Okta, Inc. (NASDAQ:OKTA) Shares Acquired by Huntington National Bank

Huntington National Bank increased its stake in Okta, Inc. (NASDAQ:OKTA) by 0.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,527 shares of the company’s stock after acquiring an additional 181 shares during the period. Huntington National Bank’s holdings in Okta were worth $5,986,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in Okta by 71.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after acquiring an additional 142 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Okta during the 3rd quarter worth $26,000. Blue Trust Inc. grew its stake in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares in the last quarter. First Command Advisory Services Inc. purchased a new position in Okta in the second quarter valued at $47,000. Finally, nVerses Capital LLC acquired a new stake in Okta in the second quarter valued at $47,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Price Performance

OKTA opened at $76.93 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. Okta, Inc. has a 12 month low of $66.69 and a 12 month high of $114.50. The business has a 50 day simple moving average of $74.50 and a 200-day simple moving average of $86.36.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.29. The company had revenue of $646.00 million during the quarter, compared to the consensus estimate of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. On average, research analysts anticipate that Okta, Inc. will post 0.19 EPS for the current year.

Insiders Place Their Bets

In other Okta news, insider Larissa Schwartz sold 2,791 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $71.50, for a total transaction of $199,556.50. Following the sale, the insider now directly owns 22,125 shares in the company, valued at approximately $1,581,937.50. The trade was a 11.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd Mckinnon sold 32,516 shares of Okta stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $76.22, for a total value of $2,478,369.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 475,789 shares of company stock worth $35,701,361. 7.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Needham & Company LLC started coverage on Okta in a research report on Thursday, October 17th. They set a “buy” rating and a $100.00 price objective for the company. Mizuho lowered their price target on Okta from $104.00 to $92.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. Jefferies Financial Group cut their price objective on shares of Okta from $100.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, September 24th. Royal Bank of Canada reduced their price objective on shares of Okta from $125.00 to $101.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Scotiabank dropped their target price on shares of Okta from $104.00 to $92.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $98.90.

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.