True Link Financial Advisors LLC Sells 640 Shares of Okta, Inc. (NASDAQ:OKTA)

True Link Financial Advisors LLC decreased its holdings in Okta, Inc. (NASDAQ:OKTA) by 9.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,000 shares of the company’s stock after selling 640 shares during the period. True Link Financial Advisors LLC’s holdings in Okta were worth $631,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bank of Jackson Hole Trust acquired a new stake in Okta in the fourth quarter valued at about $25,000. TD Private Client Wealth LLC lifted its holdings in shares of Okta by 3,507.7% in the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock worth $37,000 after acquiring an additional 456 shares during the last quarter. CX Institutional acquired a new stake in shares of Okta in the 1st quarter valued at approximately $52,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Okta during the 4th quarter valued at approximately $40,000. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of Okta during the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Transactions at Okta

In related news, CRO Jonathan James Addison sold 7,005 shares of the business’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $101.19, for a total value of $708,835.95. Following the transaction, the executive now directly owns 19,067 shares of the company’s stock, valued at approximately $1,929,389.73. The trade was a 26.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.68% of the company’s stock.

Okta Stock Performance

NASDAQ OKTA opened at $99.00 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $109.24 and a 200 day simple moving average of $99.27. The company has a market cap of $17.33 billion, a P/E ratio of 157.15, a PEG ratio of 4.79 and a beta of 0.84. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $127.57.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.09. Okta had a return on equity of 2.79% and a net margin of 4.85%. The business had revenue of $688.00 million during the quarter, compared to the consensus estimate of $680.14 million. During the same quarter in the prior year, the company posted $0.65 earnings per share. Okta’s revenue was up 11.5% compared to the same quarter last year. Sell-side analysts predict that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Cantor Fitzgerald assumed coverage on shares of Okta in a research note on Monday, March 31st. They issued an “overweight” rating and a $130.00 price objective for the company. Stephens reiterated an “equal weight” rating and issued a $127.00 price target on shares of Okta in a research note on Tuesday, May 27th. Robert W. Baird boosted their price objective on Okta from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Canaccord Genuity Group upped their target price on Okta from $100.00 to $115.00 and gave the stock a “hold” rating in a report on Wednesday, May 28th. Finally, Citigroup lifted their price target on Okta from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $121.59.

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.