Townsquare Capital LLC Acquires 896 Shares of Okta, Inc. (NASDAQ:OKTA)

Townsquare Capital LLC increased its holdings in Okta, Inc. (NASDAQ:OKTA) by 16.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,321 shares of the company’s stock after purchasing an additional 896 shares during the period. Townsquare Capital LLC’s holdings in Okta were worth $470,000 at the end of the most recent reporting period.

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

Insider Activity

In other Okta news, insider Larissa Schwartz sold 2,790 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.01, for a total value of $206,487.90. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd Mckinnon sold 200,512 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the completion of the transaction, the chief executive officer now directly owns 8,495 shares in the company, valued at approximately $638,908.95. The trade was a 95.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 607,215 shares of company stock valued at $46,304,810 over the last three months. 7.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on OKTA shares. Morgan Stanley raised shares of Okta from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $92.00 to $97.00 in a research report on Monday. Truist Financial reaffirmed a “hold” rating and set a $92.00 price objective (up previously from $80.00) on shares of Okta in a research report on Wednesday. The Goldman Sachs Group upped their price objective on shares of Okta from $97.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday. Piper Sandler upped their price objective on shares of Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Needham & Company LLC upped their price objective on shares of Okta from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $103.07.

Okta Price Performance

OKTA opened at $86.11 on Thursday. Okta, Inc. has a one year low of $70.56 and a one year 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. The company’s 50 day simple moving average is $75.15 and its 200-day simple moving average is $84.27. The stock has a market capitalization of $14.63 billion, a P/E ratio of -246.03, a price-to-earnings-growth ratio of 19.79 and a beta of 1.00.

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.