Trek Financial LLC Makes New $426,000 Investment in Okta, Inc. (NASDAQ:OKTA)

Trek Financial LLC purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,053 shares of the company's stock, valued at approximately $426,000.

Other hedge funds also recently modified their holdings of the company. Wolff Wiese Magana LLC grew its position in shares of Okta by 167.4% during the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock valued at $26,000 after acquiring an additional 154 shares during the period. Wayfinding Financial LLC purchased a new stake in shares of Okta during the 1st quarter valued at $27,000. Rossby Financial LCC purchased a new stake in shares of Okta during the 1st quarter valued at $31,000. TD Private Client Wealth LLC raised its position in shares of Okta by 3,507.7% during the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock valued at $37,000 after buying an additional 456 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in Okta in the 4th quarter worth $40,000. Institutional investors and hedge funds own 86.64% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Barclays dropped their price objective on shares of Okta from $135.00 to $120.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 28th. Arete Research raised shares of Okta to a "strong sell" rating and set a $83.00 target price for the company in a report on Monday. JMP Securities reiterated a "market perform" rating on shares of Okta in a research report on Wednesday, May 28th. Scotiabank upped their price target 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. Finally, Evercore ISI upped their price target on shares of Okta from $122.00 to $130.00 and gave the company an "outperform" rating in a report on Wednesday, May 28th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $119.44.

Okta Trading Down 1.4%

Shares of OKTA traded down $1.35 on Friday, reaching $93.06. 1,479,151 shares of the company's stock were exchanged, compared to its average volume of 3,100,332. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $16.29 billion, a P/E ratio of 147.75, a price-to-earnings-growth ratio of 4.80 and a beta of 0.82. The business has a 50 day moving average price of $108.13 and a two-hundred day moving average price of $100.80. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $127.57.

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

Insider Buying and Selling at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 581 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $100.29, for a total value of $58,268.49. Following the completion of the sale, the director owned 2,832 shares in the company, valued at $284,021.28. This trade represents a 17.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Larissa Schwartz sold 2,244 shares of the 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 owned 23,640 shares of the company's stock, valued at approximately $2,364,000. This represents a 8.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,930 shares of company stock valued at $391,511 in the last three months. 5.68% of the stock is owned by insiders.

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.