Okta, Inc. (NASDAQ:OKTA) Stake Trimmed by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,559,625 shares of the company's stock after selling 9,624 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.91% of Okta worth $122,898,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of OKTA. Bank of Jackson Hole Trust purchased a new position in Okta in the fourth quarter valued at about $25,000. TD Private Client Wealth LLC grew its stake in shares of Okta by 3,507.7% in the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock valued at $37,000 after buying an additional 456 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in Okta during the 4th quarter worth approximately $43,000. Wingate Wealth Advisors Inc. purchased a new position in Okta in the 4th quarter worth approximately $44,000. Finally, True Wealth Design LLC boosted its holdings in Okta by 237.4% in the 4th quarter. True Wealth Design LLC now owns 577 shares of the company's stock worth $45,000 after acquiring an additional 406 shares during the period. Hedge funds and other institutional investors own 86.64% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets lowered their price target on shares of Okta from $135.00 to $132.00 and set a "market perform" rating for the company in a report on Wednesday. Roth Capital restated a "buy" rating and set a $119.00 target price on shares of Okta in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on Okta from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. JMP Securities reissued a "market perform" rating on shares of Okta in a report on Wednesday. Finally, Guggenheim lowered their price objective on Okta from $140.00 to $138.00 and set a "buy" rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $121.83.

Okta Stock Performance

Shares of OKTA traded down $20.27 during mid-day trading on Wednesday, reaching $105.23. 28,435,785 shares of the company's stock traded hands, compared to its average volume of 2,934,612. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $127.57. 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 $18.27 billion, a P/E ratio of -300.66, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96. The business's 50-day moving average price is $109.90 and its 200-day moving average price is $96.42.

Okta (NASDAQ:OKTA - Get Free Report) last released its earnings results on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.77 by $0.09. The firm had revenue of $688.00 million for the quarter, compared to analysts' expectations of $680.14 million. Okta had a negative net margin of 1.54% and a positive return on equity of 0.47%. Okta's quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the company earned $0.65 EPS. Equities analysts predict that Okta, Inc. will post 0.42 earnings per share for the current year.

Insider Buying and Selling

In related news, CRO Jonathan James Addison sold 7,005 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $101.19, for a total transaction of $708,835.95. Following the completion of the sale, the executive now directly owns 19,067 shares of the company's stock, valued at $1,929,389.73. This represents a 26.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total transaction of $13,650,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 154,452 shares of company stock valued at $16,347,360 over the last quarter. Corporate insiders own 5.68% of the company's stock.

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.