K.J. Harrison & Partners Inc Takes $579,000 Position in Okta, Inc. (NASDAQ:OKTA)

K.J. Harrison & Partners Inc purchased a new position in Okta, Inc. (NASDAQ:OKTA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,500 shares of the company's stock, valued at approximately $579,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in Okta by 30.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,050 shares of the company's stock worth $761,000 after buying an additional 1,648 shares during the period. Total Wealth Planning & Management Inc. purchased a new position in Okta in the 1st quarter worth about $221,000. Sequoia Financial Advisors LLC purchased a new position in Okta in the 1st quarter worth about $265,000. Golden State Wealth Management LLC increased its stake in Okta by 118.3% in the 1st quarter. Golden State Wealth Management LLC now owns 657 shares of the company's stock worth $69,000 after buying an additional 356 shares during the period. Finally, Lecap Asset Management Ltd. increased its stake in Okta by 11.4% in the 1st quarter. Lecap Asset Management Ltd. now owns 25,920 shares of the company's stock worth $2,727,000 after buying an additional 2,652 shares during the period. Hedge funds and other institutional investors own 86.64% of the company's stock.

Insider Buying and Selling

In other Okta news, Director Jacques Frederic Kerrest sold 581 shares of Okta stock in a transaction on Friday, June 20th. The shares were sold at an average price of $100.29, for a total transaction of $58,268.49. Following the sale, the director now owns 2,832 shares of the company's stock, valued at $284,021.28. The trade was a 17.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Larissa Schwartz sold 1,105 shares of Okta stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $98.50, for a total transaction of $108,842.50. Following the sale, the insider now directly owns 25,884 shares in the company, valued at approximately $2,549,574. This trade represents a 4.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,935 shares of company stock valued at $1,100,347. 5.68% of the stock is owned by corporate insiders.

Okta Price Performance

NASDAQ OKTA traded up $0.30 on Friday, hitting $98.43. The company had a trading volume of 3,468,742 shares, compared to its average volume of 3,070,410. The company has a market capitalization of $17.23 billion, a PE ratio of 156.24, a PEG ratio of 4.76 and a beta of 0.84. The company's fifty day moving average price is $109.10 and its 200-day moving average price is $99.99. 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.

Okta (NASDAQ:OKTA - Get Free Report) last issued 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. The company had revenue of $688.00 million during the quarter, compared to analyst estimates of $680.14 million. Okta had a net margin of 4.85% and a return on equity of 2.79%. The firm's revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 EPS. As a group, analysts predict that Okta, Inc. will post 0.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. BTIG Research reiterated a "buy" rating on shares of Okta in a report on Thursday, May 22nd. Stephens reiterated an "equal weight" rating and set a $127.00 target price on shares of Okta in a report on Tuesday, May 27th. Guggenheim dropped their target price on shares of Okta from $140.00 to $138.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. BMO Capital Markets set a $132.00 target price on shares of Okta and gave the stock a "market perform" rating in a report on Wednesday, May 28th. Finally, Morgan Stanley dropped their target price on shares of Okta from $125.00 to $123.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.59.

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.