Private Wealth Partners LLC Purchases New Stake in Okta, Inc. (NASDAQ:OKTA)

Private Wealth Partners LLC bought a new position in Okta, Inc. (NASDAQ:OKTA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,450 shares of the company's stock, valued at approximately $363,000.

Other large investors have also made changes to their positions in the company. Bank of Jackson Hole Trust bought a new stake in Okta during the 4th quarter worth about $25,000. TD Private Client Wealth LLC grew its holdings 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 acquiring an additional 456 shares during the last quarter. CX Institutional bought a new stake in Okta during the 1st quarter worth about $52,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Okta in the 4th quarter valued at about $40,000. Finally, Brown Brothers Harriman & Co. bought a new position in shares of Okta in the 4th quarter valued at about $43,000. Institutional investors own 86.64% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on OKTA shares. Canaccord Genuity Group raised their target price on shares of Okta from $100.00 to $115.00 and gave the company a "hold" rating in a research note on Wednesday, May 28th. The Goldman Sachs Group raised their target price on shares of Okta from $123.00 to $137.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. DA Davidson reduced their target price on shares of Okta from $145.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. JMP Securities reaffirmed a "market perform" rating on shares of Okta in a research note on Wednesday, May 28th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $135.00 target price (up previously from $110.00) on shares of Okta in a research note on Friday, May 23rd. 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 company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $121.59.

Insiders Place Their Bets

In other news, CRO Jonathan James Addison sold 7,005 shares of Okta stock in a transaction on Friday, April 11th. The stock was sold at an average price of $101.19, for a total transaction of $708,835.95. Following the completion of the sale, the executive now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 1,105 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were 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 of the company's stock, valued at approximately $2,549,574. This trade represents a 4.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,354 shares of company stock valued at $1,042,078 over the last ninety days. 5.68% of the stock is currently owned by company insiders.

Okta Stock Performance

OKTA stock traded down $0.76 during midday trading on Monday, reaching $98.66. 3,523,754 shares of the company were exchanged, compared to its average volume of 3,045,950. 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 has a 50-day moving average price of $109.15 and a two-hundred day moving average price of $99.70. Okta, Inc. has a one year low of $70.56 and a one year high of $127.57. The firm has a market capitalization of $17.27 billion, a price-to-earnings ratio of 156.61, a price-to-earnings-growth ratio of 4.81 and a beta of 0.84.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, topping 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 firm had revenue of $688.00 million during the quarter, compared to analysts' expectations of $680.14 million. During the same period in the previous year, the business posted $0.65 earnings per share. The company's revenue for the quarter was up 11.5% compared to the same quarter last year. Equities research analysts forecast that Okta, Inc. will post 0.42 EPS for the current year.

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.