Commonwealth Equity Services LLC Has $2.05 Million Holdings in Okta, Inc. (NASDAQ:OKTA)

Commonwealth Equity Services LLC cut its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 24.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 26,025 shares of the company's stock after selling 8,338 shares during the period. Commonwealth Equity Services LLC's holdings in Okta were worth $2,051,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of OKTA. Point72 Asset Management L.P. acquired a new stake in Okta in the third quarter worth $49,373,000. Nordea Investment Management AB grew its position in shares of Okta by 1,150.2% during the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company's stock worth $33,146,000 after acquiring an additional 382,190 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Okta by 138.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company's stock worth $43,721,000 after acquiring an additional 322,201 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Okta by 58.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 568,797 shares of the company's stock worth $44,821,000 after acquiring an additional 210,615 shares during the period. Finally, Tredje AP fonden lifted its position in Okta by 757.5% in the 4th quarter. Tredje AP fonden now owns 226,295 shares of the company's stock valued at $17,832,000 after purchasing an additional 199,906 shares during the last quarter. Institutional investors own 86.64% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have commented on OKTA shares. Needham & Company LLC restated a "buy" rating and issued a $115.00 price target on shares of Okta in a research note on Tuesday, March 4th. Citigroup raised their target price on Okta from $100.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Robert W. Baird lifted their target price on Okta from $115.00 to $130.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Westpark Capital reissued a "buy" rating and issued a $140.00 price target on shares of Okta in a research note on Friday, February 28th. Finally, Stifel Nicolaus lifted their price objective on shares of Okta from $115.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $115.75.

Okta Stock Down 2.6 %

NASDAQ:OKTA traded down $2.77 on Monday, hitting $105.22. 2,761,850 shares of the company's stock traded hands, compared to its average volume of 2,435,425. The firm has a 50-day moving average price of $100.69 and a 200-day moving average price of $86.10. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The company has a market cap of $18.27 billion, a PE ratio of -300.63, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $118.07.

Insider Buying and Selling at Okta

In other news, insider Larissa Schwartz sold 2,704 shares of the firm's stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $89.58, for a total transaction of $242,224.32. Following the completion of the sale, the insider now directly owns 23,311 shares of the company's stock, valued at $2,088,199.38. This trade represents a 10.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total value of $445,000.00. Following the sale, the chief financial officer now owns 112,533 shares of the company's stock, valued at approximately $10,015,437. This represents a 4.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 761,197 shares of company stock valued at $70,662,533 in the last quarter. Company insiders own 7.00% of the company's stock.

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.