Okta, Inc. (NASDAQ:OKTA) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 220.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,917 shares of the company's stock after purchasing an additional 26,791 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Okta were worth $4,095,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 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 worth $37,000 after purchasing an additional 456 shares in the last quarter. CX Institutional acquired a new stake in Okta in the first quarter valued at approximately $52,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Okta during the fourth quarter valued at approximately $40,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Okta during the fourth quarter valued at approximately $43,000. Finally, True Wealth Design LLC lifted its position in shares of Okta by 237.4% during the fourth quarter. True Wealth Design LLC now owns 577 shares of the company's stock worth $45,000 after purchasing an additional 406 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Wall Street Analysts Forecast Growth

OKTA has been the subject of a number of recent analyst reports. Cantor Fitzgerald initiated coverage on shares of Okta in a report on Monday, March 31st. They set an "overweight" rating and a $130.00 price target for the company. Roth Capital reiterated a "buy" rating and set a $119.00 target price on shares of Okta in a research note on Wednesday, May 28th. Canaccord Genuity Group increased their target price on Okta from $100.00 to $115.00 and gave the company a "hold" rating in a research note on Wednesday, May 28th. Morgan Stanley reduced their target price on Okta from $125.00 to $123.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, DA Davidson reduced their target price on Okta from $145.00 to $140.00 and set a "buy" rating for the company in a research note 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 assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $121.59.

Insider Activity

In related news, Director Jacques Frederic Kerrest sold 581 shares of Okta stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $100.29, for a total transaction of $58,268.49. Following the transaction, the director now directly owns 2,832 shares of the company's stock, valued at $284,021.28. The trade was a 17.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jonathan James Addison sold 7,005 shares of Okta stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $101.19, for a total value of $708,835.95. Following the transaction, the executive now directly owns 19,067 shares in the company, valued at approximately $1,929,389.73. The trade was a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,935 shares of company stock valued at $1,100,347. Company insiders own 5.68% of the company's stock.

Okta Price Performance

Shares of NASDAQ OKTA opened at $98.13 on Friday. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $127.57. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.47 and a quick ratio of 1.47. The business's fifty day moving average price is $109.09 and its two-hundred day moving average price is $99.78. The firm has a market capitalization of $17.18 billion, a PE ratio of 155.76, a P/E/G ratio of 4.75 and a beta of 0.84.

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, beating analysts' consensus estimates of $0.77 by $0.09. The company 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 company'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 earnings per share. On average, research analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

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.

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