Okta, Inc. (NASDAQ:OKTA) Shares Acquired by Cwm LLC

CWM LLC grew its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 81.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,630 shares of the company's stock after buying an additional 12,809 shares during the quarter. CWM LLC's holdings in Okta were worth $3,012,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of OKTA. Wealth Enhancement Advisory Services LLC grew its stake in shares of Okta by 52.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company's stock worth $956,000 after purchasing an additional 4,171 shares during the period. Trek Financial LLC acquired a new position in shares of Okta during the 1st quarter worth $426,000. Merit Financial Group LLC acquired a new position in shares of Okta during the 1st quarter worth $823,000. Stephens Investment Management Group LLC grew its stake in shares of Okta by 10.4% during the 1st quarter. Stephens Investment Management Group LLC now owns 499,125 shares of the company's stock worth $52,518,000 after purchasing an additional 46,818 shares during the period. Finally, Greenwood Capital Associates LLC grew its stake in shares of Okta by 165.7% during the 1st quarter. Greenwood Capital Associates LLC now owns 7,048 shares of the company's stock worth $742,000 after purchasing an additional 4,395 shares during the period. Hedge funds and other institutional investors own 86.64% of the company's stock.

Insider Activity

In other Okta news, insider Eric Robert Kelleher sold 16,018 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $91.81, for a total value of $1,470,612.58. Following the completion of the sale, the insider owned 7,044 shares of the company's stock, valued at $646,709.64. This trade represents a 69.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Jonathan James Addison sold 3,000 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $91.81, for a total transaction of $275,430.00. Following the completion of the sale, the executive directly owned 16,067 shares of the company's stock, valued at $1,475,111.27. This trade represents a 15.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,002 shares of company stock worth $3,522,072 over the last three months. Insiders own 5.68% of the company's stock.

Okta Trading Up 3.6%

NASDAQ OKTA traded up $3.33 during mid-day trading on Friday, hitting $95.43. The company's stock had a trading volume of 4,358,661 shares, compared to its average volume of 3,142,466. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $127.57. The stock's fifty day simple moving average is $105.60 and its two-hundred day simple moving average is $101.13. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market capitalization of $16.71 billion, a P/E ratio of 151.48, a price-to-earnings-growth ratio of 4.41 and a beta of 0.82.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings results on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, beating the consensus estimate 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 last year, the firm posted $0.65 earnings per share. Okta's revenue for the quarter was up 11.5% compared to the same quarter last year. Research analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OKTA. BTIG Research reaffirmed a "buy" rating on shares of Okta in a research note on Thursday, May 22nd. Arete began coverage on shares of Okta in a research note on Monday, July 7th. They issued a "sell" rating and a $83.00 price objective on the stock. Morgan Stanley lowered their price objective on shares of Okta from $125.00 to $123.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Stifel Nicolaus increased their price objective on shares of Okta from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Okta from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty have assigned a buy rating to the company's stock. According to data from MarketBeat, Okta presently has a consensus rating of "Hold" and an average price target of $119.44.

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.