MBB Public Markets I LLC Takes Position in Okta, Inc. (NASDAQ:OKTA)

MBB Public Markets I LLC purchased a new stake in shares of Okta, Inc. (NASDAQ:OKTA) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 11,333 shares of the company’s stock, valued at approximately $1,061,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. City State Bank lifted its holdings 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. EverSource Wealth Advisors LLC increased its position in Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after acquiring an additional 142 shares during the last quarter. First Command Advisory Services Inc. purchased a new stake in Okta during the second quarter valued at $47,000. nVerses Capital LLC purchased a new stake in Okta during the second quarter valued at $47,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Okta during the first quarter valued at $63,000. 86.64% of the stock is owned by institutional investors.

Okta Price Performance

Shares of Okta stock opened at $74.34 on Tuesday. The stock has a 50 day moving average of $84.80 and a 200 day moving average of $92.05. Okta, Inc. has a 12 month low of $65.04 and a 12 month high of $114.50. The firm has a market cap of $12.63 billion, a PE ratio of -44.51, a PEG ratio of 37.51 and a beta of 1.01. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.29. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. The company had revenue of $646.00 million during the quarter, compared to analyst estimates of $632.24 million. On average, research analysts expect that Okta, Inc. will post 0.09 EPS for the current fiscal year.

Insider Activity at Okta

In other news, Director Jacques Frederic Kerrest sold 34,620 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $96.04, for a total value of $3,324,904.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Jacques Frederic Kerrest sold 34,620 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $96.04, for a total value of $3,324,904.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 2,792 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $99.40, for a total value of $277,524.80. Following the completion of the sale, the insider now directly owns 29,809 shares of the company’s stock, valued at $2,963,014.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 575,059 shares of company stock valued at $49,882,706. Insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on OKTA shares. JPMorgan Chase & Co. reduced their price objective on Okta from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Susquehanna reduced their price objective on Okta from $110.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Wells Fargo & Company reduced their price objective on Okta from $100.00 to $90.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Westpark Capital reiterated a “buy” rating and set a $140.00 price objective on shares of Okta in a research report on Thursday, August 29th. Finally, Truist Financial restated a “hold” rating and issued a $95.00 price target (down previously from $105.00) on shares of Okta in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $104.62.

Okta Company 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.