Signaturefd LLC Sells 1,487 Shares of Okta, Inc. (NASDAQ:OKTA)

Signaturefd LLC reduced its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 27.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,861 shares of the company’s stock after selling 1,487 shares during the quarter. Signaturefd LLC’s holdings in Okta were worth $350,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in OKTA. NBC Securities Inc. bought a new position in shares of Okta during the 3rd quarter worth approximately $27,000. Harvest Fund Management Co. Ltd bought a new stake in Okta in the 3rd quarter valued at $39,000. Quintet Private Bank Europe S.A. bought a new stake in Okta in the 3rd quarter valued at $64,000. Tucker Asset Management LLC bought a new stake in Okta in the 3rd quarter valued at $65,000. Finally, UMB Bank n.a. boosted its stake in Okta by 150.5% in the 4th quarter. UMB Bank n.a. now owns 749 shares of the company’s stock valued at $68,000 after purchasing an additional 450 shares during the period. 86.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Okta from $74.00 to $88.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Piper Sandler boosted their price target on Okta from $85.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Citigroup boosted their price target on Okta from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Susquehanna boosted their price target on Okta from $70.00 to $115.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Finally, Canaccord Genuity Group boosted their price target on Okta from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Thursday, February 29th. Twenty analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $100.39.

Okta Trading Down 0.9 %

Okta stock opened at $92.93 on Friday. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50. The stock has a fifty day moving average of $99.52 and a 200-day moving average of $86.25. 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 earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.35. Okta had a negative return on equity of 5.69% and a negative net margin of 15.69%. The business had revenue of $605.00 million during the quarter, compared to analysts’ expectations of $586.25 million. Equities research analysts forecast that Okta, Inc. will post -1.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other Okta news, CAO Shibu Ninan sold 2,500 shares of the company’s 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 completion of the transaction, the chief accounting officer now owns 6,539 shares of the company’s stock, valued at approximately $590,013.97. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other 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 owns 6,042 shares of the company’s stock, valued at $646,252.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Shibu Ninan sold 2,500 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $90.23, for a total value of $225,575.00. Following the completion of the sale, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at approximately $590,013.97. The disclosure for this sale can be found here. Insiders sold a total of 11,779 shares of company stock valued at $1,205,990 in the last 90 days. 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.