Blair William & Co. IL Sells 1,032 Shares of Okta, Inc. (NASDAQ:OKTA)

Blair William & Co. IL decreased its stake in Okta, Inc. (NASDAQ:OKTA) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,172 shares of the company’s stock after selling 1,032 shares during the period. Blair William & Co. IL’s holdings in Okta were worth $6,239,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Frank Rimerman Advisors LLC boosted its position in Okta by 2.4% during the fourth quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock valued at $352,000 after purchasing an additional 105 shares during the last quarter. Stephens Inc. AR boosted its holdings in shares of Okta by 5.0% in the 4th quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock valued at $260,000 after buying an additional 157 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Okta by 2.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock valued at $605,000 after buying an additional 180 shares during the last quarter. Great Lakes Advisors LLC grew its stake in shares of Okta by 2.7% in the fourth quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company’s stock valued at $557,000 after buying an additional 184 shares in the last quarter. Finally, CHICAGO TRUST Co NA increased its holdings in Okta by 6.5% during the fourth quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock worth $246,000 after buying an additional 191 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

OKTA has been the subject of a number of recent analyst reports. BMO Capital Markets increased their price target on shares of Okta from $105.00 to $130.00 and gave the company a “market perform” rating in a research note on Monday, March 10th. The Goldman Sachs Group raised their target price on shares of Okta from $107.00 to $123.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. DA Davidson raised Okta from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $90.00 to $125.00 in a research report on Tuesday, March 4th. Jefferies Financial Group raised their price objective on Okta from $90.00 to $110.00 and gave the company a “hold” rating in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. lifted their target price on Okta from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.29.

Insiders Place Their Bets

In other Okta news, insider Larissa Schwartz sold 11,552 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the transaction, the insider now owns 22,125 shares of the company’s stock, valued at approximately $2,524,241.25. The trade was a 34.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brett Tighe sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total transaction of $445,000.00. Following the completion of the sale, the chief financial officer now owns 112,533 shares in the company, valued at approximately $10,015,437. The trade was a 4.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 761,197 shares of company stock worth $70,662,533 over the last three months. Insiders own 7.00% of the company’s stock.

Okta Stock Performance

NASDAQ OKTA opened at $107.99 on Monday. The firm’s 50 day simple moving average is $100.33 and its 200 day simple moving average is $85.87. The firm has a market capitalization of $18.75 billion, a price-to-earnings ratio of -308.54, a P/E/G ratio of 6.42 and a beta of 1.09. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $118.07.

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.