Okta, Inc. (NASDAQ:OKTA) Shares Sold by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. reduced its stake in Okta, Inc. (NASDAQ:OKTA) by 50.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,268 shares of the company’s stock after selling 23,537 shares during the period. Lecap Asset Management Ltd.’s holdings in Okta were worth $1,834,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in Okta in the 3rd quarter valued at about $25,000. Future Financial Wealth Managment LLC purchased a new position in Okta in the 3rd quarter valued at about $26,000. Blue Trust Inc. boosted its position in Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after buying an additional 191 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in Okta in the 3rd quarter valued at about $32,000. Finally, Modus Advisors LLC purchased a new position in Okta in the 4th quarter valued at about $44,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Okta

In related news, CFO Brett Tighe sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total transaction of $445,000.00. Following the transaction, the chief financial officer now owns 112,533 shares in the company, valued at $10,015,437. This trade represents a 4.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the transaction, the director now owns 1,622 shares in the company, valued at $130,862.96. This represents a 98.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 913,168 shares of company stock worth $78,420,769. 7.00% of the stock is owned by company insiders.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $97.47 on Friday. The firm’s 50 day moving average is $85.60 and its two-hundred day moving average is $82.19. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $114.50. The firm has a market capitalization of $16.70 billion, a P/E ratio of -278.49, a PEG ratio of 9.52 and a beta of 1.03. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.

Analyst Ratings Changes

A number of equities analysts have weighed in on OKTA shares. KeyCorp raised shares of Okta from a “sector weight” rating to an “overweight” rating and set a $115.00 price objective for the company in a research report on Thursday, December 19th. Jefferies Financial Group decreased their price objective on shares of Okta from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Guggenheim reaffirmed a “buy” rating and set a $130.00 price target on shares of Okta in a research report on Wednesday, December 4th. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. Finally, Truist Financial reaffirmed a “hold” rating and set a $92.00 price target (up previously from $80.00) on shares of Okta in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $104.55.

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.