Stanley Laman Group Ltd. Sells 4,591 Shares of Okta, Inc. (NASDAQ:OKTA)

Stanley Laman Group Ltd. trimmed its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 5.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,271 shares of the company’s stock after selling 4,591 shares during the quarter. Okta accounts for about 1.1% of Stanley Laman Group Ltd.’s portfolio, making the stock its 23rd largest position. Stanley Laman Group Ltd.’s holdings in Okta were worth $7,448,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Semanteon Capital Management LP acquired a new position in shares of Okta during the 4th quarter valued at $1,273,000. Atria Wealth Solutions Inc. raised its holdings in Okta by 126.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 5,580 shares of the company’s stock worth $505,000 after buying an additional 3,116 shares during the last quarter. GAMMA Investing LLC acquired a new position in Okta during the fourth quarter worth $29,000. Lindbrook Capital LLC raised its holdings in Okta by 61.6% during the fourth quarter. Lindbrook Capital LLC now owns 782 shares of the company’s stock worth $71,000 after buying an additional 298 shares during the last quarter. Finally, abrdn plc raised its holdings in Okta by 35.0% during the fourth quarter. abrdn plc now owns 123,692 shares of the company’s stock worth $11,198,000 after buying an additional 32,085 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

Okta Stock Performance

NASDAQ:OKTA traded down $0.83 on Thursday, reaching $92.93. 840,566 shares of the company’s stock were exchanged, compared to its average volume of 1,937,875. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.67 and a quick ratio of 1.67. The firm has a market cap of $15.56 billion, a price-to-earnings ratio of -42.82 and a beta of 1.00. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50. The stock has a fifty day simple moving average of $99.52 and a 200-day simple moving average of $86.25.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $605.00 million for the quarter, compared to the consensus estimate of $586.25 million. As a group, sell-side analysts predict that Okta, Inc. will post -1.51 earnings per share for the current year.

Insider Transactions at Okta

In other Okta news, Director Shellye L. Archambeau sold 5,000 shares of the stock in a transaction that occurred 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 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 hyperlink. In other Okta news, Director Shellye L. Archambeau sold 5,000 shares of the stock in a transaction that occurred 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 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 hyperlink. Also, CAO Shibu Ninan sold 4,279 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total transaction of $445,615.06. Following the transaction, the chief accounting officer now owns 4,111 shares in the company, valued at $428,119.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,779 shares of company stock valued at $1,205,990. 7.36% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

OKTA has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Okta from $74.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. BMO Capital Markets upped their price objective on shares of Okta from $80.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, February 29th. Bank of America upgraded shares of Okta from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $64.00 to $135.00 in a report on Thursday, February 29th. Susquehanna upped their target price on shares of Okta from $70.00 to $115.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Finally, Citigroup upped their target price on shares of Okta from $75.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Twenty analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $100.39.

Okta 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.