L & S Advisors Inc Purchases New Shares in Okta, Inc. (NASDAQ:OKTA)

L & S Advisors Inc acquired a new position in Okta, Inc. (NASDAQ:OKTA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,200 shares of the company’s stock, valued at approximately $206,000.

Several other large investors also recently made changes to their positions in the business. City State Bank lifted its position in Okta by 160.0% during the 1st quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after buying an additional 160 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after purchasing an additional 142 shares in the last quarter. First Command Advisory Services Inc. acquired a new position in shares of Okta during the second quarter worth approximately $47,000. nVerses Capital LLC bought a new stake in shares of Okta during the second quarter valued at approximately $47,000. Finally, Principal Securities Inc. acquired a new stake in shares of Okta in the fourth quarter valued at approximately $48,000. Institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling

In related news, Director Jacques Frederic Kerrest sold 1,552 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $86.99, for a total transaction of $135,008.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Larissa Schwartz sold 2,790 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.01, for a total value of $206,487.90. Following the completion of the transaction, the insider now directly owns 27,713 shares in the company, valued at approximately $2,051,039.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jacques Frederic Kerrest sold 1,552 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $86.99, for a total value of $135,008.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 348,963 shares of company stock worth $32,972,289. Company insiders own 7.00% of the company’s stock.

Okta Price Performance

Shares of NASDAQ OKTA opened at $74.21 on Wednesday. The business has a fifty day moving average price of $88.92 and a two-hundred day moving average price of $94.45. The stock has a market capitalization of $12.48 billion, a PE ratio of -44.44, a P/E/G ratio of 40.71 and a beta of 1.02. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. Okta, Inc. has a fifty-two week low of $65.04 and a fifty-two week high of $114.50.

Wall Street Analyst Weigh In

Several research firms have issued reports on OKTA. Jefferies Financial Group reduced their price objective on Okta from $110.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, August 29th. Scotiabank dropped their price objective on Okta from $104.00 to $92.00 and set a “sector perform” rating for the company in a report on Thursday, August 29th. Stifel Nicolaus decreased their target price on Okta from $122.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Bank of America cut Okta from a “buy” rating to an “underperform” rating and lowered their price target for the company from $135.00 to $75.00 in a research note on Thursday, August 29th. Finally, Wells Fargo & Company reduced their price objective on shares of Okta from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $105.14.

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.