Cambridge Investment Research Advisors Inc. Sells 833 Shares of Okta, Inc. (NASDAQ:OKTA)

Cambridge Investment Research Advisors Inc. cut its position in Okta, Inc. (NASDAQ:OKTA – Get Rating) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,707 shares of the company’s stock after selling 833 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Okta were worth $1,210,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in OKTA. Glassman Wealth Services raised its holdings in Okta by 150.7% in the fourth quarter. Glassman Wealth Services now owns 361 shares of the company’s stock worth $25,000 after purchasing an additional 217 shares in the last quarter. Lindbrook Capital LLC increased its holdings in shares of Okta by 107.1% during the fourth quarter. Lindbrook Capital LLC now owns 522 shares of the company’s stock valued at $36,000 after acquiring an additional 270 shares in the last quarter. Alpha Paradigm Partners LLC acquired a new position in shares of Okta during the third quarter valued at about $41,000. Exos TFP Holdings LLC acquired a new position in shares of Okta during the third quarter valued at about $71,000. Finally, Baldwin Brothers LLC MA increased its holdings in shares of Okta by 197.5% during the fourth quarter. Baldwin Brothers LLC MA now owns 1,071 shares of the company’s stock valued at $73,000 after acquiring an additional 711 shares in the last quarter. 73.02% of the stock is currently owned by institutional investors.

Insider Activity at Okta

In related news, insider Larissa Schwartz sold 452 shares of the stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $82.48, for a total value of $37,280.96. Following the completion of the transaction, the insider now directly owns 20,149 shares of the company’s stock, valued at approximately $1,661,889.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Larissa Schwartz sold 452 shares of the stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $82.48, for a total value of $37,280.96. Following the completion of the transaction, the insider now directly owns 20,149 shares of the company’s stock, valued at approximately $1,661,889.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Todd Mckinnon sold 3,117 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $82.48, for a total value of $257,090.16. Following the completion of the sale, the chief executive officer now directly owns 22,813 shares of the company’s stock, valued at $1,881,616.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,473 shares of company stock valued at $533,244. 7.36% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Okta in a report on Tuesday, February 14th. They set a “sell” rating and a $70.00 price objective on the stock. Morgan Stanley upped their price objective on shares of Okta from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, February 28th. BMO Capital Markets upped their target price on Okta from $80.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, March 2nd. DA Davidson upped their target price on Okta from $60.00 to $80.00 in a research report on Thursday, March 2nd. Finally, Moffett Nathanson upped their target price on Okta from $71.00 to $85.00 and gave the company an “underperform” rating in a research report on Thursday, March 2nd. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, Okta has a consensus rating of “Moderate Buy” and a consensus price target of $86.71.

Okta Stock Up 1.0 %

NASDAQ OKTA opened at $81.19 on Friday. The business has a fifty day moving average price of $78.33 and a 200 day moving average price of $70.38. Okta, Inc. has a one year low of $44.12 and a one year high of $111.35. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.20 and a quick ratio of 2.20.

Okta (NASDAQ:OKTA – Get Rating) last posted its quarterly earnings data on Wednesday, March 1st. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.11. Okta had a negative return on equity of 12.53% and a negative net margin of 43.87%. The firm had revenue of $510.00 million during the quarter, compared to the consensus estimate of $488.99 million. On average, equities research analysts forecast that Okta, Inc. will post -3.05 EPS for the current fiscal year.

Okta Company Profile

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Okta, Inc engages in the provision of an identity management platform for enterprises. It operates through the United States and International geographical segments. The firm’s products include single sign-on, multi-factor authentication, API access management, authentication, user management, and lifecycle management.