ORG Partners LLC Has $74,000 Holdings in Okta, Inc. (NASDAQ:OKTA)

ORG Partners LLC reduced its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 92.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 711 shares of the company's stock after selling 9,189 shares during the quarter. ORG Partners LLC's holdings in Okta were worth $74,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of OKTA. GPS Wealth Strategies Group LLC raised its stake in shares of Okta by 7.2% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 1,484 shares of the company's stock valued at $156,000 after buying an additional 100 shares in the last quarter. Frank Rimerman Advisors LLC raised its stake in shares of Okta by 2.4% in the 4th quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company's stock valued at $352,000 after buying an additional 105 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Okta by 1.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company's stock valued at $620,000 after buying an additional 136 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Okta by 3.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,646 shares of the company's stock valued at $445,000 after buying an additional 171 shares in the last quarter. Finally, Great Lakes Advisors LLC raised its stake in shares of Okta by 2.7% in the 4th quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company's stock valued at $557,000 after buying an additional 184 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. UBS Group dropped their price objective on shares of Okta from $150.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. Stifel Nicolaus increased their price objective on shares of Okta from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Barclays lowered their target price on shares of Okta from $135.00 to $120.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 28th. Scotiabank upped their target price on shares of Okta from $109.00 to $115.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 28th. Finally, KeyCorp upped their target price on shares of Okta from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $121.59.

Okta Stock Up 0.4%

Shares of NASDAQ OKTA opened at $99.42 on Monday. The firm has a market capitalization of $17.41 billion, a PE ratio of 157.81, a price-to-earnings-growth ratio of 4.81 and a beta of 0.84. 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, Inc. has a 1 year low of $70.56 and a 1 year high of $127.57. The firm's 50-day moving average is $109.19 and its 200-day moving average is $99.60.

Okta (NASDAQ:OKTA - Get Free Report) last issued its earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 4.85% and a return on equity of 2.79%. The company's revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS. Equities analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

Insider Activity at Okta

In other Okta news, CRO Jonathan James Addison sold 7,005 shares of the firm'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 transaction of $708,835.95. Following the sale, the executive now directly owns 19,067 shares in the company, valued at approximately $1,929,389.73. This trade represents a 26.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Larissa Schwartz sold 2,244 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $100.00, for a total transaction of $224,400.00. Following the sale, the insider now owns 23,640 shares in the company, 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. Insiders have sold 10,354 shares of company stock worth $1,042,078 in the last ninety days. Company insiders own 5.68% of the company's stock.

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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