Thrivent Financial for Lutherans Sells 5,542 Shares of Okta, Inc. (NASDAQ:OKTA)

Thrivent Financial for Lutherans cut its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 29.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,230 shares of the company's stock after selling 5,542 shares during the period. Thrivent Financial for Lutherans' holdings in Okta were worth $1,042,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of OKTA. Itau Unibanco Holding S.A. purchased a new position in Okta in the 3rd quarter worth about $25,000. Bank of Jackson Hole Trust purchased a new position in shares of Okta in the fourth quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Okta during the third quarter valued at approximately $32,000. Modus Advisors LLC purchased a new stake in shares of Okta in the 4th quarter valued at approximately $44,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Okta in the 4th quarter worth approximately $44,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. BTIG Research restated a "buy" rating on shares of Okta in a report on Tuesday, March 4th. Barclays increased their price objective on Okta from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Scotiabank lifted their target price on Okta from $94.00 to $109.00 and gave the company a "sector perform" rating in a research note on Tuesday, March 4th. Cantor Fitzgerald initiated coverage on shares of Okta in a research report on Monday, March 31st. They issued an "overweight" rating and a $130.00 price target for the company. Finally, Sanford C. Bernstein decreased their price target on shares of Okta from $129.00 to $124.00 and set an "outperform" rating for the company in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Okta has a consensus rating of "Moderate Buy" and a consensus price target of $116.09.

Insiders Place Their Bets

In other news, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $89.58, for a total transaction of $242,224.32. Following the sale, the insider now directly owns 23,311 shares in the company, valued at approximately $2,088,199.38. The trade was a 10.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Robert Kelleher sold 5,895 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $113.75, for a total value of $670,556.25. Following the completion of the sale, the insider now owns 9,828 shares in the company, valued at approximately $1,117,935. This represents a 37.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 761,197 shares of company stock worth $70,662,533. 7.00% of the stock is currently owned by company insiders.

Okta Stock Performance

OKTA stock traded down $8.34 on Friday, reaching $91.93. 7,543,540 shares of the company were exchanged, compared to its average volume of 2,476,128. The stock's fifty day moving average price is $101.64 and its 200 day moving average price is $86.84. The firm has a market capitalization of $15.96 billion, a PE ratio of -262.66, a PEG ratio of 6.42 and a beta of 1.06. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $118.07.

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.