Truvestments Capital LLC Buys 2,270 Shares of Okta, Inc. (NASDAQ:OKTA)

Truvestments Capital LLC increased its stake in Okta, Inc. (NASDAQ:OKTA) by 1,135.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,470 shares of the company’s stock after buying an additional 2,270 shares during the quarter. Truvestments Capital LLC’s holdings in Okta were worth $258,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of OKTA. City State Bank boosted its position in Okta by 160.0% in the 1st quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after buying an additional 160 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Okta in the fourth quarter valued at approximately $29,000. Venturi Wealth Management LLC increased its holdings in Okta by 50.4% during 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 during the period. Principal Securities Inc. bought a new stake in Okta during the 4th quarter valued at $48,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Okta in the 1st quarter worth $63,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on OKTA shares. BMO Capital Markets cut their price target on Okta from $110.00 to $100.00 and set a “market perform” rating on the stock in a research note on Monday, June 3rd. UBS Group reduced their price target on shares of Okta from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Guggenheim reiterated a “buy” rating and set a $130.00 price objective on shares of Okta in a research note on Tuesday, June 25th. Evercore ISI raised shares of Okta from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $102.00 to $122.00 in a research note on Thursday, May 30th. Finally, Mizuho lifted their price target on Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, May 17th. Nineteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $105.58.

Insider Activity at Okta

In related news, insider Larissa Schwartz sold 2,792 shares of the firm’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 completion of the sale, the insider now directly owns 29,809 shares of the company’s stock, valued at approximately $2,963,014.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Larissa Schwartz sold 2,792 shares of Okta stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $99.40, for a total value of $277,524.80. Following the completion of the sale, the insider now owns 29,809 shares in the company, valued at approximately $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. Also, Director Jacques Frederic Kerrest sold 26,618 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $100.29, for a total value of $2,669,519.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 362,256 shares of company stock worth $34,154,578. Insiders own 7.00% of the company’s stock.

Okta Trading Up 0.4 %

NASDAQ:OKTA traded up $0.37 during trading hours on Friday, hitting $93.48. The company had a trading volume of 1,321,774 shares, compared to its average volume of 1,519,601. Okta, Inc. has a 1 year low of $65.04 and a 1 year 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 company has a 50-day moving average of $92.85 and a 200 day moving average of $94.05. The company has a market cap of $15.73 billion, a P/E ratio of -55.98 and a beta of 1.03.

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

Okta Company 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.