Okta, Inc. (NASDAQ:OKTA) Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. reduced its holdings in Okta, Inc. (NASDAQ:OKTA) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp raised its position in shares of Okta by 3.0% during the 3rd quarter. Northern Trust Corp now owns 944,726 shares of the company’s stock worth $77,005,000 after buying an additional 27,577 shares in the last quarter. RPG Investment Advisory LLC raised its holdings in Okta by 57.2% during the fourth quarter. RPG Investment Advisory LLC now owns 77,269 shares of the company’s stock worth $6,995,000 after purchasing an additional 28,119 shares in the last quarter. Pearl River Capital LLC lifted its position in Okta by 643.6% in the third quarter. Pearl River Capital LLC now owns 41,982 shares of the company’s stock worth $3,422,000 after purchasing an additional 36,336 shares during the period. Assenagon Asset Management S.A. boosted its stake in Okta by 2,721.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 176,071 shares of the company’s stock valued at $15,940,000 after purchasing an additional 169,830 shares in the last quarter. Finally, Aigen Investment Management LP bought a new position in Okta during the 3rd quarter valued at $923,000. Institutional investors own 86.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on OKTA. Canaccord Genuity Group upped their price objective on Okta from $85.00 to $95.00 and gave the company a “hold” rating in a report on Thursday, February 29th. Piper Sandler upped their price target on shares of Okta from $85.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Robert W. Baird raised their price objective on shares of Okta from $90.00 to $108.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Bank of America upgraded shares of Okta from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $64.00 to $135.00 in a report on Thursday, February 29th. Finally, Royal Bank of Canada raised their target price on shares of Okta from $95.00 to $125.00 and gave the stock an “outperform” rating 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 company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $100.39.

Okta Stock Down 1.3 %

NASDAQ OKTA opened at $93.80 on Thursday. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.20. Okta, Inc. has a 1-year low of $65.04 and a 1-year high of $114.50. The firm’s fifty day simple moving average is $98.69 and its 200-day simple moving average is $85.70.

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

Insiders Place Their Bets

In other news, CAO Shibu Ninan sold 4,279 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total transaction of $445,615.06. Following the transaction, the chief accounting officer now owns 4,111 shares in the company, valued at approximately $428,119.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $534,800.00. Following the transaction, the director now owns 6,042 shares of the company’s stock, valued at $646,252.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Shibu Ninan sold 4,279 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total value of $445,615.06. Following the completion of the sale, the chief accounting officer now directly owns 4,111 shares in the company, valued at $428,119.54. The disclosure for this sale can be found here. Insiders sold 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 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.