Simplicity Solutions LLC Has $1.38 Million Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Simplicity Solutions LLC decreased its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 53.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,257 shares of the company's stock after selling 17,610 shares during the period. Simplicity Solutions LLC's holdings in Okta were worth $1,381,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. MetLife Investment Management LLC acquired a new position in shares of Okta during the first quarter worth $1,232,000. APG Asset Management N.V. increased its position in shares of Okta by 37.3% during the first quarter. APG Asset Management N.V. now owns 7,000 shares of the company's stock worth $950,000 after purchasing an additional 1,900 shares in the last quarter. Raymond James Trust N.A. increased its position in shares of Okta by 33.7% during the first quarter. Raymond James Trust N.A. now owns 2,307 shares of the company's stock worth $349,000 after purchasing an additional 581 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Okta by 3.7% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 22,788 shares of the company's stock worth $3,440,000 after purchasing an additional 808 shares in the last quarter. Finally, Cibc World Market Inc. increased its position in shares of Okta by 7.9% during the first quarter. Cibc World Market Inc. now owns 3,297 shares of the company's stock worth $498,000 after purchasing an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company's stock.

Okta Stock Up 0.8 %

OKTA traded up $0.78 during trading hours on Tuesday, reaching $95.01. 1,097,970 shares of the stock traded hands, compared to its average volume of 2,029,399. Okta, Inc. has a fifty-two week low of $65.04 and a fifty-two week high of $114.50. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.67 and a quick ratio of 1.67. The company has a market cap of $15.90 billion, a price-to-earnings ratio of -43.78 and a beta of 1.00. The firm's fifty day simple moving average is $98.49 and its two-hundred day simple moving average is $85.64.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.49) by $0.35. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. The company had revenue of $605.00 million for the quarter, compared to the consensus estimate of $586.25 million. As a group, analysts forecast that Okta, Inc. will post -1.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

OKTA has been the topic of a number of recent analyst reports. Sanford C. Bernstein upped their price target on Okta from $84.00 to $114.00 and gave the stock a "market perform" rating in a research report on Thursday, February 29th. Oppenheimer upped their target price on Okta from $110.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, February 29th. Citigroup upped their target price on Okta from $75.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, January 10th. Westpark Capital raised Okta from a "hold" rating to a "buy" rating and set a $140.00 target price on the stock in a research report on Thursday, February 29th. Finally, The Goldman Sachs Group upped their target price on Okta from $105.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, February 29th. Twenty analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $100.39.

Insider Buying and Selling at Okta

In other Okta news, Director Shellye L. Archambeau sold 5,000 shares of the firm's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $106.96, for a total transaction of $534,800.00. Following the transaction, the director now owns 6,042 shares of the company's stock, valued at approximately $646,252.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Shibu Ninan sold 2,500 shares of the business's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $90.23, for a total transaction of $225,575.00. Following the transaction, the chief accounting officer now directly owns 6,539 shares of the company's stock, valued at $590,013.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shellye L. Archambeau sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $106.96, for a total transaction of $534,800.00. Following the transaction, the director now directly owns 6,042 shares in the company, valued at $646,252.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,779 shares of company stock valued at $1,205,990. Company insiders own 7.36% of the company's stock.

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.