Okta, Inc. (NASDAQ:OKTA) Shares Sold by Rather & Kittrell Inc.

Rather & Kittrell Inc. trimmed its position in Okta, Inc. (NASDAQ:OKTA) by 16.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,628 shares of the company’s stock after selling 1,082 shares during the quarter. Rather & Kittrell Inc.’s holdings in Okta were worth $510,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of OKTA. Blue Zone Wealth Advisors LLC lifted its stake in shares of Okta by 2.7% in the fourth quarter. Blue Zone Wealth Advisors LLC now owns 5,142 shares of the company’s stock worth $466,000 after buying an additional 134 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in shares of Okta by 7.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,926 shares of the company’s stock worth $174,000 after purchasing an additional 138 shares during the last quarter. Choreo LLC boosted its holdings in shares of Okta by 5.0% during the 3rd quarter. Choreo LLC now owns 3,366 shares of the company’s stock worth $274,000 after purchasing an additional 160 shares during the last quarter. CWM LLC grew its position in shares of Okta by 6.7% in the third quarter. CWM LLC now owns 2,582 shares of the company’s stock valued at $210,000 after purchasing an additional 162 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its position in shares of Okta by 19.2% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,207 shares of the company’s stock valued at $98,000 after purchasing an additional 194 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Stock Down 0.7 %

OKTA stock traded down $0.64 during midday trading on Friday, hitting $92.29. The company’s stock had a trading volume of 793,365 shares, compared to its average volume of 1,923,749. The firm has a 50-day simple moving average of $99.58 and a 200-day simple moving average of $86.31. The firm has a market capitalization of $15.45 billion, a P/E ratio of -42.53 and a beta of 1.00. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.20. Okta, Inc. has a 52-week low of $65.04 and a 52-week high of $114.50.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.35. Okta had a negative return on equity of 5.69% and a negative net margin of 15.69%. The firm had revenue of $605.00 million during the quarter, compared to analyst estimates of $586.25 million. As a group, equities analysts forecast that Okta, Inc. will post -1.51 EPS for the current year.

Insider Activity

In other Okta news, CAO Shibu Ninan sold 2,500 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $590,013.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Shellye L. Archambeau sold 5,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was 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 in the company, valued at approximately $646,252.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Shibu Ninan sold 2,500 shares of the business’s stock in a transaction that occurred on 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 owns 6,539 shares of the company’s stock, valued at approximately $590,013.97. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,779 shares of company stock worth $1,205,990. 7.36% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on OKTA shares. Susquehanna boosted their price objective on Okta from $70.00 to $115.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. BMO Capital Markets boosted their price target on shares of Okta from $80.00 to $110.00 and gave the company a “market perform” rating in a research report on Thursday, February 29th. Evercore ISI lifted their target price on shares of Okta from $70.00 to $102.00 and gave the stock an “in-line” rating in a research note on Thursday, February 29th. Truist Financial reiterated a “hold” rating and issued a $105.00 target price (up from $85.00) on shares of Okta in a report on Thursday, February 29th. Finally, Bank of America upgraded shares of Okta from an “underperform” rating to a “buy” rating and raised their price target for the stock from $64.00 to $135.00 in a report on Thursday, February 29th. Twenty research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Okta currently has an average rating of “Hold” and a consensus price target of $100.39.

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.