Motley Fool Wealth Management LLC Sells 8,040 Shares of Okta, Inc. (NASDAQ:OKTA)

Motley Fool Wealth Management LLC decreased its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 7.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 100,919 shares of the company’s stock after selling 8,040 shares during the period. Motley Fool Wealth Management LLC’s holdings in Okta were worth $9,092,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. NBC Securities Inc. bought a new position in Okta in the 3rd quarter valued at about $27,000. GAMMA Investing LLC bought a new position in Okta during the 4th quarter valued at $29,000. Harvest Fund Management Co. Ltd purchased a new position in Okta during the 3rd quarter worth $39,000. UMB Bank n.a. grew its stake in shares of Okta by 150.5% in the 4th quarter. UMB Bank n.a. now owns 749 shares of the company’s stock worth $68,000 after acquiring an additional 450 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings in shares of Okta by 61.6% in the fourth quarter. Lindbrook Capital LLC now owns 782 shares of the company’s stock valued at $71,000 after purchasing an additional 298 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

Okta Stock Performance

Shares of NASDAQ OKTA traded down $0.64 during midday trading on Friday, hitting $92.29. 793,448 shares of the company’s stock traded hands, compared to its average volume of 1,060,182. 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 fifty day moving average of $99.58 and a 200 day moving average of $86.32. Okta, Inc. has a 1 year low of $65.04 and a 1 year high of $114.50.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.35. The business had revenue of $605.00 million for the quarter, compared to the consensus estimate of $586.25 million. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. Research analysts forecast that Okta, Inc. will post -1.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

OKTA has been the subject of a number of recent analyst reports. Evercore ISI upped their price objective on shares of Okta from $70.00 to $102.00 and gave the stock an “in-line” rating in a research report on Thursday, February 29th. Westpark Capital raised Okta from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Thursday, February 29th. Robert W. Baird boosted their price objective on Okta from $90.00 to $108.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. raised their target price on Okta from $74.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Finally, Sanford C. Bernstein boosted their price target on shares of Okta from $84.00 to $114.00 and gave the stock a “market perform” rating in a report on Thursday, February 29th. Twenty analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $100.39.

Insider Buying and Selling

In other Okta news, CAO Shibu Ninan sold 2,500 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $90.23, for a total transaction of $225,575.00. Following the completion of the transaction, the chief accounting officer now owns 6,539 shares of the company’s stock, valued at approximately $590,013.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Shibu Ninan sold 2,500 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $90.23, for a total value of $225,575.00. Following the sale, the chief accounting officer now directly owns 6,539 shares in the company, valued at $590,013.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Shellye L. Archambeau sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $106.96, for a total value of $534,800.00. Following the transaction, the director now owns 6,042 shares of the company’s stock, valued at approximately $646,252.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,779 shares of company stock worth $1,205,990. 7.36% of the stock is owned by insiders.

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.