Commonwealth Equity Services LLC Sells 8,338 Shares of Okta, Inc. (NASDAQ:OKTA)

Commonwealth Equity Services LLC lowered its position in shares of Okta, Inc. (NASDAQ:OKTA) by 24.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,025 shares of the company’s stock after selling 8,338 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Okta were worth $2,051,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new position in shares of Okta during the 3rd quarter valued at $25,000. Bank of Jackson Hole Trust purchased a new stake in Okta in the 4th quarter worth $25,000. Legacy Investment Solutions LLC bought a new stake in Okta during the third quarter valued at about $32,000. Modus Advisors LLC purchased a new position in shares of Okta in the fourth quarter valued at about $44,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Okta in the fourth quarter worth about $44,000. 86.64% of the stock is currently owned by institutional investors.

Insider Activity at Okta

In other news, insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the sale, the insider now directly owns 24,462 shares of the company’s stock, valued at $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total transaction of $33,965,100.00. The disclosure for this sale can be found here. Insiders sold 763,901 shares of company stock worth $70,880,205 over the last three months. 7.00% of the stock is owned by corporate insiders.

Okta Stock Down 2.5 %

Shares of NASDAQ:OKTA opened at $111.20 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $99.92 and its 200 day moving average is $85.43. The stock has a market cap of $19.30 billion, a P/E ratio of -317.71, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $118.07.

Analyst Ratings Changes

OKTA has been the topic of several recent analyst reports. Stifel Nicolaus lifted their target price on Okta from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Mizuho upgraded shares of Okta from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $110.00 to $127.00 in a research report on Tuesday, March 4th. KeyCorp upped their target price on shares of Okta from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. DA Davidson upgraded shares of Okta from a “neutral” rating to a “buy” rating and lifted their price target for the company from $90.00 to $125.00 in a report on Tuesday, March 4th. Finally, Canaccord Genuity Group increased their price objective on shares of Okta from $94.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.29.

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.