Okta, Inc. (NASDAQ:OKTA) Shares Sold by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC trimmed its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 22.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,332 shares of the company’s stock after selling 672 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Okta were worth $211,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Northern Trust Corp grew its holdings in Okta by 3.0% in the 3rd quarter. Northern Trust Corp now owns 944,726 shares of the company’s stock valued at $77,005,000 after buying an additional 27,577 shares during the last quarter. RPG Investment Advisory LLC raised its position in Okta by 57.2% in the 4th quarter. RPG Investment Advisory LLC now owns 77,269 shares of the company’s stock valued at $6,995,000 after purchasing an additional 28,119 shares during the last quarter. Pearl River Capital LLC raised its position in Okta by 643.6% in the 3rd quarter. Pearl River Capital LLC now owns 41,982 shares of the company’s stock valued at $3,422,000 after purchasing an additional 36,336 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Okta by 2,721.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 176,071 shares of the company’s stock worth $15,940,000 after acquiring an additional 169,830 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of Okta during the third quarter worth $923,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Shibu Ninan sold 4,279 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total value of $445,615.06. Following the transaction, the chief accounting officer now directly owns 4,111 shares of the company’s stock, valued at approximately $428,119.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Okta news, Director Shellye L. Archambeau sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the completion of the sale, the director now directly owns 6,042 shares of the company’s stock, valued at approximately $646,252.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Shibu Ninan sold 4,279 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total value of $445,615.06. Following the completion of the transaction, the chief accounting officer now directly owns 4,111 shares of the company’s stock, valued at $428,119.54. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by corporate insiders.

Okta Price Performance

Okta stock traded down $1.58 during mid-day trading on Friday, reaching $97.16. 1,432,494 shares of the company were exchanged, compared to its average volume of 1,231,753. The company has a fifty day simple moving average of $99.19 and a 200-day simple moving average of $89.45. Okta, Inc. has a 12 month low of $65.04 and a 12 month high of $114.50. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.67 and a quick ratio of 1.67. The firm has a market cap of $16.26 billion, a PE ratio of -44.77 and a beta of 0.98.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.35. Okta had a negative return on equity of 5.69% and a negative net margin of 15.69%. The company had revenue of $605.00 million for the quarter, compared to analyst estimates of $586.25 million. As a group, equities research analysts expect that Okta, Inc. will post -1.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Mizuho increased their target price on Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, May 17th. BMO Capital Markets increased their price objective on Okta from $80.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, February 29th. Royal Bank of Canada increased their price target on Okta from $95.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. The Goldman Sachs Group increased their price target on Okta from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Finally, Piper Sandler increased their price target on Okta from $85.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Twenty investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $101.84.

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.