US Bancorp DE Sells 12,935 Shares of Okta, Inc. (NASDAQ:OKTA)

US Bancorp DE reduced its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 14.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 79,238 shares of the company's stock after selling 12,935 shares during the quarter. US Bancorp DE's holdings in Okta were worth $5,891,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its position in shares of 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 buying an additional 142 shares during the period. Future Financial Wealth Managment LLC bought a new position in shares of Okta during the third quarter valued at $26,000. Blue Trust Inc. boosted its stake in shares of Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company's stock valued at $28,000 after purchasing an additional 191 shares in the last quarter. First Command Advisory Services Inc. bought a new stake in shares of Okta in the 2nd quarter worth about $47,000. Finally, nVerses Capital LLC acquired a new stake in shares of Okta during the 2nd quarter worth about $47,000. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Stock Up 0.0 %

Shares of Okta stock traded up $0.01 on Monday, hitting $73.24. The company had a trading volume of 2,389,726 shares, compared to its average volume of 1,928,191. Okta, Inc. has a twelve month low of $65.98 and a twelve month high of $114.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. The stock has a 50-day moving average of $75.79 and a 200-day moving average of $87.31. The firm has a market capitalization of $12.44 billion, a P/E ratio of -87.19, a P/E/G ratio of 16.64 and a beta of 1.01.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.29. The firm had revenue of $646.00 million for 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%. Research analysts predict that Okta, Inc. will post 0.19 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Todd Mckinnon sold 224,533 shares of the company's stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $74.62, for a total value of $16,754,652.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Okta news, insider Larissa Schwartz sold 2,795 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $92.02, for a total transaction of $257,195.90. Following the transaction, the insider now owns 27,014 shares in the company, valued at $2,485,828.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd Mckinnon sold 224,533 shares of Okta stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $74.62, for a total transaction of $16,754,652.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 475,793 shares of company stock worth $35,759,000. Corporate insiders own 7.00% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. BTIG Research reduced their price target on shares of Okta from $128.00 to $98.00 and set a "buy" rating on the stock in a research report on Thursday, October 17th. UBS Group reduced their price objective on Okta from $120.00 to $108.00 and set a "buy" rating on the stock in a research note on Thursday, August 29th. Truist Financial lowered their target price on Okta from $95.00 to $80.00 and set a "hold" rating for the company in a research note on Thursday, October 17th. Bank of America downgraded shares of Okta from a "buy" rating to an "underperform" rating and reduced their price target for the stock from $135.00 to $75.00 in a research report on Thursday, August 29th. Finally, Susquehanna dropped their price objective on shares of Okta from $110.00 to $85.00 and set a "neutral" rating for the company in a research report on Thursday, September 5th. One research 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. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $99.39.

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.