Courier Capital LLC Sells 4,525 Shares of Okta, Inc. (NASDAQ:OKTA)

Courier Capital LLC trimmed its position in shares of Okta, Inc. (NASDAQ:OKTA) by 31.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,924 shares of the company’s stock after selling 4,525 shares during the period. Courier Capital LLC’s holdings in Okta were worth $782,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of OKTA. Paloma Partners Management Co purchased a new position in Okta during the 3rd quarter valued at about $969,000. SG Americas Securities LLC raised its holdings in shares of Okta by 122.3% during the third quarter. SG Americas Securities LLC now owns 17,021 shares of the company’s stock valued at $1,265,000 after acquiring an additional 9,364 shares in the last quarter. Truist Financial Corp raised its holdings in shares of Okta by 62.5% during the second quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after acquiring an additional 200,770 shares in the last quarter. Stifel Financial Corp lifted its stake in Okta by 56.1% in the third quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock worth $2,770,000 after acquiring an additional 13,387 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in Okta by 1,150.2% in the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after acquiring an additional 382,190 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Larissa Schwartz sold 2,791 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $71.50, for a total transaction of $199,556.50. Following the completion of the sale, the insider now owns 22,125 shares in the company, valued at approximately $1,581,937.50. This represents a 11.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.68, for a total value of $10,603,449.68. Following the completion of the transaction, the director now directly owns 1,622 shares in the company, valued at $130,862.96. The trade was a 98.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 594,482 shares of company stock valued at $46,955,865 over the last three months. Insiders own 7.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Guggenheim restated a “buy” rating and issued a $130.00 price objective on shares of Okta in a report on Wednesday, December 4th. JPMorgan Chase & Co. raised shares of Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price target for the company in a research note on Monday, December 16th. DA Davidson lifted their price objective on Okta from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Piper Sandler increased their target price on Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Robert W. Baird lifted their price target on Okta from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $104.45.

Okta Price Performance

OKTA opened at $83.49 on Tuesday. The company’s 50-day simple moving average is $80.34 and its two-hundred day simple moving average is $82.57. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $14.31 billion, a P/E ratio of -238.54, a P/E/G ratio of 8.61 and a beta of 1.00. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $114.50.

About Okta

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.