Signaturefd LLC Has $278,000 Position in Okta, Inc. (NASDAQ:OKTA)

Signaturefd LLC cut its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 3.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,528 shares of the company’s stock after selling 110 shares during the quarter. Signaturefd LLC’s holdings in Okta were worth $278,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in OKTA. CIBC Asset Management Inc lifted its holdings in shares of Okta by 5.4% during the third quarter. CIBC Asset Management Inc now owns 5,650 shares of the company’s stock worth $420,000 after purchasing an additional 288 shares during the period. Empowered Funds LLC lifted its holdings in Okta by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 5,718 shares of the company’s stock worth $425,000 after buying an additional 295 shares during the period. Quest Partners LLC grew its position in shares of Okta by 346.2% in the 3rd quarter. Quest Partners LLC now owns 7,134 shares of the company’s stock valued at $530,000 after buying an additional 5,535 shares during the last quarter. Caprock Group LLC increased its stake in shares of Okta by 32.6% in the third quarter. Caprock Group LLC now owns 3,786 shares of the company’s stock valued at $281,000 after buying an additional 930 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Okta during the third quarter worth about $307,000. 86.64% of the stock is owned by institutional investors.

Insider Transactions at Okta

In other news, insider Eric Robert Kelleher sold 5,895 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $113.75, for a total transaction of $670,556.25. Following the completion of the sale, the insider now owns 9,828 shares in the company, valued at $1,117,935. This trade represents a 37.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Larissa Schwartz sold 11,552 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the sale, the insider now directly owns 22,125 shares of the company’s stock, valued at $2,524,241.25. This represents a 34.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 763,901 shares of company stock worth $70,880,205 in the last ninety days. Company insiders own 7.00% of the company’s stock.

Okta Stock Performance

Shares of Okta stock opened at $113.74 on Friday. The firm has a market capitalization of $19.75 billion, a P/E ratio of -324.97, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The business’s fifty day simple moving average is $97.48 and its 200 day simple moving average is $84.32. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $116.96.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on OKTA shares. Morgan Stanley set a $125.00 target price on shares of Okta in a research report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Okta from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. Robert W. Baird increased their price target on Okta from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Finally, Piper Sandler boosted their price objective on Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Okta currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.29.

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.