UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 9,624 Shares of Okta, Inc. (NASDAQ:OKTA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 about 0.91% of Okta worth $122,898,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of OKTA. Bank of Jackson Hole Trust bought a new stake in Okta during the fourth quarter valued at $25,000. TD Private Client Wealth LLC boosted its position in 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. Brown Brothers Harriman & Co. bought a new stake in Okta during the fourth quarter valued at $43,000. Wingate Wealth Advisors Inc. bought a new stake in Okta during the fourth quarter valued at $44,000. Finally, True Wealth Design LLC boosted its position in Okta by 237.4% during the fourth quarter. True Wealth Design LLC now owns 577 shares of the company's stock valued at $45,000 after acquiring an additional 406 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on OKTA. Westpark Capital reaffirmed a "buy" rating and set a $140.00 price target on shares of Okta in a research report on Wednesday. Wells Fargo & Company upped their price target on shares of Okta from $100.00 to $110.00 and gave the company an "equal weight" rating in a research report on Wednesday. Citigroup upped their price target on shares of Okta from $100.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. BMO Capital Markets set a $132.00 price objective on shares of Okta and gave the stock a "market perform" rating in a research report on Wednesday. Finally, Canaccord Genuity Group increased their price objective on shares of Okta from $100.00 to $115.00 and gave the stock a "hold" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $121.83.

Insider Transactions at Okta

In related 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 value of $670,556.25. Following the completion of the transaction, the insider now directly owns 9,828 shares of the company's stock, valued at approximately $1,117,935. This trade represents a 37.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sold a total of 154,452 shares of company stock worth $16,347,360 in the last quarter. Insiders own 5.68% of the company's stock.

Okta Stock Up 1.5%

NASDAQ:OKTA traded up $1.60 on Thursday, hitting $106.83. The stock had a trading volume of 5,551,295 shares, compared to its average volume of 2,949,512. 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 cap of $18.55 billion, a P/E ratio of -305.52, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $127.57. The firm's fifty day simple moving average is $109.73 and its two-hundred day simple moving average is $96.48.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings results 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. Okta had a negative net margin of 1.54% and a positive return on equity of 0.47%. The company had revenue of $688.00 million during the quarter, compared to analyst estimates of $680.14 million. During the same quarter last year, the business posted $0.65 EPS. Okta's quarterly revenue was up 11.5% compared to the same quarter last year. Analysts predict that Okta, Inc. will post 0.42 earnings per share for the current year.

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.