Okta, Inc. (NASDAQ:OKTA) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 29.5% in the 4th quarter, according to its most recent filing with the SEC. 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 hedge funds and other institutional investors have also recently modified their holdings of OKTA. Itau Unibanco Holding S.A. purchased a new stake in Okta during the third quarter worth $25,000. Bank of Jackson Hole Trust bought a new position in shares of Okta in the 4th quarter worth $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Okta during the 3rd quarter worth $32,000. Modus Advisors LLC purchased a new position in Okta in the fourth quarter valued at about $44,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Okta in the fourth quarter worth about $44,000. 86.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Larissa Schwartz sold 11,552 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the transaction, the insider now owns 22,125 shares in the company, valued at $2,524,241.25. This represents a 34.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jacques Frederic Kerrest sold 3,306 shares of the firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total transaction of $293,738.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 761,197 shares of company stock worth $70,662,533. 7.00% of the stock is owned by corporate insiders.

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Wall Street Analyst Weigh In

OKTA has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of Okta from $100.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Jefferies Financial Group lifted their price target on shares of Okta from $90.00 to $110.00 and gave the stock a "hold" rating in a report on Tuesday, March 4th. Robert W. Baird increased their price objective on Okta from $115.00 to $130.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Piper Sandler boosted their target price on Okta from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. Finally, Mizuho upgraded Okta from a "neutral" rating to an "outperform" rating and increased their price target for the company from $110.00 to $127.00 in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Okta presently has an average rating of "Moderate Buy" and an average target price of $116.09.

Okta Price Performance

Shares of NASDAQ:OKTA traded down $5.11 during trading on Thursday, reaching $100.27. 3,258,810 shares of the company's stock traded hands, compared to its average volume of 2,449,149. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $118.07. The company has a 50-day simple moving average of $101.33 and a 200-day simple moving average of $86.45. The firm has a market cap of $17.41 billion, a PE ratio of -286.49, a P/E/G ratio of 6.42 and a beta of 1.06.

Okta 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.