Rather & Kittrell Inc. Sells 1,653 Shares of Okta, Inc. (NASDAQ:OKTA)

Rather & Kittrell Inc. reduced its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 29.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,979 shares of the company’s stock after selling 1,653 shares during the period. Rather & Kittrell Inc.’s holdings in Okta were worth $314,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Frank Rimerman Advisors LLC lifted its position in Okta by 2.4% during the 4th quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock worth $352,000 after acquiring an additional 105 shares during the last quarter. Stephens Inc. AR lifted its position in shares of Okta by 5.0% during the 4th quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock worth $260,000 after purchasing an additional 157 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Okta by 2.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock valued at $605,000 after purchasing an additional 180 shares during the period. Great Lakes Advisors LLC grew its holdings in Okta by 2.7% in the 4th quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company’s stock valued at $557,000 after buying an additional 184 shares during the last quarter. Finally, CHICAGO TRUST Co NA increased its position in Okta by 6.5% in the 4th quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock worth $246,000 after buying an additional 191 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Activity

In other news, Director Jacques Frederic Kerrest sold 3,306 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $88.85, for a total value of $293,738.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $89.58, for a total value of $242,224.32. Following the transaction, the insider now owns 23,311 shares of the company’s stock, valued at approximately $2,088,199.38. The trade was a 10.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 768,202 shares of company stock worth $71,371,369 in the last 90 days. Corporate insiders own 7.00% of the company’s stock.

Okta Stock Performance

OKTA stock opened at $100.21 on Wednesday. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $118.07. The business’s 50-day moving average price is $102.27 and its two-hundred day moving average price is $88.11. The firm has a market cap of $17.40 billion, a PE ratio of -286.31, a P/E/G ratio of 6.42 and a beta of 1.07. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Robert W. Baird raised their price objective on shares of Okta from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. The Goldman Sachs Group boosted their price objective on shares of Okta from $107.00 to $123.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. increased their target price on shares of Okta from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. DA Davidson upgraded Okta from a “neutral” rating to a “buy” rating and boosted their price target for the company from $90.00 to $125.00 in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada upped their price target on Okta from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.09.

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.