Strategic Planning Group LLC Acquires 935 Shares of Okta, Inc. (NASDAQ:OKTA)

Strategic Planning Group LLC raised its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 4.5% in the first quarter, Holdings Channel.com reports. The firm owned 21,740 shares of the company’s stock after purchasing an additional 935 shares during the period. Strategic Planning Group LLC’s holdings in Okta were worth $2,274,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in OKTA. City State Bank increased its stake in shares of Okta by 160.0% during the first quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after purchasing an additional 160 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Okta during the fourth quarter valued at approximately $29,000. Principal Securities Inc. bought a new position in shares of Okta during the fourth quarter valued at approximately $48,000. Tucker Asset Management LLC bought a new stake in shares of Okta during the third quarter valued at approximately $65,000. Finally, UMB Bank n.a. increased its position in shares of Okta by 150.5% during the fourth quarter. UMB Bank n.a. now owns 749 shares of the company’s stock valued at $68,000 after acquiring an additional 450 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Okta Stock Up 0.1 %

OKTA opened at $88.43 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.73 and a current ratio of 1.73. Okta, Inc. has a fifty-two week low of $65.04 and a fifty-two week high of $114.50. The firm’s fifty day moving average is $93.63 and its 200 day moving average is $92.49. The stock has a market cap of $14.88 billion, a price-to-earnings ratio of -52.90 and a beta of 1.03.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, May 29th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.27. The company had revenue of $617.00 million for the quarter, compared to analysts’ expectations of $604.33 million. Okta had a negative net margin of 11.69% and a negative return on equity of 3.81%. On average, sell-side analysts forecast that Okta, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 1,552 shares of Okta stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $86.99, for a total value of $135,008.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 7.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

OKTA has been the subject of several analyst reports. Oppenheimer raised their price target on shares of Okta from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Truist Financial reissued a “hold” rating and set a $105.00 price target (up previously from $85.00) on shares of Okta in a research report on Thursday, February 29th. BMO Capital Markets reduced their price target on shares of Okta from $110.00 to $100.00 and set a “market perform” rating for the company in a research report on Monday, June 3rd. Susquehanna reduced their price target on shares of Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Finally, Bank of America upgraded shares of Okta from an “underperform” rating to a “buy” rating and raised their target price for the stock from $64.00 to $135.00 in a report on Thursday, February 29th. Nineteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $104.48.

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.