Moody National Bank Trust Division Lowers Holdings in Okta, Inc. (NASDAQ:OKTA)

Moody National Bank Trust Division lowered its stake in shares of Okta, Inc. (NASDAQ:OKTAGet Rating) by 56.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 4,161 shares of the company’s stock after selling 5,290 shares during the period. Moody National Bank Trust Division’s holdings in Okta were worth $376,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. CI Investments Inc. lifted its holdings in Okta by 944.4% in the first quarter. CI Investments Inc. now owns 188 shares of the company’s stock valued at $28,000 after acquiring an additional 170 shares during the period. Addison Advisors LLC boosted its holdings in Okta by 121.4% during the first quarter. Addison Advisors LLC now owns 228 shares of the company’s stock worth $34,000 after buying an additional 125 shares in the last quarter. GoalVest Advisory LLC acquired a new stake in Okta during the first quarter valued at $37,000. Richelieu Gestion PLC purchased a new position in Okta in the first quarter valued at $51,000. Finally, Baldwin Brothers LLC MA raised its position in shares of Okta by 260.0% in the first quarter. Baldwin Brothers LLC MA now owns 360 shares of the company’s stock worth $54,000 after acquiring an additional 260 shares during the period. Institutional investors and hedge funds own 75.47% of the company’s stock.

Wall Street Analysts Forecast Growth

OKTA has been the subject of several recent analyst reports. Piper Sandler cut their price target on Okta from $130.00 to $125.00 and set an “overweight” rating for the company in a research note on Thursday, September 1st. Stephens downgraded Okta from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $145.00 to $80.00 in a research note on Thursday, September 1st. Stifel Nicolaus dropped their price target on shares of Okta from $115.00 to $85.00 and set a “hold” rating on the stock in a research note on Thursday, September 1st. Wolfe Research reduced their price objective on shares of Okta from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Thursday, September 1st. Finally, Oppenheimer dropped their target price on shares of Okta from $140.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, September 1st. Fourteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Okta presently has an average rating of “Hold” and a consensus price target of $116.73.

Insider Activity

In related news, CEO Todd Mckinnon sold 3,921 shares of Okta stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $59.39, for a total value of $232,868.19. Following the completion of the sale, the chief executive officer now owns 15,012 shares in the company, valued at approximately $891,562.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Ledger Susan St. sold 30,760 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $59.39, for a total value of $1,826,836.40. Following the completion of the transaction, the insider now owns 39,106 shares of the company’s stock, valued at $2,322,505.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Todd Mckinnon sold 3,921 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $59.39, for a total transaction of $232,868.19. Following the sale, the chief executive officer now directly owns 15,012 shares in the company, valued at $891,562.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,168 shares of company stock valued at $2,449,229. Company insiders own 7.60% of the company’s stock.

Okta Trading Down 0.2 %

OKTA opened at $58.91 on Tuesday. The business’s 50 day moving average price is $89.24 and its 200 day moving average price is $107.85. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.38 and a current ratio of 2.38. The stock has a market capitalization of $9.36 billion, a PE ratio of -9.98 and a beta of 1.08. Okta, Inc. has a one year low of $57.71 and a one year high of $272.27.

Okta (NASDAQ:OKTAGet Rating) last released its quarterly earnings results on Wednesday, August 31st. The company reported ($1.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.41) by $0.22. The business had revenue of $435.38 million during the quarter, compared to analysts’ expectations of $430.66 million. Okta had a negative return on equity of 13.18% and a negative net margin of 57.21%. The company’s revenue was up 43.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.35) EPS. As a group, equities research analysts expect that Okta, Inc. will post -5.15 EPS for the current year.

Okta Company Profile

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Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products and services, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access applications in the cloud or on-premise from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, Web applications, and data; Lifecycle Management that enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; Access Gateway that enables organizations to extend the Okta Identity Cloud from the cloud to their existing on-premise applications; and Advanced Server Access to secure cloud infrastructure.

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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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