Raymond James & Associates Sells 3,819 Shares of Okta, Inc. (NASDAQ:OKTA)

Raymond James & Associates decreased its holdings in Okta, Inc. (NASDAQ:OKTA) by 15.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,502 shares of the company’s stock after selling 3,819 shares during the quarter. Raymond James & Associates’ holdings in Okta were worth $1,947,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. NBC Securities Inc. bought a new position in Okta in the 3rd quarter valued at $27,000. International Assets Investment Management LLC bought a new stake in shares of Okta during the third quarter worth $29,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Okta during the third quarter worth $39,000. First Manhattan CO. LLC. raised its position in shares of Okta by 365.5% during the first quarter. First Manhattan CO. LLC. now owns 540 shares of the company’s stock worth $47,000 after acquiring an additional 424 shares during the last quarter. Finally, Coppell Advisory Solutions LLC bought a new stake in shares of Okta during the second quarter worth $46,000. Institutional investors own 86.64% of the company’s stock.

Okta Stock Performance

Shares of Okta stock opened at $93.80 on Thursday. The firm has a market cap of $15.70 billion, a price-to-earnings ratio of -43.23 and a beta of 1.00. The stock’s 50-day moving average is $98.69 and its 200-day moving average is $85.70. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.67 and a quick ratio of 1.67.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.35. The company had revenue of $605.00 million for 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%. Equities analysts predict that Okta, Inc. will post -1.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Robert W. Baird boosted their target price on Okta from $90.00 to $108.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Mizuho boosted their target price on Okta from $90.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Royal Bank of Canada boosted their target price on Okta from $95.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. BMO Capital Markets lifted their price objective on Okta from $80.00 to $110.00 and gave the stock a “market perform” rating in a research note on Thursday, February 29th. Finally, Truist Financial reaffirmed a “hold” rating and set a $105.00 price objective (up from $85.00) on shares of Okta in a research note on Thursday, February 29th. Twenty analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $100.39.

Insider Buying and Selling

In related news, CAO Shibu Ninan sold 4,279 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total transaction of $445,615.06. Following the sale, the chief accounting officer now owns 4,111 shares in the company, valued at $428,119.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Shibu Ninan sold 4,279 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total transaction of $445,615.06. Following the sale, the chief accounting officer now owns 4,111 shares in the company, valued at $428,119.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shellye L. Archambeau sold 5,000 shares of the company’s 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 sale, the director now owns 6,042 shares in the company, valued at approximately $646,252.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,779 shares of company stock worth $1,205,990. Corporate insiders own 7.36% of the company’s stock.

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.