Advisors Management Group Inc. ADV Raises Holdings in Okta, Inc. (NASDAQ:OKTA)

Advisors Management Group Inc. ADV boosted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 32.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,758 shares of the company’s stock after buying an additional 2,871 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in Okta were worth $874,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Caprock Group LLC increased its stake in shares of Okta by 4.7% during the second quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock worth $267,000 after purchasing an additional 129 shares in the last quarter. National Bank of Canada FI boosted its position in Okta by 11.0% during the second quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock worth $124,000 after acquiring an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after acquiring an additional 142 shares during the last quarter. CWM LLC boosted its position in Okta by 5.3% during the second quarter. CWM LLC now owns 2,910 shares of the company’s stock worth $272,000 after acquiring an additional 147 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its position in Okta by 4.6% during the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after acquiring an additional 182 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Okta

In related news, insider Larissa Schwartz sold 2,795 shares of the 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 sale, the insider now owns 27,014 shares in the company, valued at $2,485,828.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Todd Mckinnon sold 224,533 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $74.62, for a total value of $16,754,652.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Larissa Schwartz sold 2,795 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $92.02, for a total transaction of $257,195.90. Following the completion of the sale, the insider now owns 27,014 shares of the company’s stock, valued at $2,485,828.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 478,584 shares of company stock valued at $35,958,556 in the last ninety days. Insiders own 7.00% of the company’s stock.

Wall Street Analyst Weigh In

OKTA has been the topic of a number of recent research reports. Canaccord Genuity Group lowered their price target on shares of Okta from $90.00 to $82.00 and set a “hold” rating on the stock in a research report on Friday, October 18th. BTIG Research lowered their price target 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. Susquehanna lowered 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. Stifel Nicolaus decreased their target price on shares of Okta from $122.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, The Goldman Sachs Group decreased their target price on shares of Okta from $113.00 to $97.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $99.39.

Okta Price Performance

Shares of OKTA opened at $76.61 on Thursday. Okta, Inc. has a fifty-two week low of $65.98 and a fifty-two week high of $114.50. The firm’s 50 day moving average price is $74.44 and its 200 day moving average price is $86.96. The company has a market cap of $13.01 billion, a P/E ratio of -91.20, a PEG ratio of 16.96 and a beta of 1.02. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18.

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

Okta Company 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.