Okta, Inc. (NASDAQ:OKTA) Holdings Lowered by Left Brain Wealth Management LLC

Left Brain Wealth Management LLC trimmed its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 15.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,683 shares of the company's stock after selling 6,027 shares during the quarter. Okta makes up 1.5% of Left Brain Wealth Management LLC's holdings, making the stock its 27th biggest holding. Left Brain Wealth Management LLC's holdings in Okta were worth $3,439,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in OKTA. CWM LLC lifted its stake in Okta by 81.0% in the first quarter. CWM LLC now owns 28,630 shares of the company's stock valued at $3,012,000 after buying an additional 12,809 shares during the period. Stephens Investment Management Group LLC grew its stake in Okta by 10.4% in the 1st quarter. Stephens Investment Management Group LLC now owns 499,125 shares of the company's stock valued at $52,518,000 after purchasing an additional 46,818 shares during the period. Stephens Inc. AR lifted its position in shares of Okta by 3.7% during the 1st quarter. Stephens Inc. AR now owns 3,417 shares of the company's stock valued at $360,000 after buying an additional 121 shares during the last quarter. Arizona State Retirement System lifted its holdings in Okta by 0.5% during the 1st quarter. Arizona State Retirement System now owns 47,389 shares of the company's stock worth $4,986,000 after purchasing an additional 234 shares in the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co bought a new position in Okta in the 1st quarter worth about $203,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Trading Up 0.4%

Shares of OKTA traded up $0.41 during mid-day trading on Monday, reaching $91.97. The company had a trading volume of 3,084,096 shares, compared to its average volume of 3,120,402. The stock has a market cap of $16.10 billion, a price-to-earnings ratio of 145.99, a price-to-earnings-growth ratio of 4.43 and a beta of 0.82. The firm has a fifty day simple moving average of $107.71 and a 200-day simple moving average of $101.11. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $127.57. 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 released its quarterly earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $688.00 million for the quarter, compared to the consensus estimate of $680.14 million. During the same quarter in the previous year, the firm posted $0.65 EPS. The firm's quarterly revenue was up 11.5% on a year-over-year basis. On average, sell-side analysts anticipate that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Cantor Fitzgerald initiated coverage on Okta in a research report on Monday, March 31st. They set an "overweight" rating and a $130.00 price target on the stock. Mizuho cut their price objective on Okta from $135.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday, May 28th. BMO Capital Markets set a $132.00 price objective on Okta and gave the company a "market perform" rating in a research report on Wednesday, May 28th. JPMorgan Chase & Co. upped their price objective on Okta from $120.00 to $140.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Finally, Needham & Company LLC increased their price objective on Okta from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $119.44.

Insider Buying and Selling at Okta

In other news, Director Jacques Frederic Kerrest sold 581 shares of Okta stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $100.29, for a total value of $58,268.49. Following the completion of the transaction, the director directly owned 2,832 shares of the company's stock, valued at approximately $284,021.28. The trade was a 17.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 2,244 shares of Okta stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $100.00, for a total transaction of $224,400.00. Following the completion of the transaction, the insider directly owned 23,640 shares of the company's stock, valued at $2,364,000. This trade represents a 8.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,930 shares of company stock valued at $391,511. 5.68% of the stock is owned by company insiders.

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.