Fort Washington Investment Advisors Inc. OH Lowers Stock Position in Okta, Inc. (NASDAQ:OKTA)

Fort Washington Investment Advisors Inc. OH lessened its holdings in Okta, Inc. (NASDAQ:OKTA) by 26.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 13,954 shares of the company’s stock after selling 4,950 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Okta were worth $1,468,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Okta by 52.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company’s stock worth $956,000 after acquiring an additional 4,171 shares in the last quarter. Merit Financial Group LLC acquired a new stake in shares of Okta in the first quarter worth $823,000. SBI Securities Co. Ltd. acquired a new stake in shares of Okta in the fourth quarter worth $1,686,000. GAMMA Investing LLC grew its position in Okta by 37,287.3% during the first quarter. GAMMA Investing LLC now owns 126,369 shares of the company’s stock valued at $13,297,000 after buying an additional 126,031 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Okta by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company’s stock valued at $87,903,000 after buying an additional 46,064 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insiders Place Their Bets

In other news, insider Eric Robert Kelleher sold 5,895 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $113.75, for a total value of $670,556.25. Following the completion of the transaction, the insider now owns 9,828 shares in the company, valued at approximately $1,117,935. This represents a 37.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Jonathan James Addison sold 7,005 shares of the company’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $101.19, for a total transaction of $708,835.95. Following the completion of the transaction, the executive now owns 19,067 shares of the company’s stock, valued at approximately $1,929,389.73. The trade was a 26.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,452 shares of company stock worth $2,697,360 in the last 90 days. Corporate insiders own 5.68% of the company’s stock.

Okta Price Performance

Shares of OKTA opened at $97.48 on Friday. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $127.57. The firm’s 50 day moving average price is $109.25 and its 200 day moving average price is $98.69. The company has a market cap of $17.07 billion, a P/E ratio of -278.51, a PEG ratio of 6.42 and a beta of 0.84. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.77 by $0.09. Okta had a negative net margin of 1.54% and a positive return on equity of 0.47%. The company had revenue of $688.00 million during the quarter, compared to analysts’ expectations of $680.14 million. During the same quarter in the previous year, the business posted $0.65 EPS. The firm’s revenue was up 11.5% on a year-over-year basis. On average, research analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Canaccord Genuity Group raised their price target on shares of Okta from $100.00 to $115.00 and gave the company a “hold” rating in a research report on Wednesday, May 28th. Stifel Nicolaus lifted their target price on shares of Okta from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. The Goldman Sachs Group lifted their target price on shares of Okta from $123.00 to $137.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Truist Financial lifted their target price on shares of Okta from $92.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, March 4th. Finally, Morgan Stanley dropped their target price on shares of Okta from $125.00 to $123.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, Okta currently has an average rating of “Moderate Buy” and an average target price of $121.59.

About Okta

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.