Eagle Asset Management Inc. Has $1.60 Million Stake in Okta, Inc. (NASDAQ:OKTA)

Eagle Asset Management Inc. increased its stake in Okta, Inc. (NASDAQ:OKTA) by 21.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,784 shares of the company’s stock after purchasing an additional 3,685 shares during the period. Eagle Asset Management Inc.’s holdings in Okta were worth $1,595,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new stake in shares of Okta in the third quarter valued at about $26,000. Blue Trust Inc. raised its position in Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after buying an additional 191 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Okta by 71.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after acquiring an additional 142 shares in the last quarter. First Command Advisory Services Inc. bought a new stake in Okta in the 2nd quarter valued at approximately $47,000. Finally, nVerses Capital LLC acquired a new position in Okta during the 2nd quarter worth approximately $47,000. Institutional investors own 86.64% of the company’s stock.

Okta Stock Down 0.1 %

OKTA opened at $76.50 on Tuesday. The stock has a fifty day moving average of $74.77 and a 200-day moving average of $85.17. The company has a market capitalization of $12.99 billion, a P/E ratio of -91.07, a P/E/G ratio of 18.75 and a beta of 1.02. Okta, Inc. has a fifty-two week low of $66.69 and a fifty-two week high of $114.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on OKTA. Truist Financial cut their price objective on shares of Okta from $95.00 to $80.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Barclays began coverage on shares of Okta in a research report on Tuesday, November 19th. They set an “equal weight” rating and a $81.00 price target on the stock. Citigroup decreased their price objective on Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Morgan Stanley lowered their target price on Okta from $100.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. Finally, DA Davidson reduced their price target on Okta from $85.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $98.30.

Insider Transactions at Okta

In other news, CRO Jonathan James Addison sold 9,850 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $764,655.50. Following the completion of the transaction, the executive now owns 14,601 shares of the company’s stock, valued at approximately $1,133,475.63. The trade was a 40.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 2,791 shares of the company’s 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 sale, the insider now owns 22,125 shares of the company’s stock, valued at approximately $1,581,937.50. This represents a 11.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 475,789 shares of company stock valued at $35,701,361. 7.00% of the stock is owned by corporate insiders.

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.