Courier Capital LLC Lowers Position in Okta, Inc. (NASDAQ:OKTA)

Courier Capital LLC lessened its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 31.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 9,924 shares of the company’s stock after selling 4,525 shares during the period. Courier Capital LLC’s holdings in Okta were worth $782,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new position in shares of Okta during the 3rd quarter valued at approximately $25,000. Future Financial Wealth Managment LLC bought a new position in shares of Okta in the third quarter worth approximately $26,000. Blue Trust Inc. boosted its position in shares of Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of Okta during the 3rd quarter valued at $32,000. Finally, Modus Advisors LLC bought a new stake in shares of Okta during the 4th quarter valued at $44,000. Institutional investors own 86.64% of the company’s stock.

Okta Trading Down 1.0 %

OKTA stock opened at $83.49 on Tuesday. The firm’s fifty day simple moving average is $80.34 and its two-hundred day simple moving average is $82.57. The stock has a market capitalization of $14.31 billion, a price-to-earnings ratio of -238.54, a price-to-earnings-growth ratio of 8.61 and a beta of 1.00. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50.

Analyst Upgrades and Downgrades

OKTA has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered Okta from a “buy” rating to a “hold” rating and cut their price target for the stock from $115.00 to $85.00 in a research note on Tuesday, November 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $101.00 target price on shares of Okta in a research report on Wednesday, December 4th. Morgan Stanley raised Okta from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $92.00 to $97.00 in a report on Monday, December 2nd. Jefferies Financial Group cut their price objective on shares of Okta from $100.00 to $90.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Finally, BMO Capital Markets boosted their target price on shares of Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $104.45.

Insider Activity at Okta

In other Okta news, CEO Todd Mckinnon sold 224,533 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $74.62, for a total value of $16,754,652.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Larissa Schwartz sold 2,791 shares of Okta stock in a transaction on Monday, November 4th. The stock was sold at an average price of $71.50, for a total value of $199,556.50. Following the sale, the insider now owns 22,125 shares of the company’s stock, valued at approximately $1,581,937.50. This trade represents a 11.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 594,482 shares of company stock worth $46,955,865. Insiders own 7.00% 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.