Wealth Enhancement Advisory Services LLC Buys 4,171 Shares of Okta, Inc. (NASDAQ:OKTA)

Wealth Enhancement Advisory Services LLC increased its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 52.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,126 shares of the company's stock after purchasing an additional 4,171 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Okta were worth $956,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Bank of Jackson Hole Trust acquired a new stake in Okta during the 4th quarter worth about $25,000. TD Private Client Wealth LLC increased its holdings in shares of Okta by 3,507.7% in the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock valued at $37,000 after purchasing an additional 456 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Okta in the 4th quarter valued at about $40,000. Brown Brothers Harriman & Co. acquired a new position in shares of Okta in the 4th quarter valued at about $43,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of Okta in the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 86.64% of the company's stock.

Insider Activity

In other Okta news, insider Eric Robert Kelleher sold 5,895 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $113.75, for a total transaction of $670,556.25. Following the transaction, the insider now directly owns 9,828 shares in the company, valued at approximately $1,117,935. This represents a 37.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 11,552 shares of Okta 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 sale, the insider now owns 22,125 shares of the company's stock, valued at approximately $2,524,241.25. This represents a 34.30% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,452 shares of company stock worth $2,697,360. 5.68% of the stock is owned by corporate insiders.

Okta Stock Performance

Shares of OKTA traded down $2.70 during mid-day trading on Friday, hitting $97.48. The company's stock had a trading volume of 2,236,031 shares, compared to its average volume of 3,016,183. Okta, Inc. has a one year low of $70.56 and a one year high of $127.57. 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 market capitalization of $17.07 billion, a PE ratio of -278.51, a price-to-earnings-growth ratio of 6.42 and a beta of 0.84. The stock's 50-day moving average is $109.13 and its two-hundred day moving average is $98.55.

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. Okta had a positive return on equity of 0.47% and a negative net margin of 1.54%. The company had revenue of $688.00 million during the quarter, compared to analysts' expectations of $680.14 million. During the same period last year, the business earned $0.65 earnings per share. The business's revenue was up 11.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Okta, Inc. will post 0.42 EPS for the current year.

Analysts Set New Price Targets

OKTA has been the topic of a number of research reports. Cantor Fitzgerald initiated coverage on Okta in a report on Monday, March 31st. They issued an "overweight" rating and a $130.00 target price on the stock. Robert W. Baird upped their target price on Okta from $115.00 to $130.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Evercore ISI upped their target price on Okta from $122.00 to $130.00 and gave the company an "outperform" rating in a report on Wednesday, May 28th. Wells Fargo & Company upped their target price on Okta from $100.00 to $110.00 and gave the company an "equal weight" rating in a report on Wednesday, May 28th. Finally, Canaccord Genuity Group upped their target price on Okta from $100.00 to $115.00 and gave the company a "hold" rating in a report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat, Okta presently has an average rating of "Moderate Buy" and a consensus target price of $121.59.

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.