8,571 Shares in Okta, Inc. (NASDAQ:OKTA) Bought by Accurate Wealth Management LLC

Accurate Wealth Management LLC acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,571 shares of the company's stock, valued at approximately $873,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Marshall Wace LLP increased its stake in shares of Okta by 35.5% during the fourth quarter. Marshall Wace LLP now owns 3,583,937 shares of the company's stock worth $282,414,000 after purchasing an additional 938,509 shares during the period. Norges Bank acquired a new position in Okta in the 4th quarter valued at $234,992,000. Geode Capital Management LLC increased its position in Okta by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company's stock worth $212,385,000 after buying an additional 135,110 shares during the period. Point72 Asset Management L.P. increased its position in Okta by 236.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock worth $176,271,000 after buying an additional 1,572,786 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Okta by 2,135.7% during the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock worth $150,845,000 after buying an additional 1,828,630 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Eric Robert Kelleher sold 5,895 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $113.75, for a total value of $670,556.25. Following the sale, the insider now directly owns 9,828 shares in the company, valued at $1,117,935. This represents a 37.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Jonathan James Addison sold 7,005 shares of the business's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $101.19, for a total transaction of $708,835.95. Following the completion of the transaction, the executive now owns 19,067 shares in the company, valued at $1,929,389.73. This trade represents a 26.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,452 shares of company stock valued at $2,697,360 over the last 90 days. 5.68% of the stock is owned by insiders.

Okta Price Performance

OKTA stock traded down $0.34 during midday trading on Wednesday, reaching $100.44. 2,835,657 shares of the stock were exchanged, compared to its average volume of 3,002,489. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57. The company has a fifty day moving average price of $108.78 and a 200 day moving average price of $98.37. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market capitalization of $17.58 billion, a PE ratio of -286.97, a P/E/G ratio of 6.42 and a beta of 0.84.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings results on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. Okta had a positive return on equity of 0.47% and a negative net margin of 1.54%. The firm had revenue of $688.00 million for the quarter, compared to analyst estimates of $680.14 million. During the same period last year, the firm posted $0.65 earnings per share. The business's revenue for the quarter was up 11.5% on a year-over-year basis. As a group, analysts expect that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Canaccord Genuity Group upped their price target on shares of Okta from $100.00 to $115.00 and gave the company a "hold" rating in a research note on Wednesday, May 28th. Evercore ISI increased their target price on shares of Okta from $122.00 to $130.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 28th. Oppenheimer raised their target price on shares of Okta from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. The Goldman Sachs Group lifted their price target on shares of Okta from $123.00 to $137.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $135.00 price target (up from $110.00) on shares of Okta in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $121.59.

Okta 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.