Oppenheimer & Co. Inc. Lowers Holdings in Okta, Inc. (NASDAQ:OKTA)

Oppenheimer & Co. Inc. reduced its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 59.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,953 shares of the company's stock after selling 7,233 shares during the period. Oppenheimer & Co. Inc.'s holdings in Okta were worth $368,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Caprock Group LLC lifted its position in Okta by 4.7% during the 2nd quarter. Caprock Group LLC now owns 2,856 shares of the company's stock worth $267,000 after acquiring an additional 129 shares during the last quarter. National Bank of Canada FI grew its holdings in Okta by 11.0% in the 2nd quarter. National Bank of Canada FI now owns 1,315 shares of the company's stock valued at $124,000 after buying an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Okta by 71.4% in 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. CWM LLC lifted its holdings in shares of Okta by 5.3% during the second quarter. CWM LLC now owns 2,910 shares of the company's stock worth $272,000 after buying an additional 147 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its position in shares of Okta by 4.6% in the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company's stock valued at $306,000 after acquiring an additional 182 shares during the period. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Price Performance

Shares of OKTA stock traded up $1.54 during trading on Friday, hitting $76.99. The company had a trading volume of 2,867,198 shares, compared to its average volume of 1,947,775. The firm has a market capitalization of $13.08 billion, a P/E ratio of -90.94, a price-to-earnings-growth ratio of 18.24 and a beta of 1.02. Okta, Inc. has a one year low of $66.69 and a one year high of $114.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. The stock's 50-day moving average price is $74.67 and its 200 day moving average price is $85.65.

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 the consensus estimate of ($0.08) by $0.29. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. The business had revenue of $646.00 million for the quarter, compared to analyst estimates of $632.24 million. Equities analysts expect that Okta, Inc. will post 0.19 EPS for the current fiscal year.

Insider Transactions at Okta

In related news, CEO Todd Mckinnon sold 224,533 shares of the company's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $74.62, for a total value of $16,754,652.46. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 2,791 shares of the firm's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $71.50, for a total value of $199,556.50. Following the transaction, the insider now owns 22,125 shares of the company's stock, valued at $1,581,937.50. The trade was a 11.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 475,789 shares of company stock valued at $35,701,361 over the last three months. Company insiders own 7.00% of the company's stock.

Analysts Set New Price Targets

OKTA has been the subject of several research analyst reports. BMO Capital Markets upped their target price on shares of Okta from $100.00 to $103.00 and gave the company a "market perform" rating in a research note on Thursday, August 29th. Needham & Company LLC started coverage on Okta in a research report on Thursday, October 17th. They issued a "buy" rating and a $100.00 target price for the company. Susquehanna decreased their price target on shares of Okta from $110.00 to $85.00 and set a "neutral" rating on the stock in a research note on Thursday, September 5th. Stifel Nicolaus dropped their price objective on shares of Okta from $122.00 to $108.00 and set a "buy" rating for the company in a research note on Thursday, August 29th. Finally, Truist Financial decreased their target price on shares of Okta from $95.00 to $80.00 and set a "hold" rating on the stock in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, Okta presently has a consensus rating of "Hold" and an average target price of $98.30.

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.