Caprock Group LLC Grows Holdings in Okta, Inc. (NASDAQ:OKTA)

Caprock Group LLC grew its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 32.6% in the third quarter, Holdings Channel reports. The firm owned 3,786 shares of the company’s stock after acquiring an additional 930 shares during the period. Caprock Group LLC’s holdings in Okta were worth $281,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. National Bank of Canada FI increased its holdings in Okta by 11.0% during the 2nd quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock worth $124,000 after purchasing an additional 130 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of 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 buying an additional 142 shares during the period. CWM LLC raised its holdings in shares of Okta by 5.3% in the second quarter. CWM LLC now owns 2,910 shares of the company’s stock valued at $272,000 after acquiring an additional 147 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in Okta by 4.6% in the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after acquiring an additional 182 shares during the period. Finally, Creative Financial Designs Inc. ADV grew its holdings in Okta by 12.4% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock worth $127,000 after acquiring an additional 188 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Okta news, CRO Jonathan James Addison sold 9,850 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $764,655.50. Following the completion of the transaction, the executive now owns 14,601 shares of the company’s stock, valued at $1,133,475.63. This represents a 40.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Larissa Schwartz sold 2,790 shares of Okta stock in a transaction that occurred on Monday, September 16th. The stock was 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 directly owns 27,713 shares in the company, valued at $2,051,039.13. This represents a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 475,789 shares of company stock worth $35,701,361. Company insiders own 7.00% of the company’s stock.

Okta Stock Performance

NASDAQ OKTA opened at $76.57 on Monday. The stock has a market capitalization of $13.01 billion, a price-to-earnings ratio of -91.15, a PEG ratio of 18.47 and a beta of 1.02. The stock has a 50-day moving average of $74.72 and a 200 day moving average of $85.32. 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, Inc. has a twelve month low of $66.69 and a twelve month high of $114.50.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, topping 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 business had revenue of $646.00 million during the quarter, compared to the consensus estimate of $632.24 million. Sell-side analysts anticipate that Okta, Inc. will post 0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on OKTA shares. Morgan Stanley cut their price objective on shares of Okta from $100.00 to $92.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Jefferies Financial Group reduced their price target on Okta from $100.00 to $85.00 and set a “hold” rating for the company in a research report on Tuesday, September 24th. Canaccord Genuity Group dropped their price objective on Okta from $90.00 to $82.00 and set a “hold” rating on the stock in a research report on Friday, October 18th. BMO Capital Markets increased their price target on shares of Okta from $100.00 to $103.00 and gave the company a “market perform” rating in a research report on Thursday, August 29th. Finally, Needham & Company LLC assumed coverage on shares of Okta in a research note on Thursday, October 17th. They set a “buy” rating and a $100.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $98.30.

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.