Dimensional Fund Advisors LP Sells 5,920 Shares of Okta, Inc. (NASDAQ:OKTA)

Dimensional Fund Advisors LP decreased its position in Okta, Inc. (NASDAQ:OKTA) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,088,593 shares of the company’s stock after selling 5,920 shares during the quarter. Dimensional Fund Advisors LP owned about 0.64% of Okta worth $85,795,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Bank of Jackson Hole Trust acquired a new position in Okta in the 4th quarter valued at $25,000. TD Private Client Wealth LLC grew its stake in shares of Okta by 3,507.7% in the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock valued at $37,000 after acquiring an additional 456 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in Okta during the fourth quarter worth about $43,000. Wingate Wealth Advisors Inc. acquired a new stake in Okta in the 4th quarter worth about $44,000. Finally, Modus Advisors LLC bought a new stake in Okta in the 4th quarter valued at about $44,000. Institutional investors own 86.64% of the company’s stock.

Okta Price Performance

Shares of OKTA opened at $112.54 on Wednesday. The firm has a market cap of $19.54 billion, a PE ratio of -321.54, a price-to-earnings-growth ratio of 6.42 and a beta of 1.07. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $118.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The business’s 50 day moving average price is $102.92 and its two-hundred day moving average price is $89.93.

Insider Activity at Okta

In related news, CRO Jonathan James Addison sold 7,005 shares of the business’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $101.19, for a total value of $708,835.95. Following the completion of the sale, the executive now directly owns 19,067 shares of the company’s stock, valued at $1,929,389.73. The trade was a 26.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Larissa Schwartz sold 11,552 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the transaction, the insider now owns 22,125 shares in the company, valued at approximately $2,524,241.25. The trade was a 34.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 227,192 shares of company stock worth $23,426,056 in the last quarter. Company insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Cantor Fitzgerald initiated coverage on shares of Okta in a report on Monday, March 31st. They set an “overweight” rating and a $130.00 target price on the stock. Susquehanna lifted their price objective on Okta from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. BMO Capital Markets increased their target price on Okta from $105.00 to $130.00 and gave the stock a “market perform” rating in a report on Monday, March 10th. Scotiabank upped their price objective on shares of Okta from $94.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 4th. Finally, Barclays raised their target price on shares of Okta from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Okta has an average rating of “Moderate Buy” and a consensus price target of $116.12.

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.