ORG Wealth Partners LLC Purchases New Position in Okta, Inc. (NASDAQ:OKTA)

ORG Wealth Partners LLC bought a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,727 shares of the company's stock, valued at approximately $1,332,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP raised its stake in Okta by 35.5% in the 4th quarter. Marshall Wace LLP now owns 3,583,937 shares of the company's stock valued at $282,414,000 after purchasing an additional 938,509 shares during the last quarter. Norges Bank acquired a new position in Okta in the 4th quarter valued at about $234,992,000. Geode Capital Management LLC raised its stake in Okta by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company's stock valued at $212,385,000 after purchasing an additional 135,110 shares during the last quarter. Point72 Asset Management L.P. increased its stake in shares of Okta by 236.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock valued at $176,271,000 after acquiring an additional 1,572,786 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Okta by 2,135.7% during the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock valued at $150,845,000 after acquiring an additional 1,828,630 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Stock Performance

OKTA stock traded up $0.42 during mid-day trading on Friday, reaching $99.42. The company had a trading volume of 5,150,031 shares, compared to its average volume of 3,043,996. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $17.41 billion, a P/E ratio of 157.81, a P/E/G ratio of 4.81 and a beta of 0.84. Okta, Inc. has a one year low of $70.56 and a one year high of $127.57. The stock's 50-day simple moving average is $109.19 and its two-hundred day simple moving average is $99.49.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. Okta had a net margin of 4.85% and a return on equity of 2.79%. The business had revenue of $688.00 million for the quarter, compared to analysts' expectations of $680.14 million. During the same period in the previous year, the business earned $0.65 earnings per share. The company's revenue was up 11.5% on a year-over-year basis. Research analysts anticipate that Okta, Inc. will post 0.42 EPS for the current year.

Insiders Place Their Bets

In other Okta news, 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 1,105 shares of Okta stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $98.50, for a total value of $108,842.50. Following the completion of the transaction, the insider now directly owns 25,884 shares in the company, valued at $2,549,574. This represents a 4.09% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,354 shares of company stock worth $1,042,078. 5.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

OKTA has been the subject of a number of research analyst reports. Scotiabank upped their price objective on shares of Okta from $109.00 to $115.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 28th. Stifel Nicolaus increased their target price on shares of Okta from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. UBS Group lowered their price objective on shares of Okta from $150.00 to $130.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Oppenheimer increased their price objective on shares of Okta from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Finally, Westpark Capital reissued a "buy" rating and set a $140.00 price target on shares of Okta in a research 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 given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $121.59.

About Okta

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.