4,109 Shares in Okta, Inc. (NASDAQ:OKTA) Acquired by Rakuten Securities Inc.

Rakuten Securities Inc. purchased a new position in Okta, Inc. (NASDAQ:OKTA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,109 shares of the company’s stock, valued at approximately $372,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in Okta in the third quarter worth approximately $27,000. International Assets Investment Management LLC bought a new position in Okta in the third quarter worth approximately $29,000. Harvest Fund Management Co. Ltd bought a new position in Okta in the third quarter worth approximately $39,000. First Manhattan CO. LLC. boosted its holdings in Okta by 365.5% in the first quarter. First Manhattan CO. LLC. now owns 540 shares of the company’s stock worth $47,000 after acquiring an additional 424 shares in the last quarter. Finally, Coppell Advisory Solutions LLC bought a new position in Okta in the second quarter worth approximately $46,000. Institutional investors own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

OKTA has been the topic of several recent research reports. Piper Sandler increased their price target on Okta from $85.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Susquehanna raised their target price on Okta from $70.00 to $115.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Robert W. Baird raised their target price on Okta from $90.00 to $108.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Truist Financial restated a “hold” rating and issued a $105.00 target price (up previously from $85.00) on shares of Okta in a report on Thursday, February 29th. Finally, Westpark Capital upgraded Okta from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Thursday, February 29th. Twenty equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $100.39.

Insider Activity

In other news, CAO Shibu Ninan sold 2,500 shares of Okta stock in a transaction on Friday, February 16th. The stock was sold at an average price of $90.23, for a total value of $225,575.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,539 shares in the company, valued at $590,013.97. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Shellye L. Archambeau sold 5,000 shares of Okta stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the completion of the sale, the director now owns 6,042 shares of the company’s stock, valued at $646,252.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Shibu Ninan sold 2,500 shares of Okta stock in a transaction on Friday, February 16th. The shares were sold at an average price of $90.23, for a total value of $225,575.00. Following the sale, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at approximately $590,013.97. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,779 shares of company stock worth $1,205,990. 7.36% of the stock is owned by corporate insiders.

Okta Stock Performance

NASDAQ:OKTA traded down $0.51 during trading hours on Wednesday, reaching $94.50. The stock had a trading volume of 326,888 shares, compared to its average volume of 2,006,271. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 1.67. The stock has a 50 day simple moving average of $98.49 and a 200 day simple moving average of $85.64. Okta, Inc. has a 12-month low of $65.04 and a 12-month high of $114.50. The stock has a market cap of $15.82 billion, a P/E ratio of -43.64 and a beta of 1.00.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.35. The company had revenue of $605.00 million during the quarter, compared to analysts’ expectations of $586.25 million. Okta had a negative return on equity of 5.69% and a negative net margin of 15.69%. On average, research analysts forecast that Okta, Inc. will post -1.51 EPS for the current fiscal year.

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.