Forum Financial Management LP Makes New $333,000 Investment in Okta, Inc. (NASDAQ:OKTA)

Forum Financial Management LP acquired a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 4,231 shares of the company's stock, valued at approximately $333,000.

Other institutional investors have also recently made changes to their positions in the company. Bank of Jackson Hole Trust bought a new position in shares of Okta during the fourth quarter valued at about $25,000. TD Private Client Wealth LLC increased its position in Okta by 3,507.7% during the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock valued at $37,000 after buying an additional 456 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Okta in the 4th quarter worth about $40,000. Brown Brothers Harriman & Co. bought a new position in shares of Okta in the fourth quarter worth approximately $43,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Okta in the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 86.64% of the company's stock.

Insider Transactions at Okta

In other news, CRO Jonathan James Addison sold 7,005 shares of the company's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $101.19, for a total value of $708,835.95. Following the completion of the sale, the executive now owns 19,067 shares of the company's stock, valued at approximately $1,929,389.73. This represents a 26.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Larissa Schwartz sold 11,552 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the transaction, the insider now directly owns 22,125 shares of the company's stock, valued at approximately $2,524,241.25. The trade was a 34.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,452 shares of company stock valued at $16,347,360. 5.68% of the stock is currently owned by company insiders.

Okta Trading Down 3.6%

OKTA stock traded down $3.83 during midday trading on Friday, reaching $102.80. The company's stock had a trading volume of 7,711,011 shares, compared to its average volume of 2,942,376. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $127.57. The firm has a market capitalization of $17.85 billion, a price-to-earnings ratio of -293.71, a PEG ratio of 6.42 and a beta of 0.96. The stock has a fifty day simple moving average of $109.26 and a two-hundred day simple moving average of $96.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

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, topping the consensus estimate of $0.77 by $0.09. Okta had a negative net margin of 1.54% and a positive return on equity of 0.47%. The company had revenue of $688.00 million for the quarter, compared to the consensus estimate of $680.14 million. During the same quarter last year, the firm posted $0.65 EPS. The firm's revenue was up 11.5% compared to the same quarter last year. On average, equities research analysts predict that Okta, Inc. will post 0.42 EPS for the current year.

Analyst Upgrades and Downgrades

OKTA has been the topic of a number of recent analyst reports. UBS Group dropped their price target on shares of Okta from $150.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday. Scotiabank raised their price objective on Okta from $109.00 to $115.00 and gave the stock a "sector perform" rating in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Okta from $120.00 to $140.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Stifel Nicolaus raised their price target on Okta from $120.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday. Finally, BTIG Research reissued a "buy" rating on shares of Okta in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $121.59.

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.