Okta, Inc. (NASDAQ:OKTA) Shares Sold by Alerus Financial NA

Alerus Financial NA trimmed its holdings in Okta, Inc. (NASDAQ:OKTA) by 4.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,100 shares of the company’s stock after selling 459 shares during the period. Alerus Financial NA’s holdings in Okta were worth $717,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OKTA. Frank Rimerman Advisors LLC lifted its stake in Okta by 2.4% in the 4th quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock worth $352,000 after purchasing an additional 105 shares in the last quarter. Stephens Inc. AR boosted its stake in Okta by 5.0% during the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock worth $260,000 after buying an additional 157 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Okta by 2.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock valued at $605,000 after buying an additional 180 shares in the last quarter. Great Lakes Advisors LLC grew its stake in shares of Okta by 2.7% in the 4th quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company’s stock valued at $557,000 after buying an additional 184 shares during the period. Finally, CHICAGO TRUST Co NA grew its holdings in shares of Okta by 6.5% during the 4th quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock worth $246,000 after purchasing an additional 191 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Stock Down 2.5 %

Shares of NASDAQ OKTA opened at $111.20 on Friday. The firm has a market cap of $19.30 billion, a price-to-earnings ratio of -317.71, a PEG ratio of 6.42 and a beta of 1.09. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $118.07. 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’s 50-day simple moving average is $99.92 and its 200-day simple moving average is $85.43.

Insider Buying and Selling at Okta

In related news, insider Larissa Schwartz sold 2,704 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.50, for a total value of $217,672.00. Following the sale, the insider now directly owns 24,462 shares of the company’s stock, valued at $1,969,191. This represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jacques Frederic Kerrest sold 3,306 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $88.85, for a total transaction of $293,738.10. The disclosure for this sale can be found here. Insiders have sold a total of 763,901 shares of company stock valued at $70,880,205 in the last three months. Corporate insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Okta from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Westpark Capital restated a “buy” rating and set a $140.00 price target on shares of Okta in a report on Friday, February 28th. Wells Fargo & Company boosted their price objective on Okta from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Sanford C. Bernstein dropped their price objective on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a report on Tuesday, December 17th. Finally, Mizuho upgraded Okta from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $110.00 to $127.00 in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Okta has a consensus rating of “Moderate Buy” and an average target price of $115.29.

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.