Atomi Financial Group Inc. Purchases 547 Shares of Okta, Inc. (NASDAQ:OKTA)

Atomi Financial Group Inc. raised its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 24.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,747 shares of the company’s stock after acquiring an additional 547 shares during the quarter. Atomi Financial Group Inc.’s holdings in Okta were worth $204,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fisher Asset Management LLC acquired a new position in Okta during the fourth quarter worth $296,000. Wahed Invest LLC increased its holdings in shares of Okta by 8.6% in the fourth quarter. Wahed Invest LLC now owns 2,606 shares of the company’s stock valued at $236,000 after purchasing an additional 207 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Okta by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 15,719,619 shares of the company’s stock valued at $1,423,097,000 after purchasing an additional 438,496 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in shares of Okta by 19.5% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 3,405 shares of the company’s stock worth $308,000 after buying an additional 556 shares during the last quarter. Finally, Symmetry Partners LLC bought a new stake in shares of Okta during the 1st quarter worth about $221,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Okta

In related news, CEO Todd Mckinnon sold 179,687 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $93.42, for a total value of $16,786,359.54. Following the completion of the transaction, the chief executive officer now owns 47,883 shares in the company, valued at $4,473,229.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Todd Mckinnon sold 179,687 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $93.42, for a total value of $16,786,359.54. Following the sale, the chief executive officer now owns 47,883 shares of the company’s stock, valued at $4,473,229.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Larissa Schwartz sold 2,790 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.01, for a total value of $206,487.90. Following the completion of the sale, the insider now owns 27,713 shares of the company’s stock, valued at $2,051,039.13. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 540,439 shares of company stock worth $46,557,801. Insiders own 7.00% of the company’s stock.

Wall Street Analysts Forecast Growth

OKTA has been the subject of a number of research analyst reports. Guggenheim restated a “buy” rating and set a $130.00 price objective on shares of Okta in a report on Tuesday, June 25th. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price target on shares of Okta in a research note on Thursday, August 29th. Bank of America cut Okta from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $135.00 to $75.00 in a research report on Thursday, August 29th. Wells Fargo & Company decreased their price target on shares of Okta from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Finally, UBS Group dropped their price objective on shares of Okta from $120.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Okta has an average rating of “Hold” and a consensus price target of $104.43.

Okta Stock Performance

Shares of Okta stock opened at $77.34 on Monday. The company’s 50 day moving average price is $81.43 and its two-hundred day moving average price is $90.06. The firm has a market capitalization of $13.01 billion, a P/E ratio of -46.31, a P/E/G ratio of 26.91 and a beta of 1.02. Okta, Inc. has a fifty-two week low of $65.04 and a fifty-two week high of $114.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $632.24 million. On average, equities analysts forecast that Okta, Inc. will post 0.12 earnings per share for the current fiscal year.

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.