FDx Advisors Inc. bought a new stake in Okta Inc (NASDAQ:OKTA) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,976 shares of the company’s stock, valued at approximately $449,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Clarius Group LLC raised its stake in shares of Okta by 2.7% in the first quarter. Clarius Group LLC now owns 2,680 shares of the company’s stock valued at $328,000 after purchasing an additional 70 shares in the last quarter. ProShare Advisors LLC raised its stake in Okta by 1.5% during the fourth quarter. ProShare Advisors LLC now owns 5,085 shares of the company’s stock worth $587,000 after acquiring an additional 73 shares in the last quarter. CSat Investment Advisory L.P. raised its stake in Okta by 20.6% during the first quarter. CSat Investment Advisory L.P. now owns 445 shares of the company’s stock worth $54,000 after acquiring an additional 76 shares in the last quarter. Cetera Investment Advisers raised its stake in Okta by 2.4% during the first quarter. Cetera Investment Advisers now owns 4,279 shares of the company’s stock worth $523,000 after acquiring an additional 100 shares in the last quarter. Finally, Lindbrook Capital LLC raised its stake in Okta by 62.0% during the first quarter. Lindbrook Capital LLC now owns 324 shares of the company’s stock worth $40,000 after acquiring an additional 124 shares in the last quarter. Institutional investors and hedge funds own 75.57% of the company’s stock.

OKTA has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on Okta from $154.00 to $192.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. BMO Capital Markets dropped their price objective on Okta from $210.00 to $205.00 and set an “outperform” rating for the company in a research note on Friday, May 29th. BTIG Research lowered Okta from a “buy” rating to a “neutral” rating in a research note on Monday. Zacks Investment Research upgraded Okta from a “hold” rating to a “buy” rating and set a $173.00 target price for the company in a research note on Wednesday, May 6th. Finally, Oppenheimer raised their target price on Okta from $130.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $181.56.

In related news, insider Charles Race sold 50,000 shares of Okta stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $132.45, for a total value of $6,622,500.00. Following the sale, the insider now owns 65,401 shares of the company’s stock, valued at approximately $8,662,362.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Benjamin A. Horowitz sold 37,878 shares of Okta stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $198.94, for a total value of $7,535,449.32. The disclosure for this sale can be found here. In the last three months, insiders sold 536,287 shares of company stock worth $93,666,752. 12.02% of the stock is owned by insiders.

NASDAQ OKTA opened at $199.84 on Tuesday. The firm has a market cap of $25.36 billion, a P/E ratio of -111.64 and a beta of 1.07. The company has a debt-to-equity ratio of 2.52, a current ratio of 2.86 and a quick ratio of 2.86. The stock’s 50-day moving average is $188.28 and its 200-day moving average is $143.72. Okta Inc has a one year low of $88.66 and a one year high of $206.09.

Okta (NASDAQ:OKTA) last announced its earnings results on Thursday, May 28th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.10. Okta had a negative return on equity of 44.99% and a negative net margin of 33.34%. The business had revenue of $182.86 million for the quarter, compared to analyst estimates of $171.57 million. During the same quarter last year, the firm earned ($0.19) EPS. Okta’s revenue for the quarter was up 46.0% compared to the same quarter last year. Equities analysts anticipate that Okta Inc will post -1.51 EPS for the current year.

Okta Profile

Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.

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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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