Okta, Inc. (NASDAQ:OKTA) Shares Sold by Inspire Investing LLC

Inspire Investing LLC reduced its position in shares of Okta, Inc. (NASDAQ:OKTA) by 3.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 18,804 shares of the company’s stock after selling 665 shares during the quarter. Inspire Investing LLC’s holdings in Okta were worth $1,482,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in OKTA. Itau Unibanco Holding S.A. acquired a new stake in shares of Okta during the 3rd quarter worth approximately $25,000. Future Financial Wealth Managment LLC acquired a new stake in Okta in the third quarter worth $26,000. Blue Trust Inc. increased its position in Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after buying an additional 191 shares during the period. Legacy Investment Solutions LLC bought a new stake in Okta in the third quarter valued at $32,000. Finally, Modus Advisors LLC acquired a new position in shares of Okta during the fourth quarter valued at $44,000. 86.64% of the stock is currently owned by institutional investors.

Okta Trading Down 0.6 %

Shares of NASDAQ OKTA opened at $88.07 on Friday. 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 12 month low of $70.56 and a 12 month high of $114.50. The company has a market cap of $15.09 billion, a price-to-earnings ratio of -251.63, a P/E/G ratio of 9.03 and a beta of 1.00. The business has a fifty day simple moving average of $81.88 and a 200-day simple moving average of $82.31.

Insiders Place Their Bets

In other Okta news, CEO Todd Mckinnon sold 233,028 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $82.31, for a total transaction of $19,180,534.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Larissa Schwartz sold 2,791 shares of the firm’s 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 completion of the sale, the insider now directly 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 378,255 shares of company stock worth $30,939,951. Company insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays increased their price objective on shares of Okta from $81.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. Jefferies Financial Group cut their price target on Okta from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. Citigroup boosted their price objective on Okta from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Needham & Company LLC raised their target price on Okta from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft lowered Okta from a “buy” rating to a “hold” rating and reduced their price target for the stock from $115.00 to $85.00 in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $104.55.

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.