Gilbert & Cook Inc. Sells 368 Shares of Okta, Inc. (NASDAQ:OKTA)

Gilbert & Cook Inc. lessened its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 2.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 13,662 shares of the company’s stock after selling 368 shares during the period. Gilbert & Cook Inc.’s holdings in Okta were worth $1,016,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Caprock Group LLC grew its stake in shares of Okta by 4.7% in the 2nd quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock valued at $267,000 after buying an additional 129 shares during the period. National Bank of Canada FI raised its holdings in shares of Okta by 11.0% in the 2nd quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock valued at $124,000 after purchasing an additional 130 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Okta by 71.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after purchasing an additional 142 shares in the last quarter. CWM LLC raised its stake in Okta by 5.3% during the 2nd quarter. CWM LLC now owns 2,910 shares of the company’s stock worth $272,000 after acquiring an additional 147 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its stake in Okta by 4.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after acquiring an additional 182 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling

In related news, CEO Todd Mckinnon sold 224,533 shares of Okta stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $74.62, for a total value of $16,754,652.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Larissa Schwartz sold 2,790 shares of Okta stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $74.01, for a total value of $206,487.90. Following the completion of the transaction, the insider now directly owns 27,713 shares in the company, valued at approximately $2,051,039.13. This represents a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 475,789 shares of company stock valued at $35,701,361 over the last ninety days. 7.00% of the stock is owned by company insiders.

Okta Price Performance

Shares of OKTA stock opened at $73.66 on Friday. The business’s 50-day moving average price is $74.52 and its 200-day moving average price is $86.17. Okta, Inc. has a 12 month low of $66.69 and a 12 month high of $114.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.29. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. The firm had revenue of $646.00 million for the quarter, compared to analyst estimates of $632.24 million. As a group, equities analysts expect that Okta, Inc. will post 0.19 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on OKTA shares. Royal Bank of Canada lowered their target price on shares of Okta from $125.00 to $101.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Citigroup reduced their price objective on shares of Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. UBS Group cut their price target on shares of Okta from $120.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Truist Financial cut their price target on shares of Okta from $95.00 to $80.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Okta from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $98.90.

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.