Planning Capital Management Corp Makes New $49,000 Investment in Okta, Inc. (NASDAQ:OKTA)

Planning Capital Management Corp purchased a new stake in Okta, Inc. (NASDAQ:OKTA) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 657 shares of the company’s stock, valued at approximately $49,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC bought a new position in Okta during the 3rd quarter valued at $26,000. Blue Trust Inc. lifted its position in shares of Okta by 105.5% during the third 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 lifted its position in shares of Okta by 71.4% during the first 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. bought a new position in shares of Okta during the second quarter valued at about $47,000. Finally, nVerses Capital LLC bought a new position in shares of Okta during the second quarter valued at about $47,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Trading Down 1.9 %

OKTA stock opened at $76.93 on Friday. 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 one year low of $66.69 and a one year high of $114.50. The firm has a 50 day simple moving average of $74.50 and a two-hundred day simple moving average of $86.36.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.29. The business had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $632.24 million. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. On average, sell-side analysts anticipate that Okta, Inc. will post 0.19 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Citigroup dropped 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. DA Davidson dropped their price target on shares of Okta from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. The Goldman Sachs Group lowered their price objective on shares of Okta from $113.00 to $97.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Bank of America lowered shares of Okta from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $135.00 to $75.00 in a research report on Thursday, August 29th. Finally, BTIG Research lowered their price objective on shares of Okta from $128.00 to $98.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Okta presently has an average rating of “Hold” and a consensus target price of $98.90.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 2,790 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.01, for a total transaction of $206,487.90. Following the completion of the sale, the insider now directly owns 27,713 shares in the company, valued at $2,051,039.13. This represents a 9.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Todd Mckinnon sold 224,533 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $74.62, for a total transaction of $16,754,652.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 475,789 shares of company stock worth $35,701,361. 7.00% of the stock is currently owned by insiders.

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.