5,096 Shares in Okta, Inc. (NASDAQ:OKTA) Purchased by Jackson Creek Investment Advisors LLC

Jackson Creek Investment Advisors LLC acquired a new stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,096 shares of the company's stock, valued at approximately $536,000.

A number of other hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new position in Okta during the 4th quarter valued at approximately $234,992,000. Massachusetts Financial Services Co. MA boosted its position in Okta by 325.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock valued at $389,308,000 after purchasing an additional 2,830,582 shares during the period. Ameriprise Financial Inc. boosted its position in Okta by 2,135.7% during the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock valued at $150,845,000 after purchasing an additional 1,828,630 shares during the period. Ninety One UK Ltd bought a new stake in Okta during the 1st quarter valued at $189,915,000. Finally, Alyeska Investment Group L.P. raised its stake in Okta by 2,309.4% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company's stock valued at $139,693,000 after acquiring an additional 1,699,176 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OKTA. Needham & Company LLC boosted their target price on Okta from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Roth Capital reaffirmed a "buy" rating and set a $119.00 target price on shares of Okta in a research report on Wednesday, May 28th. JPMorgan Chase & Co. boosted their target price on Okta from $120.00 to $140.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Stifel Nicolaus boosted their target price on Okta from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Finally, Canaccord Genuity Group lifted their price target on Okta from $100.00 to $115.00 and gave the company a "hold" rating in a report on Wednesday, May 28th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $119.44.

Okta Price Performance

NASDAQ OKTA traded up $3.33 during trading hours on Friday, reaching $95.43. 4,358,661 shares of the company's stock were exchanged, compared to its average volume of 3,149,415. The stock has a market cap of $16.71 billion, a PE ratio of 151.48, a price-to-earnings-growth ratio of 4.62 and a beta of 0.82. Okta, Inc. has a one year low of $70.56 and a one year high of $127.57. The firm has a fifty day moving average of $105.12 and a 200-day moving average of $101.40. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.05.

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

Insiders Place Their Bets

In other Okta news, insider Eric Robert Kelleher sold 16,018 shares of the stock in a transaction dated 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 completion of the transaction, the insider owned 7,044 shares in the company, valued at approximately $646,709.64. This represents a 69.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Larissa Schwartz sold 2,244 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $100.00, for a total value of $224,400.00. Following the transaction, the insider owned 23,640 shares of the company's stock, valued at approximately $2,364,000. This trade represents a 8.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,002 shares of company stock worth $3,522,072. 5.68% of the stock is owned by corporate insiders.

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.