Blair William & Co. IL Sells 1,032 Shares of Okta, Inc. (NASDAQ:OKTA)

Blair William & Co. IL lessened its holdings in Okta, Inc. (NASDAQ:OKTA) by 1.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 79,172 shares of the company’s stock after selling 1,032 shares during the period. Blair William & Co. IL’s holdings in Okta were worth $6,239,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its stake in shares of Okta by 3.3% in the third quarter. The Manufacturers Life Insurance Company now owns 7,737 shares of the company’s stock worth $575,000 after purchasing an additional 250 shares during the last quarter. Townsquare Capital LLC lifted its holdings in Okta by 16.5% during the 3rd quarter. Townsquare Capital LLC now owns 6,321 shares of the company’s stock worth $470,000 after buying an additional 896 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Okta by 7.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,547 shares of the company’s stock valued at $8,813,000 after buying an additional 8,239 shares during the last quarter. Vinva Investment Management Ltd increased its stake in shares of Okta by 8.0% in the third quarter. Vinva Investment Management Ltd now owns 7,445 shares of the company’s stock valued at $551,000 after buying an additional 552 shares during the period. Finally, Rockefeller Capital Management L.P. raised its position in shares of Okta by 2.5% during the third quarter. Rockefeller Capital Management L.P. now owns 58,105 shares of the company’s stock worth $4,320,000 after acquiring an additional 1,441 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OKTA has been the topic of several analyst reports. Wells Fargo & Company upped their target price on Okta from $95.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. DA Davidson raised shares of Okta from a “neutral” rating to a “buy” rating and upped their price objective for the company from $90.00 to $125.00 in a research note on Tuesday, March 4th. Mizuho raised shares of Okta from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $110.00 to $127.00 in a research note on Tuesday, March 4th. JPMorgan Chase & Co. upped their price target on shares of Okta from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, Sanford C. Bernstein lowered their price objective on Okta from $129.00 to $124.00 and set an “outperform” rating for the company in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Okta currently has a consensus rating of “Moderate Buy” and an average price target of $115.29.

Insider Buying and Selling at Okta

In related news, Director Jacques Frederic Kerrest sold 3,306 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $88.85, for a total transaction of $293,738.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brett Tighe sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total value of $445,000.00. Following the completion of the transaction, the chief financial officer now directly owns 112,533 shares in the company, valued at approximately $10,015,437. This represents a 4.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 761,197 shares of company stock worth $70,662,533. Corporate insiders own 7.00% of the company’s stock.

Okta Stock Down 2.9 %

Shares of NASDAQ:OKTA opened at $107.99 on Monday. The business’s 50 day moving average is $100.33 and its 200 day moving average is $85.87. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $118.07. The stock has a market cap of $18.75 billion, a price-to-earnings ratio of -308.54, a PEG ratio of 6.42 and a beta of 1.09. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

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.