta Trading Down 0.3%

Okta stock opened at $80.32 on Friday. The stock has a 50 day moving average of $87.50 and a two-hundred day moving average of $95.11. Okta, Inc. has a twelve month low of $76.03 and a twelve month high of $127.57. The stock has a market capitalization of $14.06 billion, a price-to-earnings ratio of 94.49, a PEG ratio of 3.95 and a beta of 0.84.

Okta (NASDAQ:OKTA) last released its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Okta had a return on equity of 3.31% and a net margin of 6.08%.The business had revenue of $728,000 billion for the quarter, compared to analyst estimates of $711.84 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. Equities analysts predict 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.