Rhumbline Advisers Trims Stake in Okta, Inc. (NASDAQ:OKTA)

Rhumbline Advisers reduced its position in shares of Okta, Inc. (NASDAQ:OKTA) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 193,361 shares of the company’s stock after selling 4,520 shares during the quarter. Rhumbline Advisers owned about 0.11% of Okta worth $15,237,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of OKTA. Stephens Inc. AR increased its holdings in shares of Okta by 5.0% in the 4th quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock valued at $260,000 after acquiring an additional 157 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Okta by 2.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock valued at $605,000 after acquiring an additional 180 shares during the period. Creative Financial Designs Inc. ADV increased its holdings in shares of Okta by 12.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock valued at $127,000 after acquiring an additional 188 shares during the period. Blue Trust Inc. increased its holdings in shares of Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after acquiring an additional 191 shares during the period. Finally, CHICAGO TRUST Co NA increased its holdings in shares of Okta by 6.5% in the 4th quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock valued at $246,000 after acquiring an additional 191 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Okta

In related news, Director Jacques Frederic Kerrest sold 131,426 shares of Okta stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.68, for a total value of $10,603,449.68. Following the completion of the transaction, the director now owns 1,622 shares in the company, valued at $130,862.96. The trade was a 98.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.50, for a total value of $217,672.00. Following the completion of the transaction, the insider now owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 980,908 shares of company stock worth $85,025,665 in the last 90 days. Corporate insiders own 7.00% of the company’s stock.

Okta Price Performance

Shares of Okta stock opened at $92.75 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50. The business has a 50-day moving average price of $88.64 and a 200 day moving average price of $82.53. The firm has a market cap of $15.89 billion, a PE ratio of -265.00, a P/E/G ratio of 6.42 and a beta of 1.03.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Westpark Capital reiterated a “buy” rating and issued a $140.00 price target on shares of Okta in a report on Wednesday, December 4th. Needham & Company LLC reissued a “buy” rating and issued a $115.00 price objective on shares of Okta in a research report on Tuesday, February 4th. BTIG Research raised their price objective on Okta from $98.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler raised their price objective on Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, DA Davidson raised their price objective on Okta from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Okta currently has a consensus rating of “Hold” and an average price target of $106.13.

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.