Okta, Inc. (NASDAQ:OKTA) Shares Sold by Whale Rock Capital Management LLC

Whale Rock Capital Management LLC lowered its position in shares of Okta, Inc. (NASDAQ:OKTA) by 62.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 813,701 shares of the company’s stock after selling 1,368,718 shares during the period. Whale Rock Capital Management LLC’s holdings in Okta were worth $64,120,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Bank of Jackson Hole Trust purchased a new position in Okta during the fourth quarter worth about $25,000. TD Private Client Wealth LLC boosted its holdings in Okta by 3,507.7% in the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock valued at $37,000 after purchasing an additional 456 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in Okta during the 4th quarter worth approximately $43,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Okta during the 4th quarter worth approximately $44,000. Finally, True Wealth Design LLC lifted its holdings in shares of Okta by 237.4% in the 4th quarter. True Wealth Design LLC now owns 577 shares of the company’s stock valued at $45,000 after buying an additional 406 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling

In other news, CRO Jonathan James Addison sold 7,005 shares of the business’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $101.19, for a total transaction of $708,835.95. Following the completion of the sale, the executive now directly owns 19,067 shares of the company’s stock, valued at $1,929,389.73. The trade was a 26.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Larissa Schwartz sold 11,552 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value of $1,317,967.68. Following the sale, the insider now owns 22,125 shares of the company’s stock, valued at approximately $2,524,241.25. The trade was a 34.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 154,452 shares of company stock worth $16,347,360. 5.68% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on OKTA shares. Scotiabank lifted their price target on Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 4th. Morgan Stanley decreased their target price on shares of Okta from $125.00 to $123.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Loop Capital started coverage on shares of Okta in a report on Monday, May 5th. They issued a “buy” rating and a $140.00 price target for the company. Oppenheimer raised their price objective on shares of Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Finally, UBS Group set a $135.00 target price on shares of Okta in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Okta presently has an average rating of “Moderate Buy” and a consensus price target of $117.74.

Okta Price Performance

OKTA stock opened at $126.44 on Tuesday. The stock has a market capitalization of $21.95 billion, a price-to-earnings ratio of -361.26, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $127.57. The stock’s fifty day simple moving average is $108.50 and its 200-day simple moving average is $94.53.

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.