Okta, Inc. (NASDAQ:OKTA) Shares Sold by Diversified Trust Co

Diversified Trust Co reduced its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 32.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,985 shares of the company's stock after selling 8,507 shares during the quarter. Diversified Trust Co's holdings in Okta were worth $1,892,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Marshall Wace LLP lifted its holdings in shares of Okta by 35.5% in the fourth quarter. Marshall Wace LLP now owns 3,583,937 shares of the company's stock valued at $282,414,000 after purchasing an additional 938,509 shares in the last quarter. Norges Bank purchased a new stake in shares of Okta in the fourth quarter valued at about $234,992,000. Geode Capital Management LLC lifted its holdings in shares of Okta by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company's stock valued at $212,385,000 after purchasing an additional 135,110 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Okta by 236.8% in the fourth quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock valued at $176,271,000 after purchasing an additional 1,572,786 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Okta by 2,135.7% in the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock valued at $150,845,000 after purchasing an additional 1,828,630 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Okta

In related news, insider Larissa Schwartz sold 1,105 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $98.50, for a total transaction of $108,842.50. Following the completion of the sale, the insider now directly owns 25,884 shares of the company's stock, valued at approximately $2,549,574. This trade represents a 4.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jacques Frederic Kerrest sold 581 shares of the firm's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $100.29, for a total transaction of $58,268.49. Following the sale, the director now directly owns 2,832 shares of the company's stock, valued at approximately $284,021.28. The trade was a 17.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 10,935 shares of company stock valued at $1,100,347. Corporate insiders own 5.68% of the company's stock.

Okta Price Performance

Okta stock opened at $98.43 on Friday. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $127.57. The firm has a fifty day moving average of $109.10 and a 200-day moving average of $99.89. The firm has a market capitalization of $17.23 billion, a P/E ratio of 156.24, a PEG ratio of 4.75 and a beta of 0.84. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.05.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.09. The company had revenue of $688.00 million during the quarter, compared to analyst estimates of $680.14 million. Okta had a net margin of 4.85% and a return on equity of 2.79%. The business's quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 earnings per share. As a group, analysts predict that Okta, Inc. will post 0.42 EPS for the current year.

Analyst Upgrades and Downgrades

OKTA has been the topic of several recent research reports. JMP Securities reaffirmed a "market perform" rating on shares of Okta in a report on Wednesday, May 28th. Oppenheimer upped their price target on shares of Okta from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Barclays reduced their price objective on shares of Okta from $135.00 to $120.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 28th. Susquehanna upped their price objective on shares of Okta from $95.00 to $105.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Finally, Morgan Stanley reduced their price objective on shares of Okta from $125.00 to $123.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $121.59.

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.

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