Okta, Inc. (NASDAQ:OKTA) Shares Bought by Vectors Research Management LLC

Vectors Research Management LLC grew its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 336.8% in the third quarter, Holdings Channel.com reports. The fund owned 16,112 shares of the company’s stock after purchasing an additional 12,423 shares during the period. Vectors Research Management LLC’s holdings in Okta were worth $1,198,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of OKTA. SG Americas Securities LLC increased its holdings in Okta by 122.3% during the 3rd quarter. SG Americas Securities LLC now owns 17,021 shares of the company’s stock valued at $1,265,000 after acquiring an additional 9,364 shares in the last quarter. Truist Financial Corp increased its stake in Okta by 62.5% in the second quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after purchasing an additional 200,770 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Okta by 14.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 229,105 shares of the company’s stock worth $23,976,000 after acquiring an additional 28,183 shares during the period. Atria Wealth Solutions Inc. increased its position in Okta by 75.4% during the second quarter. Atria Wealth Solutions Inc. now owns 11,477 shares of the company’s stock worth $1,074,000 after purchasing an additional 4,932 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Okta in the first quarter valued at $1,172,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Down 1.9 %

Shares of NASDAQ OKTA opened at $76.93 on Friday. Okta, Inc. has a 1 year low of $66.69 and a 1 year high of $114.50. The stock has a fifty day moving average price of $74.50 and a two-hundred day moving average price of $86.36. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.29. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. The business had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $632.24 million. As a group, equities analysts forecast that Okta, Inc. will post 0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OKTA has been the topic of a number of recent research reports. Canaccord Genuity Group reduced their price target on shares of Okta from $90.00 to $82.00 and set a “hold” rating on the stock in a research report on Friday, October 18th. BMO Capital Markets raised their price target on shares of Okta from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Thursday, August 29th. Susquehanna dropped their price target on shares of Okta from $110.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. BTIG Research decreased their price objective on shares of Okta from $128.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Finally, Piper Sandler dropped their target price on Okta from $100.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Okta has an average rating of “Hold” and a consensus target price of $98.90.

Insider Transactions at Okta

In related news, CRO Jonathan James Addison sold 9,850 shares of Okta stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $77.63, for a total value of $764,655.50. Following the transaction, the executive now owns 14,601 shares of the company’s stock, valued at approximately $1,133,475.63. This trade represents a 40.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Todd Mckinnon sold 200,512 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the sale, the chief executive officer now directly owns 8,495 shares of the company’s stock, valued at $638,908.95. This represents a 95.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 475,789 shares of company stock valued at $35,701,361 in the last quarter. Insiders own 7.00% of the company’s stock.

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.