Wealth Enhancement Advisory Services LLC Buys 4,171 Shares of Okta, Inc. (NASDAQ:OKTA)

Wealth Enhancement Advisory Services LLC grew its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 52.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,126 shares of the company’s stock after buying an additional 4,171 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Okta were worth $956,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Marshall Wace LLP grew its holdings in shares of Okta by 35.5% during the fourth quarter. Marshall Wace LLP now owns 3,583,937 shares of the company’s stock worth $282,414,000 after purchasing an additional 938,509 shares in the last quarter. Norges Bank purchased a new position in shares of Okta during the fourth quarter worth about $234,992,000. Geode Capital Management LLC grew its holdings in shares of Okta by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company’s stock worth $212,385,000 after purchasing an additional 135,110 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Okta by 236.8% during the fourth quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company’s stock worth $176,271,000 after purchasing an additional 1,572,786 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Okta by 2,135.7% during the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company’s stock worth $150,845,000 after purchasing an additional 1,828,630 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Okta Price Performance

OKTA opened at $101.20 on Tuesday. The stock has a fifty day simple moving average of $108.77 and a two-hundred day simple moving average of $98.35. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The company has a market cap of $17.72 billion, a price-to-earnings ratio of -289.14, a price-to-earnings-growth ratio of 6.42 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 released its earnings results on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. Okta had a positive return on equity of 0.47% and a negative net margin of 1.54%. The firm had revenue of $688.00 million for the quarter, compared to analysts’ expectations of $680.14 million. During the same period in the prior year, the firm posted $0.65 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. Research analysts predict that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 11,552 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the sale, the insider now directly owns 22,125 shares of the company’s stock, valued at $2,524,241.25. This trade represents a 34.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Jonathan James Addison sold 7,005 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of $101.19, for a total value of $708,835.95. Following the sale, the executive now directly owns 19,067 shares in the company, valued at $1,929,389.73. This trade represents a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,452 shares of company stock valued at $2,697,360. Insiders own 5.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JMP Securities reissued a “market perform” rating on shares of Okta in a report on Wednesday, May 28th. KeyCorp boosted their price objective on Okta from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Roth Capital reaffirmed a “buy” rating and issued a $119.00 target price on shares of Okta in a research note on Wednesday, May 28th. DA Davidson cut their target price on Okta from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, May 28th. Finally, Wells Fargo & Company upped their target price on Okta from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Okta presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.59.

Okta 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.