Gladstone Institutional Advisory LLC Has $211,000 Holdings in Okta, Inc. (NASDAQ:OKTA)

Gladstone Institutional Advisory LLC lessened its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 22.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,332 shares of the company’s stock after selling 672 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Okta were worth $211,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in OKTA. NBC Securities Inc. bought a new position in shares of Okta during the third quarter valued at $27,000. GAMMA Investing LLC bought a new position in Okta during the fourth quarter worth $29,000. Harvest Fund Management Co. Ltd bought a new position in Okta during the third quarter worth $39,000. Principal Securities Inc. bought a new position in Okta during the fourth quarter worth $48,000. Finally, Quintet Private Bank Europe S.A. bought a new position in Okta during the third quarter worth $64,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Price Performance

OKTA stock traded down $1.58 during midday trading on Friday, reaching $97.16. The company had a trading volume of 1,432,494 shares, compared to its average volume of 1,231,753. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.67 and a quick ratio of 1.67. Okta, Inc. has a 1 year low of $65.04 and a 1 year high of $114.50. The company has a market capitalization of $16.26 billion, a P/E ratio of -44.77 and a beta of 0.98. The firm has a 50-day moving average price of $99.19 and a 200-day moving average price of $89.45.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) 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 business had revenue of $605.00 million during the quarter, compared to analysts’ expectations of $586.25 million. On average, research analysts anticipate that Okta, Inc. will post -1.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OKTA has been the subject of a number of research reports. Wedbush restated an “outperform” rating and issued a $130.00 price target on shares of Okta in a report on Friday, May 10th. Royal Bank of Canada raised their price target on shares of Okta from $95.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Oppenheimer lifted their price objective on shares of Okta from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. BMO Capital Markets lifted their price objective on shares of Okta from $80.00 to $110.00 and gave the company a “market perform” rating in a report on Thursday, February 29th. Finally, Evercore ISI lifted their price objective on shares of Okta from $70.00 to $102.00 and gave the company an “in-line” rating in a report on Thursday, February 29th. Twenty investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Okta currently has an average rating of “Hold” and a consensus price target of $101.84.

Insider Activity at Okta

In related news, CAO Shibu Ninan sold 4,279 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 4,111 shares in the company, valued at approximately $428,119.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Okta news, CAO Shibu Ninan sold 4,279 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total value of $445,615.06. Following the completion of the transaction, the chief accounting officer now directly owns 4,111 shares in the company, valued at approximately $428,119.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shellye L. Archambeau sold 5,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the completion of the transaction, the director now owns 6,042 shares of the company’s stock, valued at $646,252.32. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by company insiders.

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.