Okta, Inc. (NASDAQ:OKTA) Shares Sold by Greenleaf Trust

Greenleaf Trust lowered its position in Okta, Inc. (NASDAQ:OKTA) by 15.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,539 shares of the company’s stock after selling 452 shares during the period. Greenleaf Trust’s holdings in Okta were worth $230,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Resonant Capital Advisors LLC purchased a new position in Okta in the fourth quarter valued at about $308,000. AM Squared Ltd purchased a new position in Okta in the fourth quarter valued at about $163,000. Rakuten Securities Inc. purchased a new position in Okta in the fourth quarter valued at about $372,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Okta by 2.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,751 shares of the company’s stock valued at $6,405,000 after buying an additional 1,733 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in Okta by 7.0% in the fourth quarter. Mackenzie Financial Corp now owns 9,667 shares of the company’s stock valued at $875,000 after buying an additional 630 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Citigroup increased their target price on shares of Okta from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Mizuho increased their target price on shares of Okta from $90.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. BMO Capital Markets increased their target price on shares of Okta from $80.00 to $110.00 and gave the company a “market perform” rating in a report on Thursday, February 29th. Susquehanna raised their price objective on shares of Okta from $70.00 to $115.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Finally, Piper Sandler raised their price objective on shares of Okta from $85.00 to $110.00 and gave the stock a “neutral” rating in a research note 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. According to MarketBeat.com, Okta currently has a consensus rating of “Hold” and a consensus target price of $100.39.

Okta Stock Down 0.6 %

NASDAQ:OKTA opened at $93.76 on Thursday. 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 50-day moving average of $99.45 and a two-hundred day moving average of $86.20. 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, beating analysts’ consensus estimates of ($0.49) by $0.35. The company 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%. As a group, equities analysts anticipate that Okta, Inc. will post -1.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Okta

In other Okta news, Director Shellye L. Archambeau sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $106.96, for a total value of $534,800.00. Following the completion of the transaction, the director now directly owns 6,042 shares of the company’s stock, valued at approximately $646,252.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Shellye L. Archambeau sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $106.96, for a total value of $534,800.00. Following the sale, the director now owns 6,042 shares in the company, valued at approximately $646,252.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Shibu Ninan sold 4,279 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 11,779 shares of company stock valued at $1,205,990 in the last ninety days. Insiders own 7.36% of the company’s stock.

About Okta

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.