Okta, Inc. (NASDAQ:OKTA) Shares Acquired by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC lifted its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 165.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,048 shares of the company's stock after purchasing an additional 4,395 shares during the quarter. Greenwood Capital Associates LLC's holdings in Okta were worth $742,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GPS Wealth Strategies Group LLC boosted its holdings in Okta by 7.2% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 1,484 shares of the company's stock valued at $156,000 after acquiring an additional 100 shares during the period. Simon Quick Advisors LLC purchased a new position in shares of Okta in the 1st quarter valued at approximately $524,000. Thompson Investment Management Inc. lifted its stake in shares of Okta by 7,743.9% in the 1st quarter. Thompson Investment Management Inc. now owns 6,432 shares of the company's stock valued at $677,000 after purchasing an additional 6,350 shares during the period. CX Institutional purchased a new position in shares of Okta in the 1st quarter valued at approximately $52,000. Finally, Assenagon Asset Management S.A. increased its position in Okta by 110.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 125,948 shares of the company's stock valued at $13,252,000 after buying an additional 65,997 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on OKTA shares. Cantor Fitzgerald began coverage on Okta in a research report on Monday, March 31st. They set an "overweight" rating and a $130.00 price objective for the company. DA Davidson dropped their price target on Okta from $145.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Stifel Nicolaus lifted their target price on Okta from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Jefferies Financial Group reissued a "hold" rating and set a $135.00 price target (up from $110.00) on shares of Okta in a report on Friday, May 23rd. Finally, The Goldman Sachs Group lifted their target price on Okta from $123.00 to $137.00 and gave the stock a "buy" rating in a 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.59.

Insider Buying and Selling at Okta

In other news, insider Larissa Schwartz sold 11,552 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the transaction, the insider now owns 22,125 shares of the company's stock, valued at $2,524,241.25. The trade was a 34.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Jonathan James Addison sold 7,005 shares of the business's stock in a transaction dated 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 directly owns 19,067 shares of the company's stock, valued at approximately $1,929,389.73. This trade represents a 26.87% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.68% of the company's stock.

Okta Trading Up 1.8%

Shares of NASDAQ OKTA traded up $1.80 during trading hours on Monday, reaching $99.28. The stock had a trading volume of 2,895,870 shares, compared to its average volume of 3,021,774. The firm has a market cap of $17.38 billion, a price-to-earnings ratio of -283.66, a P/E/G ratio of 6.42 and a beta of 0.84. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $127.57. The business's fifty day moving average price is $109.41 and its two-hundred day moving average price is $99.15.

Okta (NASDAQ:OKTA - Get Free Report) last announced its earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. Okta had a positive return on equity of 0.47% and a negative net margin of 1.54%. The firm had revenue of $688.00 million for the quarter, compared to the consensus estimate of $680.14 million. During the same period in the previous year, the business earned $0.65 EPS. The firm's revenue for the quarter was up 11.5% on a year-over-year basis. Analysts expect that Okta, Inc. will post 0.42 EPS for the current fiscal 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.