Selective Wealth Management Inc. Sells 3,137 Shares of Okta, Inc. (NASDAQ:OKTA)

Selective Wealth Management Inc. reduced its position in shares of Okta, Inc. (NASDAQ:OKTA) by 7.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,980 shares of the company’s stock after selling 3,137 shares during the period. Okta makes up approximately 1.3% of Selective Wealth Management Inc.’s investment portfolio, making the stock its 15th biggest position. Selective Wealth Management Inc.’s holdings in Okta were worth $3,155,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Okta by 2.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock worth $605,000 after buying an additional 180 shares in the last quarter. Bleakley Financial Group LLC grew its position in Okta by 4.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after acquiring an additional 182 shares during the last quarter. Creative Financial Designs Inc. ADV increased its holdings in Okta by 12.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock worth $127,000 after purchasing an additional 188 shares in the last quarter. Blue Trust Inc. raised its position in Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after purchasing an additional 191 shares during the last quarter. Finally, CHICAGO TRUST Co NA boosted its stake in shares of Okta by 6.5% during the fourth quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock valued at $246,000 after purchasing an additional 191 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on OKTA shares. Morgan Stanley upgraded shares of Okta from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $92.00 to $97.00 in a report on Monday, December 2nd. Susquehanna raised their price target on shares of Okta from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Guggenheim reiterated a “buy” rating and set a $130.00 price target on shares of Okta in a report on Wednesday, December 4th. Stifel Nicolaus increased their price objective on Okta from $108.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group cut their target price on Okta from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Okta presently has an average rating of “Hold” and an average price target of $104.61.

Insiders Place Their Bets

In other Okta news, insider Larissa Schwartz sold 2,704 shares of Okta 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 transaction, the insider now directly owns 24,462 shares of the company’s stock, valued at $1,969,191. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd Mckinnon sold 233,028 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $82.31, for a total transaction of $19,180,534.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 369,949 shares of company stock valued at $30,201,213. Corporate insiders own 7.00% of the company’s stock.

Okta Trading Up 1.9 %

OKTA opened at $87.29 on Friday. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $114.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The company’s 50-day moving average is $81.05 and its 200 day moving average is $82.48.

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.