Empowered Funds LLC increased its position in shares of Okta, Inc. (NASDAQ:OKTA – Free Report) by 7.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The company owned 4,633 shares of the company after acquiring an additional 339 shares during the period. Empowered Funds LLC’s stock in Okta was worth $485,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company recently. Vanguard Group Inc. increased its holdings in Okta by 2.9% in 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 period. Sands Capital Management LLC increased its stake in Okta shares by 42.3% in the fourth quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company’s stock worth $756,687,000 after acquiring an additional 2,486,456 shares during the period. First Trust Advisors LP increased its stake in Okta shares by 28.1% in the fourth quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock worth $369,854,000 after purchasing an additional 897,216 shares during the period. Cerity Partners LLC increased its stake in shares of Okta by 6,192.3% in the fourth quarter. Cerity Partners LLC now owns 3,172,223 shares of the company’s stock worth $287,181,000 after purchasing an additional 3,121,809 shares during the period. Finally, Eminence Capital LP increased its stake in shares of Okta by 19.4% in the fourth quarter. Eminence Capital LP now owns 1,910,621 shares of the company’s stock worth $172,969,000 after purchasing an additional 310,918 shares during the period. Institutional investors own 86.64% of the company’s stock.

Okta Price Performance

NASDAQ OKTA opened Friday at $94.03. Okta, Inc. has a 12-month low of $65.04 and a 12-month high of $114.50. The stock has a 50-day simple moving average of $93.42 and a 200-day simple moving average of $93.63. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.73 and a current ratio of 1.73.

Okta (NASDAQ:OKTA – Get Free Report) last released its quarterly earnings results on Wednesday, May 29. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.27. The company had revenue of $617.00 million for 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%. As a group, analysts predict that Okta, Inc. will post -0.28 EPS for the current fiscal year.

Wall Street analysts weigh in

Several equities research analysts have recently issued reports on the company. Wedbush reiterated an “outperform” rating and gave a $130.00 price target on shares of Okta in a research note on Wednesday, May 29th. BMO Capital Markets lowered their price target on Okta from $110.00 to $100.00 and set a “market perform” rating on the company in a research note on Monday, June 3rd. JPMorgan Chase & Co. raised their price target on Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 price target on shares of Okta in a research note on Monday, June 17th. Finally, Mizuho raised their price objective on shares of Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $105.58.

Read our latest report on Okta

Insider transactions at Okta

In other news, insider Larissa Schwartz sold 2,792 shares of the company’s stock in a transaction dated Tuesday, July 16. 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 owns 29,809 shares of the company’s stock, valued at approximately $2,963,014.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, available via the SEC website. In related news, insider Larissa Schwartz sold 2,792 shares of the company’s stock in a transaction dated Tuesday, July 16. The shares were sold at an average price of $99.40, for a total value of $277,524.80. Following the transaction, the insider now owns 29,809 shares of the company’s stock, valued at approximately $2,963,014.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jacques Frederic Kerrest sold 1,552 shares of the company’s stock in a transaction dated Thursday, June 20. The shares were sold at an average price of $86.99, for a total transaction of $135,008.48. The disclosure for this sale can be found here. Insiders have sold 89,840 shares of the company’s stock worth $8,566,381 in the last 90 days. 7.00% of the shares are currently held by corporate insiders.

Okta Profile

(Free Report)

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, including Single Sign-On, which enables users to access applications in the cloud or on-premises from multiple devices; Adaptive Multi-Factor Authentication, which provides a layer of security across cloud, mobile, web applications and data; API Access Management, which enables organizations to secure APIs; Access Gateway, which enables organizations to extend Workforce Identity Cloud; and Okta Device Access, which enables end users to securely log in to devices with Okta credentials.

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