Thrivent Financial for Lutherans Cuts Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Thrivent Financial for Lutherans reduced its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 29.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,230 shares of the company’s stock after selling 5,542 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Okta were worth $1,042,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of OKTA. Parallel Advisors LLC increased its stake in Okta by 37.6% in the 4th quarter. Parallel Advisors LLC now owns 4,670 shares of the company’s stock worth $368,000 after purchasing an additional 1,275 shares during the period. Creative Financial Designs Inc. ADV grew its holdings in Okta by 23.9% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,111 shares of the company’s stock worth $166,000 after acquiring an additional 407 shares during the last quarter. Frank Rimerman Advisors LLC grew its holdings in Okta by 2.4% in the 4th quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock worth $352,000 after acquiring an additional 105 shares during the last quarter. LBP AM SA purchased a new position in shares of Okta in the fourth quarter valued at about $1,986,000. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of Okta by 2.8% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 34,695 shares of the company’s stock valued at $2,762,000 after acquiring an additional 959 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 390,000 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total transaction of $33,965,100.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brett Tighe sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total transaction of $445,000.00. Following the sale, the chief financial officer now directly owns 112,533 shares in the company, valued at approximately $10,015,437. The trade was a 4.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 761,197 shares of company stock worth $70,662,533. Insiders own 7.00% of the company’s stock.

Okta Price Performance

Shares of OKTA opened at $104.69 on Wednesday. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $118.07. The company has a market capitalization of $18.17 billion, a P/E ratio of -299.11, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. The firm has a 50 day moving average of $101.00 and a 200 day moving average of $86.31. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. DA Davidson upgraded Okta from a “neutral” rating to a “buy” rating and boosted their price target for the company from $90.00 to $125.00 in a report on Tuesday, March 4th. JMP Securities reissued a “market perform” rating on shares of Okta in a research note on Wednesday, December 4th. Jefferies Financial Group raised their price target on Okta from $90.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. Guggenheim reissued a “buy” rating and set a $130.00 price objective on shares of Okta in a research report on Wednesday, December 4th. Finally, KeyCorp raised their target price on shares of Okta from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, Okta currently has an average rating of “Moderate Buy” and an average price target of $116.09.

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.