Okta, Inc. (NASDAQ:OKTA) Shares Acquired by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. boosted its holdings in Okta, Inc. (NASDAQ:OKTA) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,136 shares of the company’s stock after purchasing an additional 189 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Okta were worth $1,370,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. NBC Securities Inc. acquired a new stake in shares of Okta during the third quarter worth approximately $27,000. GAMMA Investing LLC acquired a new position in Okta during the 4th quarter worth $29,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Okta in the 3rd quarter worth about $39,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of Okta in the 3rd quarter valued at about $64,000. Finally, Tucker Asset Management LLC bought a new position in shares of Okta during the third quarter worth about $65,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Buying and Selling at Okta

In other Okta news, Director Shellye L. Archambeau sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $106.96, for a total value of $534,800.00. Following the transaction, the director now owns 6,042 shares in the company, valued at approximately $646,252.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Shellye L. Archambeau sold 5,000 shares of Okta stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the completion of the sale, the director now owns 6,042 shares of the company’s stock, valued at $646,252.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Shibu Ninan sold 4,279 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total value of $445,615.06. Following the completion of the transaction, the chief accounting officer now directly owns 4,111 shares in the company, valued at $428,119.54. The disclosure for this sale can be found here. Insiders have sold a total of 11,779 shares of company stock valued at $1,205,990 in the last 90 days. 7.36% of the stock is currently owned by corporate insiders.

Okta Trading Up 2.8 %

Okta stock opened at $99.25 on Tuesday. The company has a 50 day moving average price of $100.89 and a 200 day moving average price of $86.73. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 1.67. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50. The firm has a market capitalization of $16.61 billion, a price-to-earnings ratio of -45.74 and a beta of 0.98.

Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, February 28th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.35. The business had revenue of $605.00 million during the quarter, compared to analysts’ expectations of $586.25 million. Okta had a negative return on equity of 5.69% and a negative net margin of 15.69%. Research analysts forecast that Okta, Inc. will post -1.51 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Susquehanna boosted their price objective on Okta from $70.00 to $115.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Truist Financial reaffirmed a “hold” rating and issued a $105.00 price objective (up previously from $85.00) on shares of Okta in a report on Thursday, February 29th. Canaccord Genuity Group lifted their price target on shares of Okta from $85.00 to $95.00 and gave the company a “hold” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. raised their target price on shares of Okta from $74.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Finally, Evercore ISI upped their target price on Okta from $70.00 to $102.00 and gave the company an “in-line” rating in a report on Thursday, February 29th. Twenty analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $100.39.

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.