Okta, Inc. (NASDAQ:OKTA) Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC grew its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 119.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,021 shares of the company’s stock after buying an additional 8,166 shares during the period. Janney Montgomery Scott LLC’s holdings in Okta were worth $1,581,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. TD Private Client Wealth LLC grew its stake in shares of Okta by 3,507.7% during the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock valued at $37,000 after buying an additional 456 shares during the period. CX Institutional purchased a new stake in shares of Okta during the 1st quarter valued at $52,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Okta during the 4th quarter valued at $40,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Okta during the 4th quarter valued at $43,000. Finally, True Wealth Design LLC grew its stake in shares of Okta by 237.4% during the 4th quarter. True Wealth Design LLC now owns 577 shares of the company’s stock valued at $45,000 after buying an additional 406 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OKTA has been the subject of a number of research reports. Evercore ISI upped their price target on shares of Okta from $122.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 28th. UBS Group decreased their price target on shares of Okta from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, May 28th. Truist Financial upped their price target on shares of Okta from $92.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, March 4th. Scotiabank upped their price target on shares of Okta from $109.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 28th. Finally, Barclays decreased their price target on shares of Okta from $135.00 to $120.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 28th. 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 stock. According to data from MarketBeat.com, Okta has an average rating of “Moderate Buy” and an average target price of $121.59.

Okta Price Performance

NASDAQ OKTA opened at $98.43 on Friday. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.05. The stock has a market cap of $17.23 billion, a price-to-earnings ratio of 156.24, a price-to-earnings-growth ratio of 4.75 and a beta of 0.84. The company has a 50-day moving average price of $109.10 and a two-hundred day moving average price of $99.89.

Okta (NASDAQ:OKTA) last posted its earnings results on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.77 by $0.09. Okta had a net margin of 4.85% and a return on equity of 2.79%. The firm had revenue of $688.00 million during the quarter, compared to analysts’ expectations of $680.14 million. During the same quarter in the prior year, the firm earned $0.65 EPS. Okta’s quarterly revenue was up 11.5% on a year-over-year basis. Analysts forecast that Okta, Inc. will post 0.42 EPS for the current year.

Insider Activity at Okta

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

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.