Okta, Inc. (NASDAQ:OKTA) Stock Position Lessened by Inspire Investing LLC

Inspire Investing LLC trimmed its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 27.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,469 shares of the company’s stock after selling 7,413 shares during the period. Inspire Investing LLC’s holdings in Okta were worth $1,447,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fisher Asset Management LLC acquired a new stake in shares of Okta in the 4th quarter worth approximately $296,000. Wahed Invest LLC lifted its position in Okta by 8.6% in the fourth quarter. Wahed Invest LLC now owns 2,606 shares of the company’s stock worth $236,000 after purchasing an additional 207 shares during the period. Vanguard Group Inc. boosted its stake in Okta by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 15,719,619 shares of the company’s stock valued at $1,423,097,000 after purchasing an additional 438,496 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Okta by 19.5% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 3,405 shares of the company’s stock valued at $308,000 after purchasing an additional 556 shares during the period. Finally, Symmetry Partners LLC bought a new stake in shares of Okta in the 1st quarter worth $221,000. 86.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Okta

In other news, Director Jacques Frederic Kerrest sold 26,618 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $100.29, for a total transaction of $2,669,519.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Okta news, CEO Todd Mckinnon sold 179,687 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $93.42, for a total transaction of $16,786,359.54. Following the completion of the transaction, the chief executive officer now owns 47,883 shares of the company’s stock, valued at $4,473,229.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jacques Frederic Kerrest sold 26,618 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $100.29, for a total transaction of $2,669,519.22. The disclosure for this sale can be found here. Insiders have sold a total of 540,439 shares of company stock worth $46,557,801 over the last three months. Corporate insiders own 7.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on OKTA shares. Scotiabank decreased their target price on Okta from $104.00 to $92.00 and set a “sector perform” rating for the company in a research note on Thursday, August 29th. Citigroup lowered their price objective on shares of Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Susquehanna cut their target price on shares of Okta from $110.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. BMO Capital Markets lifted their price target on shares of Okta from $100.00 to $103.00 and gave the stock a “market perform” rating in a research report on Thursday, August 29th. Finally, The Goldman Sachs Group dropped their price target on Okta from $130.00 to $113.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Okta currently has an average rating of “Hold” and an average price target of $104.43.

Okta Trading Down 0.8 %

NASDAQ:OKTA opened at $77.34 on Monday. The company has a market capitalization of $13.01 billion, a P/E ratio of -46.31, a P/E/G ratio of 26.91 and a beta of 1.02. The stock’s 50 day moving average price is $81.43 and its 200 day moving average price is $90.06. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.29. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. The company had revenue of $646.00 million for the quarter, compared to analyst estimates of $632.24 million. On average, research analysts forecast that Okta, Inc. will post 0.12 EPS for the current fiscal year.

Okta Company 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.