17,329 Shares in Okta, Inc. (NASDAQ:OKTA) Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI bought a new stake in shares of Okta, Inc. (NASDAQ:OKTA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 17,329 shares of the company’s stock, valued at approximately $1,622,000.

Several other large investors have also recently made changes to their positions in the business. City State Bank lifted its stake in shares of Okta by 160.0% in the first quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after buying an additional 160 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Okta by 71.4% during the 1st 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 last quarter. First Command Advisory Services Inc. bought a new stake in shares of Okta in the 2nd quarter worth $47,000. nVerses Capital LLC purchased a new position in shares of Okta in the second quarter worth $47,000. Finally, Principal Securities Inc. bought a new position in shares of Okta during the fourth quarter valued at $48,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Price Performance

OKTA stock opened at $74.21 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. The company’s fifty day moving average price is $88.92 and its 200-day moving average price is $94.45. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50. The company has a market capitalization of $12.48 billion, a PE ratio of -44.44, a price-to-earnings-growth ratio of 40.71 and a beta of 1.02.

Insider Buying and Selling at Okta

In other news, Director Jacques Frederic Kerrest sold 2,100 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $95.12, for a total transaction of $199,752.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Larissa Schwartz sold 2,790 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.01, for a total transaction of $206,487.90. Following the sale, the insider now owns 27,713 shares of the company’s stock, valued at $2,051,039.13. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jacques Frederic Kerrest sold 2,100 shares of Okta stock in a transaction on Friday, June 28th. The stock was sold at an average price of $95.12, for a total transaction of $199,752.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 348,963 shares of company stock worth $32,972,289. Insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Guggenheim reissued a “buy” rating and issued a $130.00 target price on shares of Okta in a research report on Tuesday, June 25th. Canaccord Genuity Group lowered their price objective on shares of Okta from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, August 29th. Citigroup cut their target price on shares of Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 price target on shares of Okta in a report on Thursday, August 29th. Finally, Evercore ISI upgraded Okta from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $102.00 to $122.00 in a research report on Thursday, May 30th. One investment 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $105.14.

Okta 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.