Nisa Investment Advisors LLC Sells 600 Shares of Okta, Inc. (NASDAQ:OKTA)

Nisa Investment Advisors LLC lessened its stake in Okta, Inc. (NASDAQ:OKTA) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,880 shares of the company’s stock after selling 600 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Okta were worth $1,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its stake in shares of Okta by 71.4% in the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after buying an additional 142 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in Okta in the 3rd quarter valued at approximately $26,000. Blue Trust Inc. lifted its position in Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after acquiring an additional 191 shares in the last quarter. First Command Advisory Services Inc. purchased a new stake in Okta during the 2nd quarter valued at $47,000. Finally, nVerses Capital LLC bought a new stake in shares of Okta in the 2nd quarter worth $47,000. Institutional investors own 86.64% of the company’s stock.

Okta Stock Up 1.9 %

Shares of OKTA opened at $73.23 on Friday. The business’s 50 day moving average is $75.79 and its 200 day moving average is $87.41. 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 12-month low of $65.04 and a 12-month high of $114.50. The company has a market capitalization of $12.44 billion, a PE ratio of -87.18, a price-to-earnings-growth ratio of 16.64 and a beta of 1.01.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.29. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. The firm had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $632.24 million. Research analysts expect that Okta, Inc. will post 0.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OKTA. The Goldman Sachs Group lowered their price target on Okta from $113.00 to $97.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Jefferies Financial Group lowered their target price on shares of Okta from $100.00 to $85.00 and set a “hold” rating on the stock in a research note on Tuesday, September 24th. BTIG Research reduced their price target on shares of Okta from $128.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. UBS Group lowered their price objective on shares of Okta from $120.00 to $108.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, Wells Fargo & Company dropped their target price on shares of Okta from $90.00 to $80.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $98.96.

Insider Buying and Selling at Okta

In other news, insider Larissa Schwartz sold 2,790 shares of Okta stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.01, for a total value of $206,487.90. Following the sale, the insider now directly owns 27,713 shares of the company’s stock, valued at approximately $2,051,039.13. 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 can be accessed through this hyperlink. In related news, CEO Todd Mckinnon sold 200,512 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the sale, the chief executive officer now owns 8,495 shares of the company’s stock, valued at $638,908.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction of $206,487.90. Following the transaction, the insider now owns 27,713 shares of the company’s stock, valued at $2,051,039.13. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 475,793 shares of company stock valued at $35,759,000 in the last 90 days. Insiders own 7.00% of the company’s stock.

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.