Resonant Capital Advisors LLC Has $296,000 Stake in Okta, Inc. (NASDAQ:OKTA)

Resonant Capital Advisors LLC boosted its holdings in Okta, Inc. (NASDAQ:OKTA) by 7.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,978 shares of the company’s stock after purchasing an additional 283 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Okta were worth $296,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alta Wealth Advisors LLC bought a new stake in shares of Okta during the third quarter worth $223,000. Slow Capital Inc. grew its holdings in Okta by 7.2% during the 3rd quarter. Slow Capital Inc. now owns 30,785 shares of the company’s stock worth $2,289,000 after acquiring an additional 2,071 shares during the period. Blue Trust Inc. boosted its stake in Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after acquiring an additional 191 shares in the last quarter. Aaron Wealth Advisors LLC raised its position in shares of Okta by 19.0% during the third quarter. Aaron Wealth Advisors LLC now owns 3,419 shares of the company’s stock worth $254,000 after purchasing an additional 547 shares during the period. Finally, Bleakley Financial Group LLC raised its position in shares of Okta by 4.6% during the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after purchasing an additional 182 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on OKTA. JPMorgan Chase & Co. dropped their price target on Okta from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Stifel Nicolaus reduced their price target on shares of Okta from $122.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Scotiabank lowered their price objective on shares of Okta from $104.00 to $92.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 29th. Wells Fargo & Company reduced their target price on shares of Okta from $90.00 to $80.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Canaccord Genuity Group lowered their target price on Okta from $90.00 to $82.00 and set a “hold” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $99.38.

Insider Buying and Selling at Okta

In other Okta news, insider Larissa Schwartz sold 2,795 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was 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 directly owns 27,014 shares in the company, valued at $2,485,828.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Okta news, insider Larissa Schwartz sold 2,795 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Jonathan James Addison sold 9,850 shares of the firm’s 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 sale, the executive now owns 14,601 shares in the company, valued at approximately $1,133,475.63. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 251,260 shares of company stock worth $19,004,347. Insiders own 7.00% of the company’s stock.

Okta Price Performance

Shares of NASDAQ OKTA opened at $74.82 on Monday. The company has a 50 day simple moving average of $80.44 and a two-hundred day simple moving average of $89.20. The company has a market capitalization of $12.59 billion, a price-to-earnings ratio of -44.80, a P/E/G ratio of 18.05 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 quick ratio of 1.83 and a current ratio of 1.83.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 EPS 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 analysts’ expectations of $632.24 million. Analysts expect that Okta, Inc. will post 0.19 EPS 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.