Cambridge Investment Research Advisors Inc. Grows Stock Position in Okta, Inc. (NASDAQ:OKTA)

Cambridge Investment Research Advisors Inc. grew its position in shares of Okta, Inc. (NASDAQ:OKTA) by 11.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,285 shares of the company’s stock after buying an additional 1,721 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Okta were worth $1,524,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Banque Cantonale Vaudoise raised its stake in Okta by 4.3% in the 1st quarter. Banque Cantonale Vaudoise now owns 2,933 shares of the company’s stock valued at $307,000 after acquiring an additional 122 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Okta by 50.4% in the first quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock worth $41,000 after purchasing an additional 131 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Okta by 71.4% in the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after purchasing an additional 142 shares during the period. CWM LLC lifted its stake in shares of Okta by 5.3% during the 2nd quarter. CWM LLC now owns 2,910 shares of the company’s stock valued at $272,000 after buying an additional 147 shares in the last quarter. Finally, City State Bank lifted its stake in shares of Okta by 160.0% during the 1st quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after buying an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analyst Ratings Changes

OKTA has been the topic of a number of analyst reports. BMO Capital Markets boosted their target price on shares of Okta from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Thursday, August 29th. Canaccord Genuity Group decreased their price objective on Okta from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, August 29th. Guggenheim reissued a “buy” rating and set a $130.00 price objective on shares of Okta in a report on Tuesday, June 25th. Robert W. Baird reduced their target price on Okta from $108.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. Finally, Piper Sandler lowered their price target on shares of Okta from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $106.00.

Insider Buying and Selling

In other news, insider Larissa Schwartz sold 2,795 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $92.02, for a total value of $257,195.90. Following the transaction, the insider now owns 27,014 shares in the company, valued at $2,485,828.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Okta news, insider Larissa Schwartz sold 2,795 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $92.02, for a total transaction of $257,195.90. Following the completion of the sale, the insider now owns 27,014 shares of the company’s stock, valued at approximately $2,485,828.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jacques Frederic Kerrest sold 18,878 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $87.19, for a total transaction of $1,645,972.82. The disclosure for this sale can be found here. Insiders have sold a total of 365,051 shares of company stock worth $34,411,773 in the last ninety days. 7.00% of the stock is owned by insiders.

Okta Stock Down 3.4 %

OKTA opened at $76.04 on Wednesday. Okta, Inc. has a 12 month low of $65.04 and a 12 month high of $114.50. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.19. The business’s 50-day moving average price is $92.62 and its 200-day moving average price is $95.35. The company has a market cap of $12.79 billion, a P/E ratio of -45.53 and a beta of 1.03.

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.