Insight Holdings Group LLC Has $14.45 Million Stake in Okta, Inc. (NASDAQ:OKTA)

Insight Holdings Group LLC lowered its holdings in Okta, Inc. (NASDAQ:OKTA) by 12.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 159,650 shares of the company’s stock after selling 23,050 shares during the quarter. Okta comprises approximately 0.3% of Insight Holdings Group LLC’s investment portfolio, making the stock its 20th largest holding. Insight Holdings Group LLC owned about 0.10% of Okta worth $14,453,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. NBC Securities Inc. acquired a new position in shares of Okta during the third quarter valued at about $27,000. GAMMA Investing LLC bought a new position in shares of Okta in the fourth quarter valued at approximately $29,000. Harvest Fund Management Co. Ltd bought a new position in shares of Okta in the third quarter valued at approximately $39,000. Principal Securities Inc. bought a new stake in Okta during the fourth quarter worth $48,000. Finally, UMB Bank n.a. raised its position in Okta by 150.5% in the 4th quarter. UMB Bank n.a. now owns 749 shares of the company’s stock valued at $68,000 after buying an additional 450 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

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 traded hands, compared to its average volume of 1,231,753. Okta, Inc. has a 52-week low of $65.04 and a 52-week 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 company has a market capitalization of $16.26 billion, a P/E ratio of -44.77 and a beta of 0.98. The company has a fifty day moving average price of $99.19 and a 200-day moving average price of $89.59.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.14) EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $586.25 million. As a group, analysts anticipate that Okta, Inc. will post -1.51 earnings per share for the current year.

Insider Transactions at Okta

In related news, CAO Shibu Ninan sold 4,279 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total value of $445,615.06. Following the completion of the sale, the chief accounting officer now owns 4,111 shares in the company, valued at approximately $428,119.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Shibu Ninan sold 4,279 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total value of $445,615.06. Following the completion of the sale, the chief accounting officer now owns 4,111 shares in the company, valued at approximately $428,119.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $534,800.00. Following the completion of the sale, the director now owns 6,042 shares of the company’s stock, valued at approximately $646,252.32. The disclosure for this sale can be found here. 7.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Sanford C. Bernstein lifted their price objective on shares of Okta from $84.00 to $114.00 and gave the stock a “market perform” rating in a report on Thursday, February 29th. Royal Bank of Canada upped their target price on Okta from $95.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Westpark Capital raised Okta from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Thursday, February 29th. Susquehanna boosted their price objective on Okta from $70.00 to $115.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Finally, Canaccord Genuity Group raised their target price on Okta from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Thursday, February 29th. Twenty analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Okta currently has an average rating of “Hold” and an average target price of $101.84.

Okta 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.