Okta, Inc. (NASDAQ:OKTA) Shares Sold by Mach 1 Financial Group LLC

Mach 1 Financial Group LLC trimmed its position in shares of Okta, Inc. (NASDAQ:OKTA) by 16.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,468 shares of the company’s stock after selling 1,082 shares during the period. Mach 1 Financial Group LLC’s holdings in Okta were worth $495,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in Okta during the 3rd quarter valued at $27,000. GAMMA Investing LLC bought a new position in Okta during the 4th quarter valued at $29,000. Harvest Fund Management Co. Ltd bought a new position in shares of Okta in the 3rd quarter worth about $39,000. UMB Bank n.a. lifted its position in shares of Okta by 150.5% in the 4th quarter. UMB Bank n.a. now owns 749 shares of the company’s stock worth $68,000 after buying an additional 450 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its position in shares of Okta by 61.6% in the 4th quarter. Lindbrook Capital LLC now owns 782 shares of the company’s stock worth $71,000 after buying an additional 298 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Shibu Ninan sold 2,500 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $90.23, for a total transaction of $225,575.00. Following the transaction, the chief accounting officer now owns 6,539 shares of the company’s stock, valued at $590,013.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Okta news, CAO Shibu Ninan sold 2,500 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $90.23, for a total value of $225,575.00. Following the sale, the chief accounting officer now owns 6,539 shares of the company’s stock, valued at approximately $590,013.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Shellye L. Archambeau sold 5,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $106.96, for a total transaction of $534,800.00. Following the completion of the sale, the director now directly owns 6,042 shares in the company, valued at approximately $646,252.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,779 shares of company stock valued at $1,205,990. 7.36% of the stock is owned by company insiders.

Okta Stock Down 0.5 %

Shares of OKTA stock traded down $0.43 during trading on Wednesday, hitting $92.55. 123,902 shares of the company were exchanged, compared to its average volume of 1,883,113. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 1.67. The firm has a market capitalization of $15.49 billion, a price-to-earnings ratio of -42.85 and a beta of 1.00. The business’s 50-day simple moving average is $99.67 and its 200 day simple moving average is $86.37. Okta, Inc. has a twelve month low of $65.04 and a twelve month high of $114.50.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.35. The business had revenue of $605.00 million during the quarter, compared to analysts’ expectations of $586.25 million. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. As a group, analysts forecast that Okta, Inc. will post -1.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

OKTA has been the topic of a number of recent research reports. Bank of America upgraded shares of Okta from an “underperform” rating to a “buy” rating and raised their price target for the stock from $64.00 to $135.00 in a research report on Thursday, February 29th. Robert W. Baird raised their price target on shares of Okta from $90.00 to $108.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Citigroup lifted their price objective on shares of Okta from $75.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Mizuho lifted their price objective on shares of Okta from $90.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $95.00 price objective (up from $85.00) on shares of Okta in a research report on Friday, January 5th. Twenty equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $100.39.

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.