Rakuten Securities Inc. Sells 845 Shares of Okta, Inc. (NASDAQ:OKTA)

Rakuten Securities Inc. lessened its position in shares of Okta, Inc. (NASDAQ:OKTA) by 31.8% during the third quarter, HoldingsChannel.com reports. The fund owned 1,815 shares of the company’s stock after selling 845 shares during the period. Rakuten Securities Inc.’s holdings in Okta were worth $135,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Caprock Group LLC increased its holdings 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 period. National Bank of Canada FI grew its stake in Okta by 11.0% in the 2nd quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock worth $124,000 after buying an additional 130 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake 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 in the last quarter. CWM LLC grew its stake in Okta by 5.3% in the 2nd quarter. CWM LLC now owns 2,910 shares of the company’s stock worth $272,000 after buying an additional 147 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its stake in Okta by 4.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after buying an additional 182 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on OKTA shares. Bank of America cut shares of Okta from a “buy” rating to an “underperform” rating and cut their price target for the stock from $135.00 to $75.00 in a research note on Thursday, August 29th. Jefferies Financial Group cut their price target on shares of Okta from $100.00 to $85.00 and set a “hold” rating for the company in a research note on Tuesday, September 24th. DA Davidson cut their price objective on shares of Okta from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Wells Fargo & Company cut their price objective on shares of Okta from $90.00 to $80.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Finally, Piper Sandler cut their price objective on shares of Okta from $100.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $98.90.

Okta Stock Up 2.2 %

Shares of NASDAQ OKTA opened at $78.45 on Tuesday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. Okta, Inc. has a 12 month low of $66.69 and a 12 month high of $114.50. The firm has a market capitalization of $13.33 billion, a PE ratio of -93.39, a price-to-earnings-growth ratio of 17.55 and a beta of 1.02. The firm has a fifty day simple moving average of $74.35 and a two-hundred day simple moving average of $86.58.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 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 during the quarter, compared to analyst estimates of $632.24 million. Equities analysts expect that Okta, Inc. will post 0.19 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Larissa Schwartz sold 2,790 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.01, for a total value of $206,487.90. Following the completion of the transaction, the insider now directly owns 27,713 shares in the company, valued at $2,051,039.13. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Larissa Schwartz sold 2,790 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.01, for a total value of $206,487.90. Following the completion of the transaction, the insider now directly owns 27,713 shares in the company, valued at $2,051,039.13. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Jonathan James Addison sold 9,850 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $764,655.50. Following the completion of the transaction, the executive now owns 14,601 shares of the company’s stock, valued at approximately $1,133,475.63. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 475,789 shares of company stock worth $35,701,361 in the last three months. 7.00% of the stock is owned by corporate insiders.

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.