Okta, Inc. (NASDAQ:OKTA) Shares Sold by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. decreased its stake in Okta, Inc. (NASDAQ:OKTA) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,271 shares of the company’s stock after selling 4,591 shares during the quarter. Okta makes up 1.1% of Stanley Laman Group Ltd.’s holdings, making the stock its 23rd biggest position. Stanley Laman Group Ltd.’s holdings in Okta were worth $7,448,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of OKTA. NBC Securities Inc. acquired a new stake in shares of Okta in the third quarter valued at about $27,000. GAMMA Investing LLC acquired a new position in Okta during the fourth quarter worth about $29,000. Harvest Fund Management Co. Ltd acquired a new position in Okta during the third quarter worth about $39,000. Quintet Private Bank Europe S.A. acquired a new position in Okta during the third quarter worth about $64,000. Finally, Tucker Asset Management LLC acquired a new position in Okta during the third quarter worth about $65,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

OKTA has been the topic of a number of recent research reports. Sanford C. Bernstein boosted their price target on shares of Okta from $84.00 to $114.00 and gave the stock a “market perform” rating in a research report on Thursday, February 29th. BMO Capital Markets boosted their price target on shares of Okta from $80.00 to $110.00 and gave the stock a “market perform” rating in a research report on Thursday, February 29th. Citigroup boosted their target price on shares of Okta from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. JPMorgan Chase & Co. boosted their target price on shares of Okta from $74.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Finally, Bank of America upgraded shares of Okta from an “underperform” rating to a “buy” rating and boosted their target price for the company from $64.00 to $135.00 in a report on Thursday, February 29th. Twenty research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $100.39.

Insider Buying and Selling at Okta

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

Okta Price Performance

Shares of OKTA traded down $0.83 during trading hours on Thursday, reaching $92.93. The company had a trading volume of 840,566 shares, compared to its average volume of 1,937,875. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. The firm has a 50 day simple moving average of $99.52 and a 200-day simple moving average of $86.25. Okta, Inc. has a 12-month low of $65.04 and a 12-month high of $114.50. The company has a market capitalization of $15.56 billion, a price-to-earnings ratio of -42.82 and a beta of 1.00.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.35. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. The company had revenue of $605.00 million for the quarter, compared to analysts’ expectations of $586.25 million. Research analysts expect that Okta, Inc. will post -1.51 earnings per share for the current year.

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.