ORG Wealth Partners LLC Makes New $1.33 Million Investment in Okta, Inc. (NASDAQ:OKTA)

ORG Wealth Partners LLC bought a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,727 shares of the company’s stock, valued at approximately $1,332,000.

Several other institutional investors have also recently made changes to their positions in OKTA. Empowered Funds LLC lifted its position in shares of Okta by 32.0% during the fourth quarter. Empowered Funds LLC now owns 7,550 shares of the company’s stock worth $595,000 after acquiring an additional 1,832 shares in the last quarter. Principal Securities Inc. lifted its position in shares of Okta by 13.8% during the fourth quarter. Principal Securities Inc. now owns 1,686 shares of the company’s stock worth $133,000 after acquiring an additional 204 shares in the last quarter. Allworth Financial LP lifted its position in shares of Okta by 25.3% during the fourth quarter. Allworth Financial LP now owns 1,616 shares of the company’s stock worth $127,000 after acquiring an additional 326 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in shares of Okta by 10.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 3,172 shares of the company’s stock worth $250,000 after acquiring an additional 299 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its position in shares of Okta by 10.7% during the fourth quarter. Sanctuary Advisors LLC now owns 12,445 shares of the company’s stock worth $981,000 after acquiring an additional 1,201 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Stock Up 0.3%

Shares of NASDAQ:OKTA opened at $99.00 on Thursday. The stock’s 50-day moving average price is $109.30 and its 200-day moving average price is $99.15. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $127.57. The stock has a market capitalization of $17.33 billion, a P/E ratio of 157.15, a price-to-earnings-growth ratio of 4.77 and a beta of 0.84. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.05.

Okta (NASDAQ:OKTA) last posted its earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. The company had revenue of $688.00 million during the quarter, compared to analyst estimates of $680.14 million. Okta had a net margin of 4.85% and a return on equity of 2.79%. Okta’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share. On average, equities analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current year.

Insider Transactions at Okta

In other Okta news, CRO Jonathan James Addison sold 7,005 shares of the firm’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $101.19, for a total value of $708,835.95. Following the completion of the sale, the executive now directly owns 19,067 shares in the company, valued at $1,929,389.73. This trade represents a 26.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 5.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on OKTA shares. JMP Securities restated a “market perform” rating on shares of Okta in a research report on Wednesday, May 28th. Stephens reiterated an “equal weight” rating and issued a $127.00 price objective on shares of Okta in a research report on Tuesday, May 27th. The Goldman Sachs Group increased their price objective on Okta from $123.00 to $137.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. DA Davidson lowered their price objective on Okta from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, May 28th. Finally, Canaccord Genuity Group increased their price objective on Okta from $100.00 to $115.00 and gave the stock a “hold” rating in a research report on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.59.

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.