Simplicity Solutions LLC Reduces Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Simplicity Solutions LLC reduced its position in Okta, Inc. (NASDAQ:OKTA) by 53.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,257 shares of the company’s stock after selling 17,610 shares during the quarter. Simplicity Solutions LLC’s holdings in Okta were worth $1,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. NBC Securities Inc. purchased a new stake in Okta in the 3rd quarter worth about $27,000. International Assets Investment Management LLC purchased a new position in shares of Okta in the third quarter worth about $29,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Okta in the third quarter valued at approximately $39,000. Alpha Paradigm Partners LLC bought a new position in Okta in the 3rd quarter worth approximately $41,000. Finally, Coppell Advisory Solutions LLC purchased a new position in Okta in the 2nd quarter valued at approximately $46,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Stock Down 4.1 %

OKTA opened at $94.23 on Tuesday. The firm’s 50 day simple moving average is $98.22 and its two-hundred day simple moving average is $85.55. The company has a market capitalization of $15.77 billion, a PE ratio of -43.42 and a beta of 1.00. Okta, Inc. has a 1-year low of $65.04 and a 1-year high of $114.50. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Susquehanna increased their target price on Okta from $70.00 to $115.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. BMO Capital Markets raised their target price on Okta from $80.00 to $110.00 and gave the stock a “market perform” rating in a research note on Thursday, February 29th. Jefferies Financial Group reiterated a “hold” rating and set a $95.00 price target (up from $85.00) on shares of Okta in a research report on Friday, January 5th. Sanford C. Bernstein raised their price objective on shares of Okta from $84.00 to $114.00 and gave the company a “market perform” rating in a research report on Thursday, February 29th. Finally, The Goldman Sachs Group upped their target price on shares of Okta from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Twenty equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $100.39.

Insider Buying and Selling at Okta

In other news, Director Shellye L. Archambeau sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $106.96, for a total value of $534,800.00. Following the sale, the director now directly owns 6,042 shares in the company, valued at approximately $646,252.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Shibu Ninan sold 2,500 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $90.23, for a total value of $225,575.00. Following the completion of the sale, the chief accounting officer now owns 6,539 shares in the company, valued at approximately $590,013.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shellye L. Archambeau sold 5,000 shares of Okta stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the transaction, the director now directly owns 6,042 shares of the company’s stock, valued at $646,252.32. The disclosure for this sale can be found here. Insiders sold 11,779 shares of company stock worth $1,205,990 over the last 90 days. 7.36% of the stock is owned by insiders.

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.