10,447 Shares in Okta, Inc. (NASDAQ:OKTA) Purchased by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP acquired a new stake in Okta, purchasing 10,447 shares valued at approximately $1,099,000 during the first quarter.
• Analysts currently have a consensus rating of "Hold" on Okta, with three recommending a sell, fourteen a hold, and twenty-one a buy rating.
• Insider transactions show significant sales, including CFO Brett Tighe selling 10,000 shares valued at $950,000, representing a 7.03% decrease in their position.

Aigen Investment Management LP purchased a new stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,447 shares of the company's stock, valued at approximately $1,099,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TD Private Client Wealth LLC boosted its holdings in Okta by 19.6% in the first quarter. TD Private Client Wealth LLC now owns 561 shares of the company's stock valued at $59,000 after purchasing an additional 92 shares during the last quarter. Allworth Financial LP boosted its holdings in Okta by 5.7% in the first quarter. Allworth Financial LP now owns 1,708 shares of the company's stock valued at $173,000 after purchasing an additional 92 shares during the last quarter. GPS Wealth Strategies Group LLC boosted its holdings in Okta by 7.2% in the first quarter. GPS Wealth Strategies Group LLC now owns 1,484 shares of the company's stock valued at $156,000 after purchasing an additional 100 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of Okta by 18.9% in the first quarter. First Horizon Advisors Inc. now owns 678 shares of the company's stock worth $71,000 after acquiring an additional 108 shares during the period. Finally, Stephens Inc. AR raised its position in shares of Okta by 3.7% in the first quarter. Stephens Inc. AR now owns 3,417 shares of the company's stock worth $360,000 after acquiring an additional 121 shares during the period. Institutional investors own 86.64% of the company's stock.

Okta Stock Up 1.8%

OKTA traded up $1.65 during trading on Wednesday, reaching $90.98. The company had a trading volume of 2,276,356 shares, compared to its average volume of 3,522,615. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.47 and a quick ratio of 1.47. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $127.57. The business's fifty day moving average price is $97.09 and its 200 day moving average price is $102.57. The company has a market cap of $15.93 billion, a P/E ratio of 144.41, a PEG ratio of 4.32 and a beta of 0.80.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. Okta had a net margin of 4.85% and a return on equity of 2.79%. The firm had revenue of $688.00 million for the quarter, compared to analyst estimates of $680.14 million. During the same quarter in the previous year, the firm posted $0.65 earnings per share. The business's revenue was up 11.5% on a year-over-year basis. Equities analysts anticipate that Okta, Inc. will post 0.42 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on OKTA shares. Jefferies Financial Group reduced their price target on shares of Okta from $130.00 to $105.00 and set a "hold" rating for the company in a research report on Thursday, July 24th. Stephens reiterated an "equal weight" rating and issued a $127.00 price objective on shares of Okta in a report on Tuesday, May 27th. Arete started coverage on shares of Okta in a report on Monday, July 7th. They issued a "sell" rating and a $83.00 price objective on the stock. Stifel Nicolaus upped their target price on shares of Okta from $120.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Finally, Scotiabank upped their target price on shares of Okta from $109.00 to $115.00 and gave the company a "sector perform" rating in a report on Wednesday, May 28th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, Okta has a consensus rating of "Hold" and a consensus target price of $118.61.

Insider Buying and Selling

In related news, CEO Todd Mckinnon sold 31,592 shares of the business's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $95.30, for a total transaction of $3,010,717.60. Following the transaction, the chief executive officer directly owned 20,682 shares in the company, valued at approximately $1,970,994.60. The trade was a 60.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Robert Kelleher sold 16,018 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the transaction, the insider owned 7,044 shares in the company, valued at approximately $646,709.64. The trade was a 69.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,594 shares of company stock valued at $8,382,790 over the last ninety days. Insiders own 5.68% of the company's stock.

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.