Okta, Inc. (NASDAQ:OKTA) Shares Sold by Brighton Jones LLC

Brighton Jones LLC decreased its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 38.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,474 shares of the company’s stock after selling 1,516 shares during the period. Brighton Jones LLC’s holdings in Okta were worth $232,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Okta by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 15,719,619 shares of the company’s stock worth $1,423,097,000 after acquiring an additional 438,496 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in shares of Okta by 19.5% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 3,405 shares of the company’s stock worth $308,000 after purchasing an additional 556 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of Okta by 282.5% in the 1st quarter. Los Angeles Capital Management LLC now owns 248,658 shares of the company’s stock valued at $26,015,000 after purchasing an additional 183,643 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Okta by 28.6% in the 1st quarter. Principal Financial Group Inc. now owns 13,144 shares of the company’s stock valued at $1,375,000 after purchasing an additional 2,925 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Okta by 639.6% in the first quarter. SG Americas Securities LLC now owns 70,895 shares of the company’s stock valued at $7,417,000 after purchasing an additional 61,309 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Transactions at Okta

In related news, CEO Todd Mckinnon sold 179,687 shares of the company’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $93.42, for a total transaction of $16,786,359.54. Following the completion of the sale, the chief executive officer now directly owns 47,883 shares of the company’s stock, valued at approximately $4,473,229.86. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Jacques Frederic Kerrest sold 3,280 shares of Okta stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $95.64, for a total transaction of $313,699.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Todd Mckinnon sold 179,687 shares of the company’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $93.42, for a total transaction of $16,786,359.54. Following the completion of the transaction, the chief executive officer now owns 47,883 shares of the company’s stock, valued at $4,473,229.86. The disclosure for this sale can be found here. Insiders sold 347,411 shares of company stock valued at $32,837,280 over the last 90 days. Corporate insiders own 7.00% of the company’s stock.

Okta Price Performance

OKTA stock opened at $75.75 on Monday. The company has a market cap of $12.74 billion, a PE ratio of -45.36, a price-to-earnings-growth ratio of 41.00 and a beta of 1.01. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $87.37 and a two-hundred day moving average price of $93.50. Okta, Inc. has a 12-month low of $65.04 and a 12-month high of $114.50.

Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.29. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. The business had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $632.24 million. As a group, research analysts predict that Okta, Inc. will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Bank of America lowered shares of Okta from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $135.00 to $75.00 in a research report on Thursday, August 29th. The Goldman Sachs Group lowered their price target on Okta from $130.00 to $113.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Truist Financial reaffirmed a “hold” rating and set a $95.00 price objective (down from $105.00) on shares of Okta in a report on Thursday, August 29th. Citigroup decreased their target price on Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price target on shares of Okta in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $105.14.

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.