Okta, Inc. (NASDAQ:OKTA) Shares Acquired by Smith Group Asset Management LLC

Smith Group Asset Management LLC grew its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 237,995 shares of the company's stock after acquiring an additional 16,594 shares during the period. Okta comprises 1.9% of Smith Group Asset Management LLC's portfolio, making the stock its 25th largest position. Smith Group Asset Management LLC owned 0.14% of Okta worth $25,042,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of OKTA. Proficio Capital Partners LLC purchased a new position in Okta during the 4th quarter valued at $4,923,000. Metis Global Partners LLC boosted its stake in shares of Okta by 6.4% during the 4th quarter. Metis Global Partners LLC now owns 3,386 shares of the company's stock valued at $267,000 after purchasing an additional 205 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Okta by 40.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 732 shares of the company's stock valued at $58,000 after buying an additional 210 shares during the period. Norden Group LLC bought a new position in Okta in the fourth quarter worth about $245,000. Finally, Jones Financial Companies Lllp lifted its holdings in Okta by 114.3% in the fourth quarter. Jones Financial Companies Lllp now owns 1,847 shares of the company's stock worth $146,000 after buying an additional 985 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OKTA. Royal Bank Of Canada reduced their target price on Okta from $143.00 to $135.00 and set an "outperform" rating on the stock in a report on Wednesday, May 28th. Westpark Capital reiterated a "buy" rating and issued a $140.00 price objective on shares of Okta in a report on Wednesday, May 28th. Loop Capital initiated coverage on Okta in a research report on Monday, May 5th. They set a "buy" rating and a $140.00 price objective for the company. JMP Securities reaffirmed a "market perform" rating on shares of Okta in a research report on Wednesday, May 28th. Finally, Truist Financial lifted their price target on shares of Okta from $92.00 to $100.00 and gave the company a "hold" rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.59.

Okta Price Performance

NASDAQ OKTA traded down $1.42 during trading hours on Tuesday, hitting $98.55. 3,002,950 shares of the company's stock traded hands, compared to its average volume of 3,069,306. The company has a market capitalization of $17.25 billion, a PE ratio of 156.43, a PEG ratio of 4.76 and a beta of 0.84. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.47 and a quick ratio of 1.47. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $127.57. The firm's 50-day moving average is $109.25 and its 200-day moving average is $100.23.

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

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 2,244 shares of the company'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 value of $224,400.00. Following the transaction, the insider directly owned 23,640 shares in the company, valued at approximately $2,364,000. This represents a 8.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Jonathan James Addison sold 7,005 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $101.19, for a total value of $708,835.95. Following the completion of the transaction, the executive owned 19,067 shares of the company's stock, valued at $1,929,389.73. The trade was a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,935 shares of company stock worth $1,100,347 in the last quarter. Company insiders own 5.68% of the company's stock.

Okta 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.