Commonwealth Equity Services LLC Decreases Stake in Okta, Inc. (NASDAQ:OKTA)

Commonwealth Equity Services LLC lessened its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 24.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,025 shares of the company’s stock after selling 8,338 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Okta were worth $2,051,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of Jackson Hole Trust purchased a new stake in Okta during the 4th quarter valued at $25,000. Itau Unibanco Holding S.A. bought a new position in shares of Okta during the third quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Okta during the third quarter worth about $32,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Okta in the fourth quarter worth about $44,000. Finally, Modus Advisors LLC purchased a new position in Okta during the 4th quarter valued at about $44,000. Institutional investors own 86.64% of the company’s stock.

Analysts Set New Price Targets

OKTA has been the subject of several research analyst reports. Scotiabank increased their price objective on Okta from $94.00 to $109.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 4th. Robert W. Baird raised their price target on Okta from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. BMO Capital Markets boosted their price objective on shares of Okta from $105.00 to $130.00 and gave the company a “market perform” rating in a research report on Monday, March 10th. Stifel Nicolaus raised their target price on shares of Okta from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Finally, Canaccord Genuity Group boosted their price target on shares of Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $115.29.

Okta Stock Down 2.5 %

OKTA opened at $111.20 on Friday. The stock has a market capitalization of $19.30 billion, a price-to-earnings ratio of -317.71, a PEG ratio of 6.42 and a beta of 1.09. The firm has a 50 day moving average price of $99.92 and a 200-day moving average price of $85.43. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $118.07. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Insider Buying and Selling at Okta

In other Okta news, insider Eric Robert Kelleher sold 5,895 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $113.75, for a total value of $670,556.25. Following the transaction, the insider now directly owns 9,828 shares in the company, valued at approximately $1,117,935. This trade represents a 37.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the sale, the insider now directly owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. The trade was a 9.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 763,901 shares of company stock worth $70,880,205. Insiders own 7.00% of the company’s stock.

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.