778 Shares in Okta, Inc. (NASDAQ:OKTA) Purchased by Frazier Financial Advisors LLC

Frazier Financial Advisors LLC acquired a new position in Okta, Inc. (NASDAQ:OKTA) in the 3rd quarter, HoldingsChannel reports. The fund acquired 778 shares of the company’s stock, valued at approximately $58,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Okta by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 15,848,525 shares of the company’s stock worth $1,658,073,000 after purchasing an additional 128,906 shares during the period. Marshall Wace LLP boosted its stake in Okta by 117.4% in the 2nd quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock worth $212,841,000 after purchasing an additional 1,227,890 shares during the period. Eminence Capital LP boosted its stake in Okta by 18.1% in the 2nd quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock worth $186,225,000 after purchasing an additional 305,381 shares during the period. Primecap Management Co. CA boosted its stake in Okta by 0.8% in the 2nd quarter. Primecap Management Co. CA now owns 1,356,216 shares of the company’s stock worth $126,955,000 after purchasing an additional 10,800 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Okta by 20.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,029,753 shares of the company’s stock worth $96,388,000 after purchasing an additional 178,011 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Stock Down 4.3 %

Shares of Okta stock opened at $73.66 on Friday. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. The business’s 50 day simple moving average is $74.52 and its two-hundred day simple moving average is $86.17. Okta, Inc. has a one year low of $66.69 and a one year high of $114.50.

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

Insider Activity

In related news, insider Larissa Schwartz sold 2,790 shares of Okta stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $74.01, for a total transaction of $206,487.90. Following the sale, the insider now directly owns 27,713 shares in the company, valued at $2,051,039.13. The trade was a 9.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Jonathan James Addison sold 9,850 shares of Okta stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $77.63, for a total value of $764,655.50. Following the sale, the executive now owns 14,601 shares in the company, valued at $1,133,475.63. This represents a 40.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 475,789 shares of company stock valued at $35,701,361. Company insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wells Fargo & Company cut their target price on Okta from $90.00 to $80.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Canaccord Genuity Group cut their target price on Okta from $90.00 to $82.00 and set a “hold” rating for the company in a research note on Friday, October 18th. Scotiabank cut their target price on Okta from $104.00 to $92.00 and set a “sector perform” rating for the company in a research note on Thursday, August 29th. UBS Group dropped their price target on Okta from $120.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, Citigroup dropped their price target on Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Okta has a consensus rating of “Hold” and an average target price of $98.90.

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.