Y.D. More Investments Ltd Reduces Holdings in Okta, Inc. (NASDAQ:OKTA)

Y.D. More Investments Ltd decreased its holdings in Okta, Inc. (NASDAQ:OKTA) by 48.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,181 shares of the company’s stock after selling 12,497 shares during the quarter. Y.D. More Investments Ltd’s holdings in Okta were worth $1,193,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Commonwealth Equity Services LLC raised its stake in Okta by 1.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 28,302 shares of the company’s stock worth $2,307,000 after acquiring an additional 333 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Okta by 8.8% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 36,000 shares of the company’s stock valued at $2,934,000 after acquiring an additional 2,900 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of Okta during the third quarter valued at about $223,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of Okta by 9.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 91,807 shares of the company’s stock valued at $7,483,000 after acquiring an additional 7,986 shares in the last quarter. Finally, Clear Creek Financial Management LLC increased its holdings in shares of Okta by 7.0% during the third quarter. Clear Creek Financial Management LLC now owns 4,768 shares of the company’s stock valued at $389,000 after acquiring an additional 314 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Transactions at Okta

In other news, CAO Shibu Ninan sold 2,500 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was 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 directly owns 6,539 shares of the company’s stock, valued at approximately $590,013.97. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Okta news, Director Shellye L. Archambeau sold 5,000 shares of the firm’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Shibu Ninan sold 2,500 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now directly 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 three months, insiders sold 11,779 shares of company stock valued at $1,205,990. Corporate insiders own 7.36% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on OKTA. Mizuho upped their target price on Okta from $90.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Oppenheimer increased their target price on Okta from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Evercore ISI increased their price objective on Okta from $70.00 to $102.00 and gave the company an “in-line” rating in a research note on Thursday, February 29th. Citigroup increased their price objective on Okta from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $95.00 price objective (up from $85.00) on shares of Okta in a research note on Friday, January 5th. Twenty investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Okta presently has a consensus rating of “Hold” and a consensus price target of $100.39.

Okta Stock Performance

Shares of NASDAQ OKTA traded up $0.36 during trading hours on Wednesday, reaching $93.34. The stock had a trading volume of 948,184 shares, compared to its average volume of 1,893,302. The firm has a market cap of $15.63 billion, a price-to-earnings ratio of -42.66 and a beta of 1.00. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. Okta, Inc. has a fifty-two week low of $65.04 and a fifty-two week high of $114.50. The firm has a 50-day moving average of $99.86 and a 200-day moving average of $86.44.

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

About Okta

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.