Blair William & Co. IL Lowers Stock Position in Okta, Inc. (NASDAQ:OKTA)

Blair William & Co. IL trimmed its position in Okta, Inc. (NASDAQ:OKTA) by 4.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,805 shares of the company’s stock after selling 4,723 shares during the period. Blair William & Co. IL owned approximately 0.06% of Okta worth $11,279,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OKTA. Cerity Partners LLC grew its position in Okta by 6,192.3% in the 4th quarter. Cerity Partners LLC now owns 3,172,223 shares of the company’s stock valued at $287,181,000 after buying an additional 3,121,809 shares during the last quarter. Sands Capital Management LLC grew its position in Okta by 42.3% in the 4th quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company’s stock valued at $756,687,000 after buying an additional 2,486,456 shares during the last quarter. Norges Bank acquired a new stake in Okta in the fourth quarter valued at $150,794,000. First Trust Advisors LP lifted its holdings in Okta by 28.1% in the fourth quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock valued at $369,854,000 after acquiring an additional 897,216 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in Okta by 1,465.8% in the fourth quarter. Point72 Asset Management L.P. now owns 682,900 shares of the company’s stock valued at $61,823,000 after acquiring an additional 732,900 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Larissa Schwartz sold 2,792 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $99.40, for a total transaction of $277,524.80. Following the transaction, the insider now directly owns 29,809 shares of the company’s stock, valued at approximately $2,963,014.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Okta news, Director Jacques Frederic Kerrest sold 1,552 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $86.99, for a total value of $135,008.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Larissa Schwartz sold 2,792 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $99.40, for a total value of $277,524.80. Following the completion of the transaction, the insider now directly owns 29,809 shares in the company, valued at $2,963,014.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,840 shares of company stock valued at $8,566,381. Corporate insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

OKTA has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $130.00 target price on shares of Okta in a report on Thursday, May 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 target price on shares of Okta in a report on Monday, June 17th. Wedbush reissued an “outperform” rating and issued a $130.00 target price on shares of Okta in a report on Wednesday, May 29th. Mizuho raised their target price on Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, May 17th. Finally, Susquehanna cut their price target on Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Nineteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Okta has an average rating of “Hold” and a consensus target price of $105.58.

Okta Stock Up 0.1 %

OKTA traded up $0.11 during midday trading on Friday, hitting $94.03. The company’s stock had a trading volume of 1,412,036 shares, compared to its average volume of 1,615,909. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $93.42 and a two-hundred day moving average price of $93.63. Okta, Inc. has a 52-week low of $65.04 and a 52-week high of $114.50.

Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, May 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.27. Okta had a negative return on equity of 3.81% and a negative net margin of 11.69%. The business had revenue of $617.00 million during the quarter, compared to analysts’ expectations of $604.33 million. As a group, research analysts expect that Okta, Inc. will post -0.28 earnings per share for the current year.

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.