Barton Investment Management Cuts Holdings in Okta, Inc. (NASDAQ:OKTA)

Barton Investment Management lowered its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 260,744 shares of the company's stock after selling 21,894 shares during the quarter. Okta accounts for 2.2% of Barton Investment Management's investment portfolio, making the stock its 8th largest holding. Barton Investment Management owned 0.15% of Okta worth $20,547,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new stake in shares of Okta in the second quarter valued at approximately $460,000. SG Americas Securities LLC boosted its position in shares of Okta by 122.3% during the 3rd quarter. SG Americas Securities LLC now owns 17,021 shares of the company's stock worth $1,265,000 after purchasing an additional 9,364 shares in the last quarter. Atomi Financial Group Inc. increased its holdings in shares of Okta by 24.9% in the 3rd quarter. Atomi Financial Group Inc. now owns 2,747 shares of the company's stock valued at $204,000 after purchasing an additional 547 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Okta in the third quarter valued at about $26,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in Okta by 333.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,300 shares of the company's stock worth $97,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Trading Down 0.5 %

Shares of NASDAQ:OKTA traded down $0.47 during mid-day trading on Friday, hitting $97.00. 1,974,505 shares of the company traded hands, compared to its average volume of 2,366,723. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $114.50. The firm's 50 day simple moving average is $85.99 and its 200 day simple moving average is $82.10.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OKTA. KeyCorp upgraded Okta from a "sector weight" rating to an "overweight" rating and set a $115.00 price target on the stock in a report on Thursday, December 19th. Stifel Nicolaus raised their target price on shares of Okta from $108.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Robert W. Baird lifted their target price on shares of Okta from $105.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 17th. BMO Capital Markets increased their price target on shares of Okta from $103.00 to $105.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Finally, Canaccord Genuity Group upped their target price on Okta from $82.00 to $94.00 and gave the company a "hold" rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Okta presently has an average rating of "Hold" and a consensus price target of $104.55.

Insider Transactions at Okta

In other Okta news, CFO Brett Tighe sold 5,000 shares of the firm's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $94.76, for a total transaction of $473,800.00. Following the completion of the transaction, the chief financial officer now directly owns 97,533 shares of the company's stock, valued at $9,242,227.08. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jacques Frederic Kerrest sold 65,000 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $97.50, for a total transaction of $6,337,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 978,168 shares of company stock valued at $84,758,269. Corporate 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.