Stanley Laman Group Ltd. cut its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 7.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,095 shares of the company's stock after selling 4,407 shares during the quarter. Stanley Laman Group Ltd.'s holdings in Okta were worth $4,578,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Stephens Inc. AR boosted its stake in Okta by 5.0% in the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company's stock worth $260,000 after buying an additional 157 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Okta by 2.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company's stock valued at $605,000 after purchasing an additional 180 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Okta by 4.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company's stock valued at $306,000 after purchasing an additional 182 shares during the last quarter. Creative Financial Designs Inc. ADV raised its position in Okta by 12.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company's stock worth $127,000 after purchasing an additional 188 shares during the period. Finally, Blue Trust Inc. lifted its stake in Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company's stock worth $28,000 after purchasing an additional 191 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have recently commented on OKTA. Sanford C. Bernstein decreased their price objective on Okta from $129.00 to $124.00 and set an "outperform" rating on the stock in a report on Tuesday, December 17th. BMO Capital Markets lifted their price target on Okta from $103.00 to $105.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. KeyCorp increased their price objective on Okta from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft downgraded shares of Okta from a "buy" rating to a "hold" rating and decreased their target price for the stock from $115.00 to $85.00 in a research note on Tuesday, November 12th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $115.00 price target on shares of Okta in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Okta has an average rating of "Hold" and a consensus target price of $105.45.
View Our Latest Research Report on Okta
Insider Buying and Selling
In other Okta news, CEO Todd Mckinnon sold 233,028 shares of the business's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Larissa Schwartz sold 2,704 shares of the firm's stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.50, for a total value of $217,672.00. Following the transaction, the insider now owns 24,462 shares of the company's stock, valued at $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 980,908 shares of company stock worth $85,025,665 in the last 90 days. Insiders own 7.00% of the company's stock.
Okta Stock Down 4.0 %
OKTA traded down $3.97 during midday trading on Monday, reaching $96.29. The company's stock had a trading volume of 2,954,818 shares, compared to its average volume of 2,366,723. The stock's 50-day moving average is $87.42 and its 200-day moving average is $82.17. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $114.50. The firm has a market capitalization of $16.50 billion, a price-to-earnings ratio of -275.11, a PEG ratio of 6.58 and a beta of 1.03. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.
About Okta
(
Free Report)
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.
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