Migdal Insurance & Financial Holdings Ltd. Sells 694 Shares of Okta, Inc. (NASDAQ:OKTA)

Migdal Insurance & Financial Holdings Ltd. cut its holdings in Okta, Inc. (NASDAQ:OKTA) by 3.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 19,692 shares of the company’s stock after selling 694 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Okta were worth $1,798,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. NBC Securities Inc. bought a new stake in shares of Okta during the third quarter worth $27,000. International Assets Investment Management LLC acquired a new position in Okta in the 3rd quarter worth $29,000. Harvest Fund Management Co. Ltd acquired a new position in Okta in the 3rd quarter worth $39,000. First Manhattan CO. LLC. increased its holdings in Okta by 365.5% during the 1st quarter. First Manhattan CO. LLC. now owns 540 shares of the company’s stock worth $47,000 after purchasing an additional 424 shares in the last quarter. Finally, Coppell Advisory Solutions LLC acquired a new stake in shares of Okta in the 2nd quarter valued at about $46,000. 86.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Mizuho upped their price objective on Okta from $90.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Bank of America raised shares of Okta from an “underperform” rating to a “buy” rating and raised their price target for the stock from $64.00 to $135.00 in a research note on Thursday, February 29th. Susquehanna lifted their price objective on shares of Okta from $70.00 to $115.00 and gave the company a “neutral” rating in a report on Monday, March 4th. BMO Capital Markets increased their target price on shares of Okta from $80.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, February 29th. Finally, Oppenheimer lifted their price target on shares of Okta from $110.00 to $125.00 and gave the company an “outperform” 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 stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $100.39.

Okta Stock Down 1.3 %

Shares of OKTA opened at $93.80 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.67 and a quick ratio of 1.67. The company’s 50-day moving average is $98.69 and its 200-day moving average is $85.70. Okta, Inc. has a fifty-two week low of $65.04 and a fifty-two week high of $114.50.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.35. The firm had revenue of $605.00 million for the quarter, compared to analysts’ expectations 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 anticipate that Okta, Inc. will post -1.51 EPS for the current year.

Insider Transactions at Okta

In related news, CAO Shibu Ninan sold 2,500 shares of the business’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 6,539 shares in the company, valued at approximately $590,013.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Shellye L. Archambeau sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $106.96, for a total transaction of $534,800.00. Following the transaction, the director now directly owns 6,042 shares of the company’s stock, valued at $646,252.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Shibu Ninan sold 2,500 shares of the business’s stock in a transaction that occurred on 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 owns 6,539 shares of the company’s stock, valued at $590,013.97. 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. Company insiders own 7.36% of the company’s stock.

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.