Okta, Inc. (NASDAQ:OKTA) Shares Sold by Signaturefd LLC

Signaturefd LLC lessened its holdings in Okta, Inc. (NASDAQ:OKTA) by 27.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,861 shares of the company’s stock after selling 1,487 shares during the quarter. Signaturefd LLC’s holdings in Okta were worth $350,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in OKTA. Cerity Partners LLC boosted its holdings in Okta by 6,192.3% in the fourth quarter. Cerity Partners LLC now owns 3,172,223 shares of the company’s stock worth $287,181,000 after purchasing an additional 3,121,809 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Okta by 79.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 938,097 shares of the company’s stock worth $76,464,000 after purchasing an additional 416,028 shares during the period. Glenmede Trust Co. NA boosted its holdings in Okta by 1,042.4% in the third quarter. Glenmede Trust Co. NA now owns 210,981 shares of the company’s stock worth $17,197,000 after purchasing an additional 192,513 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Okta by 2,721.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 176,071 shares of the company’s stock worth $15,940,000 after purchasing an additional 169,830 shares during the period. Finally, Alua Capital Management LP acquired a new position in Okta in the third quarter worth $12,775,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Price Performance

Shares of Okta stock opened at $92.93 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average price is $99.52 and its two-hundred day moving average price is $86.25. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50.

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

Insider Buying and Selling

In related news, CAO Shibu Ninan sold 2,500 shares of Okta stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $90.23, for a total value of $225,575.00. Following the transaction, the chief accounting officer now owns 6,539 shares of the company’s stock, valued at approximately $590,013.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Shibu Ninan sold 2,500 shares of Okta stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $90.23, for a total value of $225,575.00. Following the transaction, the chief accounting officer now owns 6,539 shares of the company’s stock, valued at approximately $590,013.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $534,800.00. Following the completion of the transaction, the director now directly owns 6,042 shares in the company, valued at approximately $646,252.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,779 shares of company stock valued at $1,205,990. 7.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

OKTA has been the subject of a number of research reports. Oppenheimer lifted their price objective on shares of Okta from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Jefferies Financial Group reiterated a “hold” rating and issued a $95.00 target price (up from $85.00) on shares of Okta in a research note on Friday, January 5th. Bank of America upgraded Okta from an “underperform” rating to a “buy” rating and raised their target price for the company from $64.00 to $135.00 in a research note on Thursday, February 29th. Citigroup raised their target price on Okta from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Finally, Sanford C. Bernstein raised their target price on Okta from $84.00 to $114.00 and gave the company a “market perform” rating in a research note on Thursday, February 29th. Twenty research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $100.39.

Okta Profile

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.