Choreo LLC Has $271,000 Stake in Okta, Inc. (NASDAQ:OKTA)

Choreo LLC decreased its position in Okta, Inc. (NASDAQ:OKTA) by 11.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,997 shares of the company’s stock after selling 369 shares during the quarter. Choreo LLC’s holdings in Okta were worth $271,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of OKTA. NBC Securities Inc. acquired a new stake in shares of Okta in the third quarter valued at about $27,000. GAMMA Investing LLC acquired a new stake in shares of Okta in the fourth quarter valued at about $29,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Okta in the third quarter valued at about $39,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of Okta in the third quarter valued at about $64,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of Okta in the third quarter valued at about $65,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on OKTA shares. Robert W. Baird lifted their price target on Okta from $90.00 to $108.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Citigroup lifted their price target on Okta from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Evercore ISI lifted their price target on Okta from $70.00 to $102.00 and gave the stock an “in-line” rating in a report on Thursday, February 29th. Royal Bank of Canada lifted their price target on Okta from $95.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. lifted their price target on Okta from $74.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Twenty equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $100.39.

Okta Stock Up 1.1 %

Shares of OKTA stock opened at $96.55 on Friday. 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 $100.36 and a 200 day simple moving average of $86.55. Okta, Inc. has a 1 year low of $65.04 and a 1 year high of $114.50.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.14) EPS for the quarter, beating 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 the consensus estimate of $586.25 million. Equities analysts expect 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, CAO Shibu Ninan sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $90.23, for a total transaction of $225,575.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,539 shares in the company, valued at $590,013.97. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Shellye L. Archambeau sold 5,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were 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 directly owns 6,042 shares in the company, valued at $646,252.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Shibu Ninan sold 2,500 shares of the company’s stock in a transaction on 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 owns 6,539 shares of the company’s stock, valued at $590,013.97. The disclosure for this sale can be found here. Insiders sold a total of 11,779 shares of company stock worth $1,205,990 over the last three months. Corporate 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.