Alta Wealth Advisors LLC Makes New $223,000 Investment in Okta, Inc. (NASDAQ:OKTA)

Alta Wealth Advisors LLC acquired a new stake in Okta, Inc. (NASDAQ:OKTA) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,005 shares of the company’s stock, valued at approximately $223,000.

Several other institutional investors have also modified their holdings of the company. Slow Capital Inc. raised its stake in Okta by 7.2% in the third quarter. Slow Capital Inc. now owns 30,785 shares of the company’s stock valued at $2,289,000 after buying an additional 2,071 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after acquiring an additional 191 shares during the last quarter. Aaron Wealth Advisors LLC raised its position in shares of Okta by 19.0% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 3,419 shares of the company’s stock worth $254,000 after acquiring an additional 547 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in Okta by 4.6% during the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after purchasing an additional 182 shares during the last quarter. Finally, SWS Partners boosted its holdings in Okta by 31.8% in the third quarter. SWS Partners now owns 32,486 shares of the company’s stock valued at $2,415,000 after purchasing an additional 7,838 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Todd Mckinnon sold 92,729 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $94.92, for a total value of $8,801,836.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CRO Jonathan James Addison sold 9,850 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $77.63, for a total transaction of $764,655.50. Following the completion of the transaction, the executive now directly owns 14,601 shares of the company’s stock, valued at $1,133,475.63. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd Mckinnon sold 92,729 shares of Okta stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $94.92, for a total value of $8,801,836.68. The disclosure for this sale can be found here. Insiders sold a total of 343,989 shares of company stock worth $27,806,184 over the last 90 days. 7.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on OKTA shares. UBS Group reduced their price objective on shares of Okta from $120.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Truist Financial reduced their price target on shares of Okta from $95.00 to $80.00 and set a “hold” rating for the company in a research report on Thursday. Scotiabank dropped their price objective on Okta from $104.00 to $92.00 and set a “sector perform” rating on the stock in a report on Thursday, August 29th. DA Davidson reduced their target price on Okta from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Citigroup decreased their target price on Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $99.38.

Okta Stock Up 0.5 %

OKTA stock opened at $74.82 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average price is $80.44 and its 200 day moving average price is $89.20. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50. The company has a market cap of $12.71 billion, a P/E ratio of -89.07, a P/E/G ratio of 18.05 and a beta of 1.02.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $632.24 million. On average, research analysts expect that Okta, Inc. will post 0.19 earnings per share for the current fiscal 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.