Brighton Jones LLC Sells 1,852 Shares of Okta, Inc. (NASDAQ:OKTA)

Brighton Jones LLC decreased its position in Okta, Inc. (NASDAQ:OKTA) by 39.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,886 shares of the company’s stock after selling 1,852 shares during the quarter. Brighton Jones LLC’s holdings in Okta were worth $261,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in OKTA. NBC Securities Inc. bought a new position in Okta during the third quarter valued at about $27,000. GAMMA Investing LLC bought a new position in Okta during the fourth quarter valued at about $29,000. Harvest Fund Management Co. Ltd bought a new position in Okta during the third quarter valued at about $39,000. UMB Bank n.a. grew its position in Okta by 150.5% during the fourth quarter. UMB Bank n.a. now owns 749 shares of the company’s stock valued at $68,000 after buying an additional 450 shares during the period. Finally, Lindbrook Capital LLC grew its position in Okta by 61.6% during the fourth quarter. Lindbrook Capital LLC now owns 782 shares of the company’s stock valued at $71,000 after buying an additional 298 shares during the period. Institutional investors own 86.64% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Susquehanna increased their price target on shares of Okta from $70.00 to $115.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Mizuho raised their price target on shares of Okta from $90.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. The Goldman Sachs Group upped their price target on shares of Okta from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Westpark Capital upgraded Okta from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research note on Thursday, February 29th. Finally, Sanford C. Bernstein lifted their price target on Okta from $84.00 to $114.00 and gave the company a “market perform” rating in a research report on Thursday, February 29th. Twenty equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $100.39.

Okta Stock Performance

Shares of NASDAQ:OKTA opened at $96.55 on Friday. The company has a market cap of $16.16 billion, a price-to-earnings ratio of -44.49 and a beta of 0.98. The company has a 50-day moving average price of $100.36 and a 200-day moving average price of $86.55. 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, Inc. has a 12 month low of $65.04 and a 12 month high of $114.50.

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

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.