Stanley Laman Group Ltd. Has $10 Million Stock Position in Okta, Inc. (NASDAQ:OKTA)

Stanley Laman Group Ltd. increased its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 63.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 95,004 shares of the company's stock after acquiring an additional 36,909 shares during the period. Okta comprises approximately 1.5% of Stanley Laman Group Ltd.'s investment portfolio, making the stock its 2nd largest holding. Stanley Laman Group Ltd. owned 0.05% of Okta worth $9,996,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. GPS Wealth Strategies Group LLC increased its stake in Okta by 7.2% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 1,484 shares of the company's stock worth $156,000 after acquiring an additional 100 shares during the period. Frank Rimerman Advisors LLC increased its stake in Okta by 2.4% during the 4th quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company's stock worth $352,000 after acquiring an additional 105 shares during the period. The Manufacturers Life Insurance Company increased its stake in Okta by 1.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company's stock worth $620,000 after acquiring an additional 136 shares during the period. Stephens Inc. AR increased its stake in Okta by 5.0% during the 4th quarter. Stephens Inc. AR now owns 3,296 shares of the company's stock worth $260,000 after acquiring an additional 157 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its stake in Okta by 3.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,646 shares of the company's stock worth $445,000 after acquiring an additional 171 shares during the period. Institutional investors own 86.64% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on OKTA shares. Guggenheim decreased their price target on Okta from $140.00 to $138.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Susquehanna lifted their price target on Okta from $95.00 to $105.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Stephens reiterated an "equal weight" rating and issued a $127.00 price target on shares of Okta in a research note on Tuesday, May 27th. Roth Capital reiterated a "buy" rating and issued a $119.00 price target on shares of Okta in a research note on Wednesday, May 28th. Finally, Barclays cut their price objective on Okta from $135.00 to $120.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 28th. One investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $121.59.

Okta Trading Down 2.7%

Shares of NASDAQ:OKTA traded down $2.70 during midday trading on Friday, reaching $97.48. The company's stock had a trading volume of 2,236,031 shares, compared to its average volume of 3,016,183. The firm has a market capitalization of $17.07 billion, a price-to-earnings ratio of -278.51, a PEG ratio of 6.42 and a beta of 0.84. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a 50 day moving average price of $109.13 and a two-hundred day moving average price of $98.55. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $127.57.

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

Insider Activity at Okta

In other Okta news, insider Larissa Schwartz sold 11,552 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the sale, the insider now directly owns 22,125 shares of the company's stock, valued at approximately $2,524,241.25. The trade was a 34.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric Robert Kelleher sold 5,895 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $113.75, for a total value of $670,556.25. Following the sale, the insider now directly owns 9,828 shares of the company's stock, valued at $1,117,935. This represents a 37.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,452 shares of company stock valued at $2,697,360 in the last three months. Corporate insiders own 5.68% of the company's stock.

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.