Teamwork Financial Advisors LLC reduced its position in shares of Okta Inc (NASDAQ:OKTA) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,693 shares of the company’s stock after selling 99 shares during the period. Okta accounts for about 0.7% of Teamwork Financial Advisors LLC’s holdings, making the stock its 18th biggest position. Teamwork Financial Advisors LLC’s holdings in Okta were worth $2,287,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OKTA. Public Employees Retirement Association of Colorado lifted its position in shares of Okta by 182.2% during the first quarter. Public Employees Retirement Association of Colorado now owns 247,300 shares of the company’s stock valued at $30,235,000 after purchasing an additional 159,653 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Okta by 24.6% in the first quarter. Canada Pension Plan Investment Board now owns 2,673 shares of the company’s stock worth $327,000 after acquiring an additional 527 shares during the period. Alliancebernstein L.P. raised its position in Okta by 15.6% in the first quarter. Alliancebernstein L.P. now owns 92,733 shares of the company’s stock worth $11,338,000 after acquiring an additional 12,522 shares during the period. Baird Financial Group Inc. raised its position in Okta by 17.5% in the first quarter. Baird Financial Group Inc. now owns 2,665 shares of the company’s stock worth $326,000 after acquiring an additional 397 shares during the period. Finally, Impax Asset Management Group plc raised its position in Okta by 17.7% in the first quarter. Impax Asset Management Group plc now owns 2,770 shares of the company’s stock worth $339,000 after acquiring an additional 417 shares during the period. 77.40% of the stock is currently owned by institutional investors.
NASDAQ:OKTA traded down $2.36 during mid-day trading on Friday, hitting $243.95. 769,926 shares of the stock traded hands, compared to its average volume of 1,802,370. The business’s 50-day moving average price is $214.06 and its 200 day moving average price is $191.37. The company has a market cap of $31.25 billion, a PE ratio of -128.39 and a beta of 0.97. Okta Inc has a 12-month low of $88.66 and a 12-month high of $251.18. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 2.47.
In other Okta news, Director Michael R. Kourey sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $194.20, for a total value of $3,884,000.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $3,884,000. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Christopher K. Kramer sold 16,887 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $195.79, for a total transaction of $3,306,305.73. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 405,377 shares of company stock valued at $89,068,004. 12.02% of the stock is owned by corporate insiders.
Several brokerages have commented on OKTA. Goldman Sachs Group lifted their price objective on shares of Okta from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Citigroup lifted their price objective on shares of Okta from $236.00 to $266.00 in a research report on Friday, August 28th. Zacks Investment Research lowered shares of Okta from a “hold” rating to a “sell” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. lifted their price objective on shares of Okta from $192.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, August 28th. Finally, BMO Capital Markets lifted their target price on shares of Okta from $228.00 to $260.00 in a research note on Thursday, October 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $208.60.
Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.
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