Okta, Inc. (NASDAQ:OKTA) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its position in shares of Okta, Inc. (NASDAQ:OKTA) by 220.9% during the first quarter, Holdings Channel.com reports. The fund owned 38,917 shares of the company’s stock after acquiring an additional 26,791 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Okta were worth $4,095,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. GPS Wealth Strategies Group LLC boosted its position in Okta by 7.2% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 1,484 shares of the company’s stock worth $156,000 after acquiring an additional 100 shares during the period. Frank Rimerman Advisors LLC boosted its position in Okta by 2.4% during the 4th quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock worth $352,000 after acquiring an additional 105 shares during the period. The Manufacturers Life Insurance Company boosted its position in Okta by 1.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company’s stock worth $620,000 after acquiring an additional 136 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in Okta by 3.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,646 shares of the company’s stock worth $445,000 after acquiring an additional 171 shares during the period. Finally, Great Lakes Advisors LLC boosted its position in Okta by 2.7% during the 4th quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company’s stock worth $557,000 after acquiring an additional 184 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Stock Performance

Shares of NASDAQ OKTA opened at $98.13 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $109.09 and its two-hundred day moving average is $99.78. The company has a market cap of $17.18 billion, a P/E ratio of 155.76, a P/E/G ratio of 4.75 and a beta of 0.84. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $127.57.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. Okta had a return on equity of 2.79% and a net margin of 4.85%. The company had revenue of $688.00 million for the quarter, compared to analyst estimates of $680.14 million. During the same quarter last year, the firm earned $0.65 EPS. Okta’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Cantor Fitzgerald initiated coverage on Okta in a research report on Monday, March 31st. They set an “overweight” rating and a $130.00 price objective for the company. The Goldman Sachs Group lifted their price target on Okta from $123.00 to $137.00 and gave the company a “buy” rating in a report on Wednesday, May 28th. Loop Capital initiated coverage on Okta in a report on Monday, May 5th. They set a “buy” rating and a $140.00 price target for the company. Susquehanna lifted their price target on Okta from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. lifted their price target on Okta from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.59.

Insider Transactions at Okta

In other news, insider Larissa Schwartz sold 1,105 shares of Okta stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $98.50, for a total transaction of $108,842.50. Following the sale, the insider now owns 25,884 shares of the company’s stock, valued at approximately $2,549,574. This trade represents a 4.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jacques Frederic Kerrest sold 581 shares of Okta stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $100.29, for a total value of $58,268.49. Following the sale, the director now directly owns 2,832 shares in the company, valued at $284,021.28. The trade was a 17.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,935 shares of company stock valued at $1,100,347. 5.68% of the stock is owned by corporate insiders.

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.