Future Financial Wealth Managment LLC Invests $63,000 in Okta, Inc. (NASDAQ:OKTA)

Future Financial Wealth Managment LLC purchased a new stake in shares of Okta, Inc. (NASDAQ:OKTA) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 600 shares of the company’s stock, valued at approximately $63,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sunbelt Securities Inc. boosted its stake in Okta by 310.1% in the 1st quarter. Sunbelt Securities Inc. now owns 1,903 shares of the company’s stock worth $199,000 after purchasing an additional 1,439 shares during the period. Strategic Planning Group LLC boosted its position in shares of Okta by 4.5% in the first quarter. Strategic Planning Group LLC now owns 21,740 shares of the company’s stock valued at $2,274,000 after acquiring an additional 935 shares during the period. CHICAGO TRUST Co NA bought a new position in shares of Okta in the first quarter valued at approximately $219,000. High Net Worth Advisory Group LLC purchased a new position in Okta during the first quarter valued at approximately $406,000. Finally, Ballentine Partners LLC increased its holdings in Okta by 6.9% during the 1st quarter. Ballentine Partners LLC now owns 2,651 shares of the company’s stock worth $277,000 after acquiring an additional 170 shares during the period. 86.64% of the stock is owned by institutional investors.

Okta Price Performance

NASDAQ:OKTA opened at $88.30 on Thursday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is $93.40 and its 200-day moving average price is $92.58. Okta, Inc. has a 1-year low of $65.04 and a 1-year high of $114.50.

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

Wall Street Analyst Weigh In

OKTA has been the subject of a number of recent analyst reports. Piper Sandler boosted their price target on shares of Okta from $85.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. The Goldman Sachs Group increased their price target on shares of Okta from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. UBS Group dropped their target price on Okta from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Mizuho boosted their price target on shares of Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, May 17th. Finally, BMO Capital Markets reduced their price target on Okta from $110.00 to $100.00 and set a “market perform” rating on the stock in a research report on Monday, June 3rd. Nineteen equities research 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 has a consensus rating of “Hold” and a consensus price target of $105.58.

Insider Buying and Selling

In other Okta news, Director Jacques Frederic Kerrest sold 1,552 shares of Okta stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $86.99, for a total transaction of $135,008.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.00% of the stock is currently owned by company 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.