Private Advisor Group LLC Reduces Stock Position in Okta, Inc. (NASDAQ:OKTA)

Private Advisor Group LLC trimmed its holdings in Okta, Inc. (NASDAQ:OKTA) by 2.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 28,041 shares of the company’s stock after selling 737 shares during the quarter. Private Advisor Group LLC’s holdings in Okta were worth $2,210,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of OKTA. Blue Trust Inc. boosted its holdings 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 purchasing an additional 191 shares during the period. International Assets Investment Management LLC raised its position in shares of Okta by 3,719.2% in the third quarter. International Assets Investment Management LLC now owns 9,739 shares of the company’s stock worth $724,000 after buying an additional 9,484 shares in the last quarter. Forsta AP Fonden boosted its stake in Okta by 25.2% during the third quarter. Forsta AP Fonden now owns 52,600 shares of the company’s stock valued at $3,910,000 after buying an additional 10,600 shares during the period. J.W. Cole Advisors Inc. purchased a new position in Okta during the third quarter worth about $214,000. Finally, Asahi Life Asset Management CO. LTD. bought a new position in Okta in the 3rd quarter worth about $346,000. Institutional investors own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on OKTA shares. Jefferies Financial Group decreased their price objective on shares of Okta from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. raised shares of Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price target on the stock in a report on Monday, December 16th. BMO Capital Markets raised their price objective on shares of Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Morgan Stanley upgraded shares of Okta from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $92.00 to $97.00 in a research report on Monday, December 2nd. Finally, Stifel Nicolaus raised their price target on Okta from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Okta presently has an average rating of “Hold” and an average price target of $106.13.

Okta Stock Performance

Shares of OKTA opened at $89.34 on Wednesday. The company has a 50-day simple moving average of $88.84 and a two-hundred day simple moving average of $82.52. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $15.31 billion, a PE ratio of -255.26, a price-to-earnings-growth ratio of 6.42 and a beta of 1.03. Okta, Inc. has a one year low of $70.56 and a one year high of $114.50.

Insider Transactions at Okta

In related news, CFO Brett Tighe sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total transaction of $445,000.00. Following the sale, the chief financial officer now owns 112,533 shares of the company’s stock, valued at $10,015,437. The trade was a 4.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Larissa Schwartz sold 2,704 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $80.50, for a total value of $217,672.00. Following the transaction, the insider now directly owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 980,908 shares of company stock valued at $85,025,665. Corporate insiders own 7.00% of the company’s stock.

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.