Frazier Financial Advisors LLC Buys Shares of 778 Okta, Inc. (NASDAQ:OKTA)

Frazier Financial Advisors LLC bought a new stake in Okta, Inc. (NASDAQ:OKTA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 778 shares of the company’s stock, valued at approximately $58,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in shares of 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 purchasing an additional 142 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Okta during the third quarter worth about $26,000. Blue Trust Inc. grew its holdings in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares during the last quarter. First Command Advisory Services Inc. bought a new stake in shares of Okta during the second quarter worth about $47,000. Finally, nVerses Capital LLC bought a new stake in shares of Okta during the second quarter worth about $47,000. Institutional investors own 86.64% of the company’s stock.

Insider Activity

In other news, CRO Jonathan James Addison sold 9,850 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $764,655.50. Following the completion of the sale, the executive now directly owns 14,601 shares of the company’s stock, valued at $1,133,475.63. This trade represents a 40.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Larissa Schwartz sold 2,790 shares of Okta stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.01, for a total value of $206,487.90. Following the completion of the sale, the insider now directly owns 27,713 shares of the company’s stock, valued at approximately $2,051,039.13. This trade represents a 9.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 475,789 shares of company stock valued at $35,701,361 in the last ninety days. 7.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on OKTA shares. Piper Sandler cut their price objective on Okta from $100.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. Susquehanna cut their price objective on Okta from $110.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Stifel Nicolaus cut their price objective on Okta from $122.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Needham & Company LLC started coverage on Okta in a research note on Thursday, October 17th. They issued a “buy” rating and a $100.00 price objective on the stock. Finally, DA Davidson cut their price objective on Okta from $85.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Okta has an average rating of “Hold” and a consensus price target of $98.90.

Okta Price Performance

NASDAQ OKTA opened at $73.66 on Friday. The business has a fifty day simple moving average of $74.52 and a 200 day simple moving average of $86.17. Okta, Inc. has a 12 month low of $66.69 and a 12 month high of $114.50. 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 (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $646.00 million during the quarter, compared to analyst estimates of $632.24 million. As a group, equities research analysts expect 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.