Belpointe Asset Management LLC Buys Shares of 12,664 Okta, Inc. (NASDAQ:OKTA)

Belpointe Asset Management LLC purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 12,664 shares of the company’s stock, valued at approximately $1,185,000.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in Okta by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 15,719,619 shares of the company’s stock worth $1,423,097,000 after acquiring an additional 438,496 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in Okta by 19.5% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 3,405 shares of the company’s stock valued at $308,000 after buying an additional 556 shares during the period. Los Angeles Capital Management LLC lifted its position in Okta by 282.5% in the first quarter. Los Angeles Capital Management LLC now owns 248,658 shares of the company’s stock valued at $26,015,000 after buying an additional 183,643 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Okta by 28.6% during the first quarter. Principal Financial Group Inc. now owns 13,144 shares of the company’s stock worth $1,375,000 after buying an additional 2,925 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Okta by 639.6% during the first quarter. SG Americas Securities LLC now owns 70,895 shares of the company’s stock valued at $7,417,000 after acquiring an additional 61,309 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Trading Down 1.0 %

Shares of Okta stock opened at $75.26 on Thursday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. The company has a fifty day simple moving average of $92.36 and a 200-day simple moving average of $95.21. The stock has a market cap of $12.66 billion, a price-to-earnings ratio of -45.07 and a beta of 1.02. Okta, Inc. has a 12-month low of $65.04 and a 12-month high of $114.50.

Insider Buying and Selling at Okta

In other news, insider Larissa Schwartz sold 2,792 shares of Okta stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $99.40, for a total transaction of $277,524.80. Following the sale, the insider now owns 29,809 shares in the company, valued at $2,963,014.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Larissa Schwartz sold 2,792 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $99.40, for a total transaction of $277,524.80. Following the transaction, the insider now directly owns 29,809 shares in the company, valued at $2,963,014.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jacques Frederic Kerrest sold 18,878 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $87.19, for a total transaction of $1,645,972.82. The disclosure for this sale can be found here. Insiders sold 365,051 shares of company stock worth $34,411,773 over the last 90 days. Corporate insiders own 7.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Susquehanna lowered their price objective on shares of Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Guggenheim restated a “buy” rating and set a $130.00 price target on shares of Okta in a research note on Tuesday, June 25th. Robert W. Baird dropped their price objective on Okta from $108.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Scotiabank decreased their target price on Okta from $104.00 to $92.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 29th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $95.00 target price (down from $105.00) on shares of Okta in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Okta has a consensus rating of “Hold” and a consensus price target of $106.00.

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.