Trek Financial LLC Takes $426,000 Position in Okta, Inc. (NASDAQ:OKTA)

Trek Financial LLC purchased 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 (SEC). The institutional investor purchased 4,053 shares of the company's stock, valued at approximately $426,000.

Several other institutional investors have also recently made changes to their positions in the company. Valeo Financial Advisors LLC bought a new position in shares of Okta in the first quarter worth $221,000. Brown Advisory Inc. increased its stake in Okta by 2.2% in the first quarter. Brown Advisory Inc. now owns 40,186 shares of the company's stock valued at $4,228,000 after acquiring an additional 854 shares during the last quarter. Ninety One SA PTY Ltd bought a new position in Okta in the first quarter valued at $3,275,000. Ninety One UK Ltd bought a new position in Okta in the first quarter valued at $189,915,000. Finally, Raleigh Capital Management Inc. increased its stake in Okta by 4,516.0% in the first quarter. Raleigh Capital Management Inc. now owns 1,154 shares of the company's stock valued at $121,000 after acquiring an additional 1,129 shares during the last quarter. Institutional investors own 86.64% of the company's stock.

Insider Buying and Selling at Okta

In other Okta news, insider Larissa Schwartz sold 2,244 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $100.00, for a total transaction of $224,400.00. Following the completion of the sale, the insider directly owned 23,640 shares in the company, valued at approximately $2,364,000. The trade was a 8.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jonathan James Addison sold 7,005 shares of the business's stock in a transaction 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 owned 19,067 shares of the company's stock, valued at approximately $1,929,389.73. This represents a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,935 shares of company stock worth $1,100,347. Insiders own 5.68% of the company's stock.

Okta Stock Down 4.8%

NASDAQ OKTA traded down $4.74 during mid-day trading on Thursday, reaching $94.41. The stock had a trading volume of 4,132,933 shares, compared to its average volume of 3,099,977. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $127.57. The stock has a market cap of $16.53 billion, a PE ratio of 149.86, a price-to-earnings-growth ratio of 4.72 and a beta of 0.82. The company has a fifty day moving average price of $108.48 and a 200 day moving average price of $100.73. 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 (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 earnings per share 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 company 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 business earned $0.65 EPS. The firm's revenue for the quarter was up 11.5% on a year-over-year basis. On average, research analysts expect that Okta, Inc. will post 0.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OKTA. JPMorgan Chase & Co. increased their target price on Okta from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Morgan Stanley reduced their price objective on Okta from $125.00 to $123.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Westpark Capital reaffirmed a "buy" rating and set a $140.00 price objective on shares of Okta in a research note on Wednesday, May 28th. Jefferies Financial Group reaffirmed a "hold" rating and set a $135.00 price objective (up from $110.00) on shares of Okta in a research note on Friday, May 23rd. Finally, BTIG Research reaffirmed a "buy" rating on shares of Okta in a research note on Thursday, May 22nd. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $119.44.

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.