Petrus Trust Company LTA Grows Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Petrus Trust Company LTA grew its position in shares of Okta, Inc. (NASDAQ:OKTA) by 40.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,240 shares of the company’s stock after purchasing an additional 2,944 shares during the quarter. Petrus Trust Company LTA’s holdings in Okta were worth $761,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in Okta in the third quarter worth approximately $25,000. EverSource Wealth Advisors LLC boosted its stake 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 in the last quarter. Future Financial Wealth Managment LLC purchased a new position in Okta in the 3rd quarter worth $26,000. Blue Trust Inc. increased its holdings in shares of Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after buying an additional 191 shares during the period. Finally, First Command Advisory Services Inc. purchased a new stake in Okta during the 2nd quarter valued at about $47,000. 86.64% of the stock is currently owned by institutional investors.

Insider Transactions at Okta

In related news, CRO Jonathan James Addison sold 9,850 shares of Okta stock in a transaction on Monday, October 14th. The stock was sold at an average price of $77.63, for a total value of $764,655.50. Following the completion of the sale, the executive now owns 14,601 shares of the company’s stock, valued at $1,133,475.63. The trade was a 40.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Larissa Schwartz sold 2,791 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $71.50, for a total value of $199,556.50. Following the completion of the transaction, the insider now directly owns 22,125 shares in the company, valued at approximately $1,581,937.50. This represents a 11.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 475,789 shares of company stock worth $35,701,361. Corporate insiders own 7.00% of the company’s stock.

Okta Stock Performance

Shares of Okta stock opened at $81.71 on Wednesday. The stock has a market cap of $13.88 billion, a price-to-earnings ratio of -97.27, a PEG ratio of 19.79 and a beta of 1.00. 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 1 year low of $70.56 and a 1 year high of $114.50. The firm’s 50-day moving average is $75.15 and its 200 day moving average is $84.27.

Analyst Upgrades and Downgrades

OKTA has been the subject of several recent research reports. BMO Capital Markets boosted their price objective on Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a research report on Wednesday. Citigroup lowered their price target on shares of Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Wells Fargo & Company cut their price target on shares of Okta from $90.00 to $80.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Needham & Company LLC upped their price objective on shares of Okta from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. cut their target price on Okta from $105.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday, November 29th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $101.76.

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.