Motley Fool Wealth Management LLC Lowers Stake in Okta, Inc. (NASDAQ:OKTA)

Motley Fool Wealth Management LLC reduced its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 13.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 79,926 shares of the company's stock after selling 11,929 shares during the quarter. Motley Fool Wealth Management LLC's holdings in Okta were worth $6,351,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of OKTA. Charles Schwab Investment Management Inc. grew its holdings in shares of Okta by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company's stock valued at $79,503,000 after buying an additional 17,950 shares during the last quarter. Eagle Asset Management Inc. boosted its position in Okta by 21.6% in the third quarter. Eagle Asset Management Inc. now owns 20,784 shares of the company's stock valued at $1,595,000 after buying an additional 3,685 shares during the last quarter. Cerity Partners LLC raised its position in Okta by 211.4% during the 3rd quarter. Cerity Partners LLC now owns 54,412 shares of the company's stock worth $4,045,000 after buying an additional 36,936 shares during the last quarter. Swedbank AB boosted its holdings in shares of Okta by 0.8% in the 3rd quarter. Swedbank AB now owns 80,011 shares of the company's stock valued at $5,948,000 after acquiring an additional 609 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its stake in shares of Okta by 478.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 27,215 shares of the company's stock worth $2,023,000 after acquiring an additional 22,507 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

OKTA has been the topic of several recent research reports. Sanford C. Bernstein lowered their price target on shares of Okta from $129.00 to $124.00 and set an "outperform" rating on the stock in a report on Tuesday, December 17th. Royal Bank of Canada raised their target price on Okta from $115.00 to $120.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. KeyCorp boosted their price target on Okta from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Mizuho raised shares of Okta from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $110.00 to $127.00 in a research note on Tuesday, March 4th. Finally, Scotiabank upped their price objective on shares of Okta from $94.00 to $109.00 and gave the stock a "sector perform" rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.29.

Okta Stock Down 2.9 %

Shares of Okta stock traded down $3.21 on Friday, reaching $107.99. 2,872,591 shares of the company were exchanged, compared to its average volume of 2,434,121. The stock's 50 day moving average price is $100.33 and its 200-day moving average price is $85.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $118.07. The company has a market cap of $18.75 billion, a P/E ratio of -308.54, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09.

Insider Transactions at Okta

In other news, CFO Brett Tighe sold 5,000 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total value of $445,000.00. Following the completion of the transaction, the chief financial officer now owns 112,533 shares in the company, valued at approximately $10,015,437. This represents a 4.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the business's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total transaction of $33,965,100.00. The disclosure for this sale can be found here. In the last three months, insiders sold 763,901 shares of company stock valued at $70,880,205. 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.