Okta, Inc. (NASDAQ:OKTA) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE cut its holdings in Okta, Inc. (NASDAQ:OKTA) by 8.2% in the 4th quarter, HoldingsChannel reports. The fund owned 2,798 shares of the company’s stock after selling 249 shares during the period. Congress Wealth Management LLC DE’s holdings in Okta were worth $216,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Frank Rimerman Advisors LLC lifted its holdings in shares of Okta by 2.4% during the 4th quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock worth $352,000 after acquiring an additional 105 shares during the period. Stephens Inc. AR raised its stake in Okta by 5.0% during the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock worth $260,000 after purchasing an additional 157 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Okta by 2.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock worth $605,000 after purchasing an additional 180 shares during the period. Great Lakes Advisors LLC boosted its holdings in shares of Okta by 2.7% in the 4th quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company’s stock valued at $557,000 after purchasing an additional 184 shares during the last quarter. Finally, CHICAGO TRUST Co NA grew its stake in shares of Okta by 6.5% during the 4th quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock valued at $246,000 after buying an additional 191 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

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 stock was sold at an average price of $89.00, for a total value of $445,000.00. Following the sale, the chief financial officer now owns 112,533 shares of the company’s stock, valued at approximately $10,015,437. This trade represents a 4.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 11,552 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total value of $1,317,967.68. Following the transaction, the insider now owns 22,125 shares of the company’s stock, valued at $2,524,241.25. This represents a 34.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 761,197 shares of company stock worth $70,662,533 over the last 90 days. Insiders own 7.00% of the company’s stock.

Wall Street Analyst Weigh In

OKTA has been the topic of several research reports. Piper Sandler increased their target price on Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Citigroup lifted their price objective on Okta from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. BTIG Research reiterated a “buy” rating on shares of Okta in a report on Tuesday, March 4th. Susquehanna raised their price target on shares of Okta from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Finally, Scotiabank lifted their price target on shares of Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, Okta presently has an average rating of “Moderate Buy” and an average target price of $115.29.

Okta Price Performance

Shares of OKTA opened at $107.99 on Monday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm has a market cap of $18.75 billion, a price-to-earnings ratio of -308.54, a PEG 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. The stock has a 50 day moving average of $100.33 and a 200-day moving average of $85.87.

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.