Kingswood Wealth Advisors LLC Purchases 463 Shares of Okta, Inc. (NASDAQ:OKTA)

Kingswood Wealth Advisors LLC raised its position in shares of Okta, Inc. (NASDAQ:OKTA) by 17.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,193 shares of the company’s stock after purchasing an additional 463 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Okta were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its holdings in Okta by 22.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 23,971 shares of the company’s stock valued at $2,170,000 after purchasing an additional 4,404 shares during the period. Rockline Wealth Management LLC purchased a new stake in Okta during the fourth quarter valued at about $457,000. TrueMark Investments LLC purchased a new stake in Okta during the fourth quarter valued at about $1,324,000. Baker Tilly Wealth Management LLC purchased a new stake in Okta during the fourth quarter valued at about $203,000. Finally, Creative Financial Designs Inc. ADV raised its position in Okta by 7.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,926 shares of the company’s stock valued at $174,000 after purchasing an additional 138 shares in the last quarter. 86.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OKTA. Evercore ISI raised their price target on Okta from $70.00 to $102.00 and gave the company an “in-line” rating in a research report on Thursday, February 29th. Canaccord Genuity Group lifted their price objective on Okta from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Thursday, February 29th. Scotiabank downgraded Okta from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $74.00 to $70.00 in a report on Thursday, November 30th. Morgan Stanley decreased their price objective on Okta from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Thursday, November 30th. Finally, BMO Capital Markets lifted their price objective on Okta from $80.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, February 29th. Twenty investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Okta currently has an average rating of “Hold” and an average target price of $100.39.

Okta Stock Performance

Shares of OKTA opened at $104.62 on Friday. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average price is $94.28 and its 200-day moving average price is $84.07. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50. The stock has a market cap of $17.51 billion, a P/E ratio of -48.21 and a beta of 1.00.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.35. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. The company had revenue of $605.00 million for the quarter, compared to analyst estimates of $586.25 million. Equities research analysts anticipate that Okta, Inc. will post -1.51 earnings per share for the current fiscal year.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 872 shares of Okta stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $82.83, for a total transaction of $72,227.76. Following the transaction, the insider now directly owns 22,125 shares of the company’s stock, valued at $1,832,613.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Okta news, CAO Shibu Ninan sold 4,279 shares of Okta stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total value of $445,615.06. Following the transaction, the chief accounting officer now directly owns 4,111 shares of the company’s stock, valued at $428,119.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larissa Schwartz sold 872 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $82.83, for a total transaction of $72,227.76. Following the sale, the insider now directly owns 22,125 shares in the company, valued at $1,832,613.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,651 shares of company stock valued at $1,278,218. 7.36% of the stock is currently owned by company insiders.

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.