Okta, Inc. (NASDAQ:OKTA) Shares Acquired by Evanson Asset Management LLC

Evanson Asset Management LLC boosted its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 90.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,244 shares of the company's stock after purchasing an additional 2,962 shares during the quarter. Evanson Asset Management LLC's holdings in Okta were worth $657,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. 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 lifted its position in Okta by 3,507.7% in the fourth 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 last quarter. CX Institutional purchased a new stake in Okta in the first quarter valued at $52,000. University of Texas Texas AM Investment Management Co. acquired a new position in Okta in the fourth quarter valued at $40,000. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of Okta during the fourth quarter worth about $43,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CRO Jonathan James Addison sold 7,005 shares of the business'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 transaction, the executive now owns 19,067 shares of the company's stock, valued at $1,929,389.73. The trade was a 26.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 5.68% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on OKTA shares. Royal Bank Of Canada cut their target price on Okta from $143.00 to $135.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 28th. KeyCorp boosted their price objective on Okta from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. Loop Capital began coverage on Okta in a report on Monday, May 5th. They issued a "buy" rating and a $140.00 price objective for the company. The Goldman Sachs Group lifted their target price on shares of Okta from $123.00 to $137.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Finally, BMO Capital Markets set a $132.00 price target on shares of Okta and gave the company a "market perform" rating in a research report on Wednesday, May 28th. One equities research 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's stock. According to data from MarketBeat.com, Okta presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.59.

Okta Price Performance

Okta stock opened at $99.00 on Friday. The firm has a market capitalization of $17.33 billion, a PE ratio of 157.15, a P/E/G ratio of 4.79 and a beta of 0.84. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57. The firm's 50-day simple moving average is $109.24 and its 200 day simple moving average is $99.27. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.05.

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

Okta 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.

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