Mission Wealth Management LP Decreases Stock Position in Okta, Inc. (NASDAQ:OKTA)

Mission Wealth Management LP reduced its position in Okta, Inc. (NASDAQ:OKTA) by 33.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,969 shares of the company’s stock after selling 2,009 shares during the period. Mission Wealth Management LP’s holdings in Okta were worth $359,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Commonwealth Equity Services LLC grew its holdings 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 in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Okta by 8.8% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 36,000 shares of the company’s stock valued at $2,934,000 after purchasing an additional 2,900 shares during the period. Kingswood Wealth Advisors LLC bought a new position in Okta during the 3rd quarter worth $223,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Okta by 9.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 91,807 shares of the company’s stock valued at $7,483,000 after acquiring an additional 7,986 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of Okta by 48.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 19,567 shares of the company’s stock worth $1,595,000 after acquiring an additional 6,350 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Trading Up 1.1 %

OKTA stock opened at $96.55 on Friday. The business has a fifty day moving average of $100.36 and a 200-day moving average of $86.55. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.20. The company has a market cap of $16.16 billion, a P/E ratio of -44.49 and a beta of 0.98. Okta, Inc. has a twelve month low of $65.04 and a twelve month high of $114.50.

Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 15.69% and a negative return on equity of 5.69%. As a group, equities research analysts expect that Okta, Inc. will post -1.51 EPS for the current year.

Insider Buying and Selling at Okta

In other Okta news, CAO Shibu Ninan sold 2,500 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $90.23, for a total value of $225,575.00. Following the transaction, the chief accounting officer now owns 6,539 shares of the company’s stock, valued at $590,013.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Okta news, Director Shellye L. Archambeau sold 5,000 shares of the 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 completion of the sale, the director now directly owns 6,042 shares in the company, valued at $646,252.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Shibu Ninan sold 2,500 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $90.23, for a total value of $225,575.00. Following the sale, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at $590,013.97. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,779 shares of company stock worth $1,205,990. Insiders own 7.36% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OKTA. JPMorgan Chase & Co. increased their price objective on Okta from $74.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Royal Bank of Canada upped their price target on shares of Okta from $95.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Evercore ISI raised their price objective on shares of Okta from $70.00 to $102.00 and gave the company an “in-line” rating in a research note on Thursday, February 29th. Citigroup lifted their price target on Okta from $75.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Finally, Bank of America upgraded shares of Okta from an “underperform” rating to a “buy” rating and raised their price objective for the company from $64.00 to $135.00 in a research report 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 MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $100.39.

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.