Okta, Inc. (NASDAQ:OKTA) Stock Position Lowered by Ameritas Advisory Services LLC

Ameritas Advisory Services LLC lowered its position in shares of Okta, Inc. (NASDAQ:OKTA) by 2.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,020 shares of the company’s stock after selling 145 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Okta were worth $657,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of OKTA. City State Bank lifted its position in shares of Okta by 160.0% during the 1st quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after acquiring an additional 160 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Okta during the fourth quarter valued at $29,000. EverSource Wealth Advisors LLC boosted its position in shares of Okta by 71.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after purchasing an additional 142 shares during the period. Venturi Wealth Management LLC increased its stake in Okta by 50.4% in the 1st quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock worth $41,000 after purchasing an additional 131 shares in the last quarter. Finally, First Command Advisory Services Inc. acquired a new stake in Okta during the 2nd quarter worth about $47,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Okta

In other news, Director Jacques Frederic Kerrest sold 1,552 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $86.99, for a total value of $135,008.48. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Jacques Frederic Kerrest sold 1,552 shares of Okta stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $86.99, for a total transaction of $135,008.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Larissa Schwartz sold 2,792 shares of the company’s 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 directly owns 29,809 shares in the company, valued at $2,963,014.60. The disclosure for this sale can be found here. Insiders have sold 365,051 shares of company stock worth $34,411,773 over the last three months. Company insiders own 7.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OKTA. Needham & Company LLC reissued a “buy” rating and set a $130.00 target price on shares of Okta in a research note on Thursday. Citigroup dropped their target price on Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Thursday. Bank of America downgraded shares of Okta from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $135.00 to $75.00 in a research report on Thursday. Stifel Nicolaus decreased their target price on shares of Okta from $122.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Wells Fargo & Company reduced their price objective on Okta from $100.00 to $90.00 and set an “equal weight” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $104.81.

Okta Price Performance

NASDAQ OKTA traded down $1.23 on Friday, reaching $78.28. The company’s stock had a trading volume of 1,766,030 shares, compared to its average volume of 1,887,939. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.19. The firm has a market cap of $13.17 billion, a PE ratio of -47.61 and a beta of 1.03. The business has a 50-day moving average price of $93.23 and a 200 day moving average price of $95.43.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, May 29th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.27. The company had revenue of $617.00 million for the quarter, compared to analyst estimates of $604.33 million. Okta had a negative return on equity of 3.81% and a negative net margin of 11.69%. Sell-side analysts expect that Okta, Inc. will post -0.28 EPS for the current year.

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.