Perigon Wealth Management LLC Has $517,000 Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Perigon Wealth Management LLC decreased its position in Okta, Inc. (NASDAQ:OKTA) by 11.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,712 shares of the company’s stock after selling 734 shares during the period. Perigon Wealth Management LLC’s holdings in Okta were worth $517,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. MetLife Investment Management LLC bought a new stake in Okta in the 1st quarter valued at $1,232,000. APG Asset Management N.V. grew its stake in shares of Okta by 37.3% in the 1st quarter. APG Asset Management N.V. now owns 7,000 shares of the company’s stock valued at $950,000 after purchasing an additional 1,900 shares during the period. Raymond James Trust N.A. raised its holdings in shares of Okta by 33.7% in the 1st quarter. Raymond James Trust N.A. now owns 2,307 shares of the company’s stock worth $349,000 after buying an additional 581 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Okta by 3.7% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 22,788 shares of the company’s stock worth $3,440,000 after buying an additional 808 shares in the last quarter. Finally, Cibc World Market Inc. boosted its stake in Okta by 7.9% in the 1st quarter. Cibc World Market Inc. now owns 3,297 shares of the company’s stock valued at $498,000 after buying an additional 240 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OKTA. Westpark Capital upgraded shares of Okta from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research note on Thursday, February 29th. BMO Capital Markets lifted their price objective on Okta from $80.00 to $110.00 and gave the company a “market perform” rating in a research report on Thursday, February 29th. Bank of America raised Okta from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $64.00 to $135.00 in a research note on Thursday, February 29th. Citigroup raised their target price on Okta from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Finally, JPMorgan Chase & Co. upped their price target on shares of Okta from $74.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Twenty research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $100.39.

Insiders Place Their Bets

In related news, CAO Shibu Ninan sold 4,279 shares of the firm’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 sale, the chief accounting officer now directly owns 4,111 shares of the company’s stock, valued at $428,119.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Shibu Ninan sold 4,279 shares of the firm’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 owns 4,111 shares in the company, valued at approximately $428,119.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Shellye L. Archambeau sold 5,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 6,042 shares of the company’s stock, valued at $646,252.32. The disclosure for this sale can be found here. Insiders sold 11,779 shares of company stock worth $1,205,990 over the last three months. Insiders own 7.36% of the company’s stock.

Okta Stock Down 4.1 %

Shares of OKTA stock opened at $94.23 on Tuesday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. The stock has a 50 day simple moving average of $98.22 and a 200 day simple moving average of $85.55. Okta, Inc. has a 1 year low of $65.04 and a 1 year high of $114.50.

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

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.