Lindbrook Capital LLC Boosts Holdings in Okta, Inc. (NASDAQ:OKTA)

Lindbrook Capital LLC boosted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 61.6% in the fourth quarter, HoldingsChannel reports. The fund owned 782 shares of the company’s stock after purchasing an additional 298 shares during the quarter. Lindbrook Capital LLC’s holdings in Okta were worth $71,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. purchased a new stake in Okta during the third quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Okta in the third quarter worth $39,000. UMB Bank n.a. raised its holdings in shares of Okta by 150.5% in the fourth quarter. UMB Bank n.a. now owns 749 shares of the company’s stock worth $68,000 after buying an additional 450 shares during the last quarter. Quintet Private Bank Europe S.A. purchased a new position in shares of Okta in the third quarter worth $64,000. Finally, Tucker Asset Management LLC purchased a new position in shares of Okta in the third quarter worth $65,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analyst Ratings Changes

OKTA has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a $95.00 price target (up previously from $85.00) on shares of Okta in a report on Friday, January 5th. The Goldman Sachs Group raised their target price on shares of Okta from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Oppenheimer raised their target price on shares of Okta from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Robert W. Baird raised their target price on shares of Okta from $90.00 to $108.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Finally, Westpark Capital raised shares of Okta from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a report on Thursday, February 29th. Twenty equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Okta has a consensus rating of “Hold” and a consensus price target of $100.39.

Insiders Place Their Bets

In other Okta news, CAO Shibu Ninan sold 2,500 shares of Okta stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $90.23, for a total transaction of $225,575.00. Following the transaction, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at $590,013.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Okta news, CAO Shibu Ninan sold 2,500 shares of Okta stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $90.23, for a total transaction of $225,575.00. Following the transaction, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at $590,013.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shellye L. Archambeau sold 5,000 shares of Okta stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the transaction, the director now directly owns 6,042 shares in the company, valued at $646,252.32. The disclosure for this sale can be found here. Insiders have sold 11,779 shares of company stock valued at $1,205,990 over the last ninety days. Company insiders own 7.36% of the company’s stock.

Okta Stock Performance

OKTA opened at $93.76 on Thursday. The firm has a market capitalization of $15.70 billion, a PE ratio of -43.21 and a beta of 1.00. Okta, Inc. has a twelve month low of $65.04 and a twelve month high of $114.50. The firm’s 50-day moving average price is $99.45 and its 200 day moving average price is $86.20. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20.

Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, February 28th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.35. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. The company had revenue of $605.00 million for the quarter, compared to the consensus estimate of $586.25 million. As a group, sell-side analysts expect that Okta, Inc. will post -1.51 EPS for the current fiscal year.

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.