Evanson Asset Management LLC Buys 2,962 Shares of Okta, Inc. (NASDAQ:OKTA)

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

A number of other large investors have also recently made changes to their positions in OKTA. Norges Bank bought a new position in shares of Okta in the fourth quarter valued at $234,992,000. Ameriprise Financial Inc. lifted its position in shares of Okta by 2,135.7% during the fourth 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 in the last quarter. Alyeska Investment Group L.P. lifted its position in shares of Okta by 2,309.4% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company's stock valued at $139,693,000 after purchasing an additional 1,699,176 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Okta by 236.8% during the fourth quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock valued at $176,271,000 after purchasing an additional 1,572,786 shares in the last quarter. Finally, Sachem Head Capital Management LP bought a new position in shares of Okta during the fourth quarter valued at about $105,592,000. 86.64% of the stock is owned by institutional investors.

Okta Trading Down 0.8%

Shares of OKTA stock traded down $0.76 on Monday, hitting $98.66. 3,523,754 shares of the company's stock traded hands, compared to its average volume of 3,045,950. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.47 and a current ratio of 1.47. Okta, Inc. has a one year low of $70.56 and a one year high of $127.57. The company's fifty day simple moving average is $109.15 and its 200 day simple moving average is $99.70. The stock has a market capitalization of $17.27 billion, a price-to-earnings ratio of 156.61, a P/E/G ratio of 4.81 and a beta of 0.84.

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

Insider Activity at Okta

In related news, CRO Jonathan James Addison sold 7,005 shares of the company's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $101.19, for a total transaction of $708,835.95. Following the completion of the sale, the executive now directly owns 19,067 shares in the company, valued at $1,929,389.73. This represents a 26.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Larissa Schwartz sold 1,105 shares of the company's 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 completion of the transaction, the insider now owns 25,884 shares of the company's stock, valued at $2,549,574. This trade represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,354 shares of company stock valued at $1,042,078. Insiders own 5.68% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on OKTA. Westpark Capital reaffirmed a "buy" rating and issued a $140.00 price objective on shares of Okta in a research report on Wednesday, May 28th. The Goldman Sachs Group lifted their price objective on shares of Okta from $123.00 to $137.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $135.00 price objective (up previously from $110.00) on shares of Okta in a research report on Friday, May 23rd. DA Davidson lowered their price objective on shares of Okta from $145.00 to $140.00 and set a "buy" rating on the stock 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 stock an "overweight" rating in a research report on Tuesday, March 4th. One investment analyst has 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.com, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.