Okta, Inc. (NASDAQ:OKTA) Shares Bought by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC boosted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 9.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,982 shares of the company’s stock after buying an additional 510 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in Okta were worth $445,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OKTA. EverSource Wealth Advisors LLC lifted its holdings in 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 purchasing an additional 142 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in Okta during the third quarter valued at $26,000. Blue Trust Inc. lifted its holdings in Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after purchasing an additional 191 shares in the last quarter. First Command Advisory Services Inc. purchased a new position in Okta during the second quarter valued at $47,000. Finally, nVerses Capital LLC purchased a new position in Okta during the second quarter valued at $47,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Up 1.5 %

Shares of OKTA stock opened at $76.57 on Monday. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. Okta, Inc. has a fifty-two week low of $66.69 and a fifty-two week high of $114.50. The firm’s 50 day moving average price is $74.72 and its two-hundred day moving average price is $85.32.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.29. The firm had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $632.24 million. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. Research analysts predict that Okta, Inc. will post 0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CRO Jonathan James Addison sold 9,850 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $77.63, for a total transaction of $764,655.50. Following the completion of the transaction, the executive now owns 14,601 shares of the company’s stock, valued at approximately $1,133,475.63. The trade was a 40.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Larissa Schwartz sold 2,790 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.01, for a total transaction 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 $2,051,039.13. The trade was 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 over the last 90 days. 7.00% of the stock is owned by company insiders.

Analyst Ratings Changes

OKTA has been the topic of several research reports. Truist Financial decreased their price target on shares of Okta from $95.00 to $80.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Piper Sandler decreased their price target on shares of Okta from $100.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. Wells Fargo & Company decreased their price target on shares of Okta from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th. Canaccord Genuity Group decreased their price target on shares of Okta from $90.00 to $82.00 and set a “hold” rating on the stock in a research note on Friday, October 18th. Finally, Citigroup decreased their price target on shares of Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Okta has an average rating of “Hold” and a consensus price target of $98.30.

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.