Motley Fool Asset Management LLC Has $242,000 Stock Position in Okta, Inc. (NASDAQ:OKTA)

Motley Fool Asset Management LLC lessened its holdings in Okta, Inc. (NASDAQ:OKTA) by 8.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,668 shares of the company’s stock after selling 246 shares during the period. Motley Fool Asset Management LLC’s holdings in Okta were worth $242,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. CWM LLC lifted its holdings in shares of Okta by 6.7% in the third quarter. CWM LLC now owns 2,582 shares of the company’s stock valued at $210,000 after purchasing an additional 162 shares in the last quarter. Ballentine Partners LLC bought a new position in Okta during the 3rd quarter valued at $222,000. Slow Capital Inc. boosted its holdings in Okta by 2.5% during the 3rd quarter. Slow Capital Inc. now owns 27,598 shares of the company’s stock worth $2,250,000 after acquiring an additional 682 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Okta by 1.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 28,302 shares of the company’s stock worth $2,307,000 after acquiring an additional 333 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Okta by 8.8% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 36,000 shares of the company’s stock valued at $2,934,000 after purchasing an additional 2,900 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OKTA. Canaccord Genuity Group upped their target price on Okta from $85.00 to $95.00 and gave the company a “hold” rating in a report on Thursday, February 29th. Sanford C. Bernstein upped their price objective on Okta from $84.00 to $114.00 and gave the company a “market perform” rating in a research note on Thursday, February 29th. Jefferies Financial Group reiterated a “hold” rating and set a $95.00 target price (up from $85.00) on shares of Okta in a research note on Friday, January 5th. Evercore ISI boosted their price target on shares of Okta from $70.00 to $102.00 and gave the stock an “in-line” rating in a report on Thursday, February 29th. Finally, Susquehanna raised their price objective on shares of Okta from $70.00 to $115.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Twenty investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $100.39.

Insider Buying and Selling at Okta

In related news, CAO Shibu Ninan sold 2,500 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $90.23, for a total transaction of $225,575.00. Following the transaction, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at approximately $590,013.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Shibu Ninan sold 2,500 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $90.23, for a total value of $225,575.00. Following the completion of the sale, the chief accounting officer now owns 6,539 shares of the company’s stock, valued at approximately $590,013.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shellye L. Archambeau sold 5,000 shares of Okta stock in a transaction 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 transaction, the director now owns 6,042 shares in the company, valued at approximately $646,252.32. The disclosure for this sale can be found here. Insiders have sold 11,779 shares of company stock worth $1,205,990 over the last 90 days. Corporate insiders own 7.36% of the company’s stock.

Okta Stock Down 0.7 %

Shares of NASDAQ OKTA opened at $92.29 on Friday. The business has a 50-day moving average of $99.58 and a 200-day moving average of $86.31. The firm has a market capitalization of $15.45 billion, a price-to-earnings ratio of -42.53 and a beta of 1.00. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. Okta, Inc. has a 12 month low of $65.04 and a 12 month high of $114.50.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.35. The business had revenue of $605.00 million during the quarter, compared to analysts’ expectations of $586.25 million. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. Sell-side analysts expect that Okta, Inc. will post -1.51 earnings per share for the current fiscal year.

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.