RWA Wealth Partners LLC Has $2.30 Million Stock Holdings in Okta, Inc. $OKTA

RWA Wealth Partners LLC cut its holdings in Okta, Inc. (NASDAQ:OKTA) by 15.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,819 shares of the company’s stock after selling 4,109 shares during the quarter. RWA Wealth Partners LLC’s holdings in Okta were worth $2,296,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Qtron Investments LLC boosted its holdings in Okta by 68.1% in the first quarter. Qtron Investments LLC now owns 5,874 shares of the company’s stock valued at $618,000 after acquiring an additional 2,380 shares during the last quarter. Northern Trust Corp boosted its holdings in Okta by 7.9% in the first quarter. Northern Trust Corp now owns 1,080,533 shares of the company’s stock valued at $113,694,000 after acquiring an additional 79,506 shares during the last quarter. Versor Investments LP bought a new position in Okta in the first quarter valued at about $3,511,000. Ethic Inc. boosted its holdings in Okta by 69.6% in the first quarter. Ethic Inc. now owns 14,898 shares of the company’s stock valued at $1,560,000 after acquiring an additional 6,113 shares during the last quarter. Finally, Aberdeen Group plc boosted its holdings in Okta by 123.2% in the first quarter. Aberdeen Group plc now owns 103,654 shares of the company’s stock valued at $10,906,000 after acquiring an additional 57,207 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. DA Davidson decreased their price target on Okta from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, May 28th. Stephens reiterated an “equal weight” rating and issued a $127.00 price target on shares of Okta in a report on Tuesday, May 27th. Jefferies Financial Group decreased their price target on Okta from $130.00 to $105.00 and set a “hold” rating on the stock in a report on Thursday, July 24th. Needham & Company LLC raised their price target on Okta from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, May 28th. Finally, Scotiabank raised their target price on Okta from $109.00 to $115.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 28th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $118.06.

Insider Transactions at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 581 shares of the business’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 transaction of $58,268.49. Following the transaction, the director owned 2,832 shares of the company’s stock, valued at $284,021.28. The trade was a 17.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Eric Robert Kelleher sold 16,018 shares of the business’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total value of $1,470,612.58. Following the transaction, the insider directly owned 7,044 shares in the company, valued at $646,709.64. This trade represents a 69.46% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,594 shares of company stock worth $8,382,790. Corporate insiders own 5.68% of the company’s stock.

Okta Trading Down 0.7%

NASDAQ OKTA opened at $91.38 on Tuesday. The stock has a market capitalization of $16.00 billion, a price-to-earnings ratio of 145.05, a PEG ratio of 4.45 and a beta of 0.80. The stock’s 50 day moving average price is $96.32 and its two-hundred day moving average price is $102.63. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.47 and a current ratio of 1.47. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57.

Okta (NASDAQ:OKTA) last released its earnings results on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.77 by $0.09. The firm had revenue of $688.00 million for the quarter, compared to analysts’ expectations of $680.14 million. Okta had a return on equity of 2.79% and a net margin of 4.85%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 EPS. As a group, analysts anticipate that Okta, Inc. will post 0.42 earnings per share 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.