Sunbelt Securities Inc. Buys 277 Shares of Okta, Inc. (NASDAQ:OKTA)

Sunbelt Securities Inc. boosted its stake in Okta, Inc. (NASDAQ:OKTA – Get Rating) by 7.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,777 shares of the company’s stock after buying an additional 277 shares during the period. Sunbelt Securities Inc.’s holdings in Okta were worth $215,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of OKTA. Vanguard Group Inc. lifted its stake in shares of Okta by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 14,079,420 shares of the company’s stock valued at $800,697,000 after purchasing an additional 237,961 shares during the period. First Trust Advisors LP lifted its position in Okta by 7.6% during the third quarter. First Trust Advisors LP now owns 3,774,371 shares of the company’s stock valued at $214,648,000 after buying an additional 267,321 shares during the period. Deer Management Co. LLC boosted its holdings in shares of Okta by 10.9% during the 3rd quarter. Deer Management Co. LLC now owns 2,729,034 shares of the company’s stock valued at $155,200,000 after buying an additional 267,213 shares in the last quarter. Sands Capital Management LLC grew its position in shares of Okta by 0.9% in the 2nd quarter. Sands Capital Management LLC now owns 2,657,882 shares of the company’s stock worth $240,273,000 after buying an additional 24,150 shares during the period. Finally, Two Sigma Investments LP increased its stake in shares of Okta by 394.6% in the 3rd quarter. Two Sigma Investments LP now owns 1,674,333 shares of the company’s stock worth $95,219,000 after acquiring an additional 1,335,799 shares in the last quarter. 73.02% of the stock is owned by institutional investors.

Insider Buying and Selling at Okta

In other news, Director Jacques Frederic Kerrest sold 423 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $82.48, for a total transaction of $34,889.04. Following the transaction, the director now owns 701 shares of the company’s stock, valued at approximately $57,818.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Jacques Frederic Kerrest sold 423 shares of the firm’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $82.48, for a total value of $34,889.04. Following the completion of the sale, the director now owns 701 shares in the company, valued at approximately $57,818.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Larissa Schwartz sold 452 shares of the stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $82.48, for a total transaction of $37,280.96. Following the completion of the sale, the insider now directly owns 20,149 shares in the company, valued at $1,661,889.52. The disclosure for this sale can be found here. Insiders have sold a total of 6,383 shares of company stock worth $526,343 over the last ninety days. Company insiders own 7.60% of the company’s stock.

Analyst Upgrades and Downgrades

OKTA has been the topic of a number of recent research reports. Royal Bank of Canada upped their price objective on shares of Okta from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, March 2nd. Bank of America assumed coverage on Okta in a research report on Monday, February 13th. They set an “underperform” rating and a $64.00 price objective for the company. The Goldman Sachs Group started coverage on Okta in a report on Tuesday, February 14th. They issued a “sell” rating and a $70.00 target price on the stock. Morgan Stanley lifted their price target on Okta from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 28th. Finally, DA Davidson increased their price objective on shares of Okta from $60.00 to $80.00 in a research report on Thursday, March 2nd. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Okta currently has an average rating of “Hold” and an average target price of $85.32.

Okta Trading Down 0.6 %

Shares of OKTA stock opened at $83.83 on Friday. The company has a current ratio of 2.20, a quick ratio of 2.30 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $19.03 billion, a price-to-earnings ratio of -16.21 and a beta of 1.12. Okta, Inc. has a 12-month low of $44.12 and a 12-month high of $176.18. The stock’s 50-day moving average price is $74.71 and its 200-day moving average price is $64.62.

Okta (NASDAQ:OKTA – Get Rating) last posted its earnings results on Wednesday, March 1st. The company reported ($0.70) EPS for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.11. The firm had revenue of $510.00 million during the quarter, compared to the consensus estimate of $488.99 million. Okta had a negative return on equity of 12.53% and a negative net margin of 43.87%. Equities research analysts predict that Okta, Inc. will post -3.08 EPS for the current fiscal year.

Okta Company Profile

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Okta, Inc engages in the provision of an identity management platform for enterprises. It operates through the United States and International geographical segments. The firm’s products include single sign-on, multi-factor authentication, API access management, authentication, user management, and lifecycle management.