Fort Washington Investment Advisors Inc. OH Has $1.47 Million Holdings in Okta, Inc. (NASDAQ:OKTA)

Fort Washington Investment Advisors Inc. OH lowered its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 26.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,954 shares of the company's stock after selling 4,950 shares during the quarter. Fort Washington Investment Advisors Inc. OH's holdings in Okta were worth $1,468,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OKTA. Bank of Jackson Hole Trust acquired a new position in shares of Okta in the 4th quarter valued at $25,000. TD Private Client Wealth LLC increased its holdings in shares of Okta by 3,507.7% in the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock valued at $37,000 after acquiring an additional 456 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Okta in the 4th quarter valued at $40,000. Brown Brothers Harriman & Co. acquired a new position in shares of Okta in the 4th quarter valued at $43,000. Finally, True Wealth Design LLC increased its holdings in shares of Okta by 237.4% in the 4th quarter. True Wealth Design LLC now owns 577 shares of the company's stock valued at $45,000 after acquiring an additional 406 shares during the period. Institutional investors and hedge funds own 86.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OKTA. Citigroup lifted their target price on shares of Okta from $100.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. Oppenheimer lifted their price objective on shares of Okta from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Royal Bank of Canada lowered their price objective on shares of Okta from $143.00 to $135.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 28th. Needham & Company LLC lifted their price objective on shares of Okta from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Finally, KeyCorp lifted their price objective on shares of Okta from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $121.59.

Insider Transactions at Okta

In related news, insider Eric Robert Kelleher sold 5,895 shares of the stock in a transaction 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 owns 9,828 shares in the company, valued at approximately $1,117,935. This represents a 37.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 11,552 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the sale, the insider now owns 22,125 shares in the company, valued at approximately $2,524,241.25. This trade represents a 34.30% 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 worth $2,697,360 in the last 90 days. Corporate insiders own 5.68% of the company's stock.

Okta Stock Down 2.7%

Shares of OKTA traded down $2.70 on Friday, hitting $97.48. The company's stock had a trading volume of 2,236,031 shares, compared to its average volume of 3,016,183. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm's fifty day moving average price is $109.25 and its 200-day moving average price is $98.69. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $127.57. The firm has a market capitalization of $17.07 billion, a price-to-earnings ratio of -278.51, a P/E/G ratio of 6.42 and a beta of 0.84.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $680.14 million. During the same quarter in the prior year, the firm posted $0.65 EPS. The business's revenue was up 11.5% on a year-over-year basis. On average, equities research analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

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.