Mackenzie Financial Corp Sells 4,995 Shares of Okta, Inc. (NASDAQ:OKTA)

Mackenzie Financial Corp lowered its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 26.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,920 shares of the company's stock after selling 4,995 shares during the period. Mackenzie Financial Corp's holdings in Okta were worth $1,097,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Jackson Hole Trust purchased a new stake in Okta in the 4th quarter valued at about $25,000. TD Private Client Wealth LLC increased its position in shares of Okta by 3,507.7% during the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock valued at $37,000 after acquiring an additional 456 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Okta during the fourth quarter valued at approximately $40,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Okta during the fourth quarter valued at approximately $43,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Okta during the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 86.64% of the company's stock.

Insider Activity at Okta

In other news, insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the sale, the insider now owns 22,125 shares of the company's stock, valued at approximately $2,524,241.25. The trade was a 34.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Jonathan James Addison sold 7,005 shares of Okta stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $101.19, for a total value of $708,835.95. Following the sale, the executive now owns 19,067 shares in the company, valued at $1,929,389.73. This represents a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,452 shares of company stock worth $2,697,360 over the last quarter. Corporate insiders own 5.68% of the company's stock.

Okta Trading Down 1.4%

NASDAQ OKTA traded down $1.51 during trading on Tuesday, hitting $103.22. 2,634,387 shares of the company's stock traded hands, compared to its average volume of 2,946,368. The stock has a fifty day moving average of $109.07 and a two-hundred day moving average of $97.33. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $127.57. The firm has a market cap of $17.92 billion, a P/E ratio of -295.07, a PEG ratio of 6.42 and a beta of 0.96.

Okta (NASDAQ:OKTA - Get Free Report) last issued its earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.09. The company had revenue of $688.00 million during the quarter, compared to analysts' expectations of $680.14 million. Okta had a positive return on equity of 0.47% and a negative net margin of 1.54%. Okta's quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 EPS. As a group, sell-side analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on OKTA. Roth Capital reaffirmed a "buy" rating and set a $119.00 target price on shares of Okta in a research report on Wednesday, May 28th. DA Davidson decreased their price objective on shares of Okta from $145.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. Barclays decreased their price target on shares of Okta from $135.00 to $120.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 28th. Truist Financial lifted their price target on shares of Okta from $92.00 to $100.00 and gave the stock a "hold" rating in a report on Tuesday, March 4th. Finally, BMO Capital Markets set a $132.00 price target on shares of Okta and gave the stock a "market perform" rating in a report on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, Okta presently has a consensus rating of "Moderate Buy" and an average target price of $121.59.

Okta 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.