Smith Group Asset Management LLC Lowers Holdings in Okta, Inc. (NASDAQ:OKTA)

Smith Group Asset Management LLC trimmed its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 36.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 140,432 shares of the company's stock after selling 81,007 shares during the quarter. Smith Group Asset Management LLC owned 0.08% of Okta worth $10,440,000 as of its most recent filing with the SEC.

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

Insider Transactions at Okta

In other news, insider Larissa Schwartz sold 2,790 shares of Okta stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.01, for a total transaction of $206,487.90. Following the sale, the insider now directly owns 27,713 shares in the company, valued at $2,051,039.13. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Larissa Schwartz sold 2,790 shares of Okta stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.01, for a total value of $206,487.90. Following the sale, the insider now owns 27,713 shares of the company's stock, valued at approximately $2,051,039.13. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Todd Mckinnon sold 224,533 shares of the company's stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $74.62, for a total value of $16,754,652.46. The disclosure for this sale can be found here. Insiders have sold 475,793 shares of company stock worth $35,759,000 in the last 90 days. Insiders own 7.00% of the company's stock.

Okta Trading Up 0.8 %

NASDAQ OKTA traded up $0.56 during trading hours on Tuesday, hitting $73.81. 1,169,783 shares of the company's stock were exchanged, compared to its average volume of 1,933,966. The firm has a market cap of $12.42 billion, a price-to-earnings ratio of -44.20, a PEG ratio of 16.72 and a beta of 1.02. The stock has a 50-day simple moving average of $77.32 and a 200 day simple moving average of $87.77. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. Okta, Inc. has a 1-year low of $65.04 and a 1-year high of $114.50.

Okta (NASDAQ:OKTA - Get Free Report) last issued its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.29. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. The company had revenue of $646.00 million for the quarter, compared to analysts' expectations of $632.24 million. On average, equities analysts forecast that Okta, Inc. will post 0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

OKTA has been the topic of several recent research reports. Mizuho lowered their price target on shares of Okta from $104.00 to $92.00 and set a "neutral" rating on the stock in a research note on Thursday, October 17th. Canaccord Genuity Group lowered their target price on Okta from $90.00 to $82.00 and set a "hold" rating on the stock in a research report on Friday, October 18th. The Goldman Sachs Group reduced their price target on Okta from $113.00 to $97.00 and set a "buy" rating for the company in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. decreased their price target on Okta from $110.00 to $105.00 and set a "neutral" rating for the company in a research note on Thursday, August 29th. Finally, Royal Bank of Canada dropped their price objective on Okta from $125.00 to $101.00 and set an "outperform" rating on the stock in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $98.96.

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.