Empowered Funds LLC Acquires 295 Shares of Okta, Inc. (NASDAQ:OKTA)

Empowered Funds LLC raised its holdings in Okta, Inc. (NASDAQ:OKTA) by 5.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,718 shares of the company’s stock after acquiring an additional 295 shares during the period. Empowered Funds LLC’s holdings in Okta were worth $425,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of OKTA. Caprock Group LLC raised its stake in Okta by 4.7% in the second quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock valued at $267,000 after purchasing an additional 129 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Okta by 11.0% during the 2nd quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock worth $124,000 after acquiring an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Okta by 71.4% in the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after acquiring an additional 142 shares in the last quarter. CWM LLC increased its stake in Okta by 5.3% in the second quarter. CWM LLC now owns 2,910 shares of the company’s stock valued at $272,000 after acquiring an additional 147 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its position in Okta by 4.6% during the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock valued at $306,000 after purchasing an additional 182 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Insider Transactions at Okta

In other Okta news, CEO Todd Mckinnon sold 224,533 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $74.62, for a total transaction of $16,754,652.46. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Larissa Schwartz sold 2,791 shares of Okta stock in a transaction on Monday, November 4th. The stock was sold at an average price of $71.50, for a total value of $199,556.50. Following the completion of the sale, the insider now directly owns 22,125 shares of the company’s stock, valued at approximately $1,581,937.50. The trade was a 11.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 475,789 shares of company stock valued at $35,701,361. Insiders own 7.00% of the company’s stock.

Okta Price Performance

Shares of OKTA stock opened at $76.57 on Monday. Okta, Inc. has a twelve month low of $66.69 and a twelve month high of $114.50. The stock has a market cap of $13.01 billion, a price-to-earnings ratio of -91.15, a PEG ratio of 18.47 and a beta of 1.02. The business’s fifty day moving average is $74.72 and its 200 day moving average is $85.32. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.29. The firm had revenue of $646.00 million during the quarter, compared to analyst estimates of $632.24 million. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. Research analysts expect that Okta, Inc. will post 0.19 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on OKTA. Wells Fargo & Company cut their price objective on Okta from $90.00 to $80.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Jefferies Financial Group reduced their price target on shares of Okta from $100.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, September 24th. DA Davidson lowered their price objective on shares of Okta from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. Canaccord Genuity Group reduced their target price on shares of Okta from $90.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, October 18th. Finally, Needham & Company LLC assumed coverage on shares of Okta in a research report on Thursday, October 17th. They issued a “buy” rating and a $100.00 target price on the stock. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $98.30.

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.