Westfield Capital Management Co. LP Sells 197,305 Shares of Okta, Inc. (NASDAQ:OKTA)

Westfield Capital Management Co. LP decreased its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 28.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 493,029 shares of the company's stock after selling 197,305 shares during the quarter. Westfield Capital Management Co. LP owned 0.30% of Okta worth $44,634,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Zone Wealth Advisors LLC grew its stake in shares of Okta by 2.7% in the 4th quarter. Blue Zone Wealth Advisors LLC now owns 5,142 shares of the company's stock valued at $466,000 after purchasing an additional 134 shares during the period. Creative Financial Designs Inc. ADV lifted its holdings in Okta by 7.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,926 shares of the company's stock valued at $174,000 after purchasing an additional 138 shares during the last quarter. Choreo LLC boosted its holdings in shares of Okta by 5.0% in the 3rd quarter. Choreo LLC now owns 3,366 shares of the company's stock worth $274,000 after acquiring an additional 160 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Okta by 1.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 15,136 shares of the company's stock worth $1,370,000 after purchasing an additional 189 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its holdings in Okta by 19.2% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,207 shares of the company's stock worth $98,000 after acquiring an additional 194 shares during the last quarter. Institutional investors own 86.64% of the company's stock.

Okta Stock Down 1.6 %

OKTA stock traded down $1.58 during trading hours on Friday, reaching $97.16. 1,432,494 shares of the stock were exchanged, compared to its average volume of 1,231,753. The company has a market cap of $16.26 billion, a price-to-earnings ratio of -44.77 and a beta of 0.98. The firm's 50-day moving average is $99.19 and its 200-day moving average is $89.59. Okta, Inc. has a 12 month low of $65.04 and a 12 month 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.

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

Analyst Ratings Changes

OKTA has been the subject of several research analyst reports. Royal Bank of Canada boosted their price objective on shares of Okta from $95.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, February 29th. Robert W. Baird upped their price target on Okta from $90.00 to $108.00 and gave the company an "outperform" rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. lifted their price objective on Okta from $74.00 to $88.00 and gave the stock a "neutral" rating in a research report on Monday, February 26th. Sanford C. Bernstein upped their target price on shares of Okta from $84.00 to $114.00 and gave the company a "market perform" rating in a research report on Thursday, February 29th. Finally, Mizuho lifted their price target on shares of Okta from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Friday, May 17th. Twenty investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $101.84.

Insider Buying and Selling at Okta

In other news, Director Shellye L. Archambeau sold 5,000 shares of the 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 completion of the transaction, the director now directly owns 6,042 shares in the company, valued at approximately $646,252.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Shellye L. Archambeau sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the sale, the director now owns 6,042 shares in the company, valued at approximately $646,252.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Shibu Ninan sold 4,279 shares of the firm's stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total transaction of $445,615.06. Following the completion of the transaction, the chief accounting officer now directly owns 4,111 shares of the company's stock, valued at $428,119.54. The disclosure for this sale can be found here. Company insiders own 7.00% 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.

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