Advisors Management Group Inc. ADV Increases Position in Okta, Inc. (NASDAQ:OKTA)

Advisors Management Group Inc. ADV increased its stake in Okta, Inc. (NASDAQ:OKTA) by 32.3% in the third quarter, HoldingsChannel.com reports. The firm owned 11,758 shares of the company’s stock after acquiring an additional 2,871 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in Okta were worth $874,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in OKTA. Future Financial Wealth Managment LLC purchased a new position in shares of Okta in the 3rd quarter valued at about $26,000. Blue Trust Inc. increased its holdings in shares of Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after purchasing an additional 191 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Okta by 71.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after purchasing an additional 142 shares in the last quarter. First Command Advisory Services Inc. purchased a new position in shares of Okta in the 2nd quarter valued at about $47,000. Finally, nVerses Capital LLC purchased a new position in shares of Okta in the 2nd quarter valued at about $47,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analyst Ratings Changes

OKTA has been the subject of several recent research reports. Morgan Stanley dropped their target price on shares of Okta from $100.00 to $92.00 and set an “equal weight” rating for the company in a report on Monday. Jefferies Financial Group decreased their target price on shares of Okta from $100.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, September 24th. Needham & Company LLC assumed coverage on shares of Okta in a research report on Thursday, October 17th. They issued a “buy” rating and a $100.00 target price on the stock. Susquehanna reduced their price target on shares of Okta from $110.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Finally, Citigroup reduced their price target on shares of Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $99.39.

Insider Activity

In other news, insider Larissa Schwartz sold 2,795 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $92.02, for a total transaction of $257,195.90. Following the completion of the transaction, the insider now owns 27,014 shares of the company’s stock, valued at approximately $2,485,828.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Larissa Schwartz sold 2,795 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $92.02, for a total transaction of $257,195.90. Following the completion of the transaction, the insider now owns 27,014 shares of the company’s stock, valued at approximately $2,485,828.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CRO Jonathan James Addison sold 9,850 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $77.63, for a total transaction of $764,655.50. Following the transaction, the executive now directly owns 14,601 shares of the company’s stock, valued at approximately $1,133,475.63. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 478,584 shares of company stock valued at $35,958,556. 7.00% of the stock is currently owned by company insiders.

Okta Stock Up 3.4 %

OKTA stock opened at $76.61 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. Okta, Inc. has a 1-year low of $65.98 and a 1-year high of $114.50. The firm has a fifty day moving average price of $74.44 and a two-hundred day moving average price of $86.96. The firm has a market cap of $13.01 billion, a price-to-earnings ratio of -91.20, a PEG ratio of 16.96 and a beta of 1.02.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.29. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. The firm had revenue of $646.00 million during the quarter, compared to analyst estimates of $632.24 million. Research analysts predict that Okta, Inc. will post 0.19 EPS for the current 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.