Moody National Bank Trust Division Lowers Holdings in Okta, Inc. (NASDAQ:OKTA)

Moody National Bank Trust Division decreased its stake in Okta, Inc. (NASDAQ:OKTAGet Rating) by 18.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,451 shares of the company’s stock after selling 2,132 shares during the quarter. Moody National Bank Trust Division’s holdings in Okta were worth $1,426,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of OKTA. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in Okta by 5.7% during the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,120 shares of the company’s stock worth $251,000 after purchasing an additional 60 shares in the last quarter. Diamant Asset Management Inc. boosted its position in Okta by 2.6% during the fourth quarter. Diamant Asset Management Inc. now owns 2,350 shares of the company’s stock worth $527,000 after purchasing an additional 60 shares in the last quarter. Financial Consulate Inc. raised its holdings in shares of Okta by 7.0% during the fourth quarter. Financial Consulate Inc. now owns 990 shares of the company’s stock valued at $222,000 after acquiring an additional 65 shares during the last quarter. Veriti Management LLC raised its holdings in shares of Okta by 5.4% during the fourth quarter. Veriti Management LLC now owns 1,296 shares of the company’s stock valued at $291,000 after acquiring an additional 66 shares during the last quarter. Finally, Personal CFO Solutions LLC raised its holdings in shares of Okta by 7.4% during the third quarter. Personal CFO Solutions LLC now owns 991 shares of the company’s stock valued at $235,000 after acquiring an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 76.18% of the company’s stock.

OKTA has been the subject of a number of research analyst reports. BMO Capital Markets increased their target price on Okta from $108.00 to $125.00 in a report on Friday, June 3rd. Mizuho reduced their target price on Okta from $225.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, May 18th. Stifel Nicolaus reduced their target price on Okta from $195.00 to $115.00 in a report on Friday, June 3rd. BTIG Research reduced their target price on Okta from $216.00 to $152.00 and set a “buy” rating for the company in a report on Friday, June 3rd. Finally, DA Davidson increased their target price on Okta from $125.00 to $140.00 and gave the company a “buy” rating in a report on Friday, June 3rd. Seven analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, Okta has an average rating of “Moderate Buy” and an average target price of $180.70.

In other news, CAO Christopher K. Kramer sold 831 shares of the stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $79.97, for a total transaction of $66,455.07. Following the sale, the chief accounting officer now owns 14,316 shares of the company’s stock, valued at $1,144,850.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brett Tighe sold 5,913 shares of the firm’s stock in a transaction that occurred on Thursday, June 16th. The shares were sold at an average price of $79.97, for a total transaction of $472,862.61. Following the completion of the sale, the chief financial officer now directly owns 31,189 shares in the company, valued at approximately $2,494,184.33. The disclosure for this sale can be found here. Insiders have sold 16,442 shares of company stock worth $1,318,711 in the last three months. Corporate insiders own 7.60% of the company’s stock.

Shares of OKTA stock opened at $86.02 on Thursday. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average of $101.88 and a two-hundred day moving average of $156.86. Okta, Inc. has a 1-year low of $77.01 and a 1-year high of $276.30.

Okta (NASDAQ:OKTAGet Rating) last announced its earnings results on Thursday, June 2nd. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.07. The company had revenue of $414.94 million during the quarter, compared to analyst estimates of $388.77 million. Okta had a negative net margin of 67.06% and a negative return on equity of 13.13%. Okta’s revenue was up 65.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.59) earnings per share. As a group, analysts expect that Okta, Inc. will post -5.57 EPS for the current year.

About Okta (Get Rating)

Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products and services, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access applications in the cloud or on-premise from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, Web applications, and data; Lifecycle Management that enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; Access Gateway that enables organizations to extend the Okta Identity Cloud from the cloud to their existing on-premise applications; and Advanced Server Access to secure cloud infrastructure.

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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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