Stratos Wealth Partners LTD. Has $439,000 Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Stratos Wealth Partners LTD. lowered its position in shares of Okta, Inc. (NASDAQ:OKTA) by 25.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,569 shares of the company’s stock after selling 1,938 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Okta were worth $439,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new position in Okta in the third quarter worth $25,000. Blue Trust Inc. lifted its position in Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after buying an additional 191 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in Okta during the 3rd quarter worth about $32,000. Modus Advisors LLC acquired a new stake in Okta in the 4th quarter valued at about $44,000. Finally, Planning Capital Management Corp bought a new position in shares of Okta in the third quarter worth about $49,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on OKTA. Westpark Capital reissued a “buy” rating and issued a $140.00 price target on shares of Okta in a report on Wednesday, December 4th. DA Davidson increased their price objective on Okta from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Truist Financial restated a “hold” rating and set a $92.00 target price (up previously from $80.00) on shares of Okta in a research report on Wednesday, December 4th. Guggenheim reiterated a “buy” rating and issued a $130.00 price target on shares of Okta in a report on Wednesday, December 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $115.00 price objective on shares of Okta in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Okta has an average rating of “Hold” and a consensus price target of $104.87.

Insider Transactions at Okta

In other Okta news, CFO Brett Tighe sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00. Following the completion of the transaction, the chief financial officer now owns 112,533 shares of the company’s stock, valued at $10,015,437. This represents a 4.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction that occurred 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 completion of the sale, the insider now owns 24,462 shares in the company, valued at $1,969,191. This trade represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 978,168 shares of company stock valued at $84,758,269 over the last quarter. Corporate insiders own 7.00% of the company’s stock.

Okta Stock Performance

Shares of OKTA stock opened at $95.78 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $114.50. The company’s 50 day moving average price is $86.61 and its two-hundred day moving average price is $82.08. The company has a market capitalization of $16.41 billion, a P/E ratio of -273.66, a price-to-earnings-growth ratio of 6.58 and a beta of 1.03.

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.