First Trust Direct Indexing L.P. Sells 324 Shares of Okta, Inc. (NASDAQ:OKTA)

First Trust Direct Indexing L.P. trimmed its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 11.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,460 shares of the company’s stock after selling 324 shares during the period. First Trust Direct Indexing L.P.’s holdings in Okta were worth $223,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in OKTA. Commonwealth Equity Services LLC boosted its position in Okta by 1.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 28,302 shares of the company’s stock worth $2,307,000 after acquiring an additional 333 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Okta by 48.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 19,567 shares of the company’s stock worth $1,595,000 after purchasing an additional 6,350 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Okta by 20.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,018 shares of the company’s stock valued at $5,626,000 after purchasing an additional 11,891 shares in the last quarter. Strs Ohio bought a new position in Okta in the third quarter valued at $871,000. Finally, IFM Investors Pty Ltd increased its stake in Okta by 12.8% in the 3rd quarter. IFM Investors Pty Ltd now owns 31,118 shares of the company’s stock valued at $2,536,000 after buying an additional 3,537 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

Insider Activity at Okta

In other Okta news, Director Shellye L. Archambeau sold 5,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $106.96, for a total value of $534,800.00. Following the completion of the sale, the director now directly owns 6,042 shares of the company’s stock, valued at $646,252.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Shellye L. Archambeau sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $646,252.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Shibu Ninan sold 2,500 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $590,013.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,779 shares of company stock valued at $1,205,990. Insiders own 7.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on OKTA shares. JPMorgan Chase & Co. raised their price objective on Okta from $74.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Evercore ISI boosted their target price on shares of Okta from $70.00 to $102.00 and gave the stock an “in-line” rating in a report on Thursday, February 29th. The Goldman Sachs Group increased their price target on shares of Okta from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Bank of America upgraded shares of Okta from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $64.00 to $135.00 in a research note on Thursday, February 29th. Finally, Citigroup upped their target price on shares of Okta from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Twenty research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Okta currently has an average rating of “Hold” and an average price target of $100.39.

Okta Stock Performance

Okta stock opened at $97.54 on Thursday. Okta, Inc. has a fifty-two week low of $65.04 and a fifty-two week high of $114.50. The firm’s fifty day moving average price is $101.33 and its 200-day moving average price is $86.96. The stock has a market cap of $16.33 billion, a P/E ratio of -44.95 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 1.67.

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 the consensus estimate of ($0.49) by $0.35. The firm had revenue of $605.00 million during the quarter, compared to analyst estimates of $586.25 million. Okta had a negative return on equity of 5.69% and a negative net margin of 15.69%. On average, equities research analysts expect that Okta, Inc. will post -1.51 earnings per share for the current fiscal year.

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.