Sherbrooke Park Advisers LLC Trims Stock Position in Okta, Inc. (NASDAQ:OKTA)

Sherbrooke Park Advisers LLC trimmed its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 28.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,669 shares of the company's stock after selling 4,657 shares during the period. Sherbrooke Park Advisers LLC's holdings in Okta were worth $920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in OKTA. Bank of Jackson Hole Trust acquired a new stake in Okta during the 4th quarter worth about $25,000. TD Private Client Wealth LLC grew its position in shares of Okta by 3,507.7% during the 4th 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 period. Brown Brothers Harriman & Co. purchased a new position in Okta in the 4th quarter valued at about $43,000. Wingate Wealth Advisors Inc. purchased a new position in Okta in the 4th quarter valued at about $44,000. Finally, Smartleaf Asset Management LLC lifted its stake in Okta by 40.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 732 shares of the company's stock valued at $58,000 after buying an additional 210 shares in the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Jacques Frederic Kerrest sold 130,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total value of $13,650,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Jonathan James Addison sold 7,005 shares of the business's stock in a transaction 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 approximately $1,929,389.73. This trade represents a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 154,452 shares of company stock worth $16,347,360 over the last 90 days. Corporate insiders own 5.68% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Barclays raised their price target on shares of Okta from $105.00 to $115.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Jefferies Financial Group raised their price target on shares of Okta from $90.00 to $110.00 and gave the company a "hold" rating in a research note on Tuesday, March 4th. Stephens assumed coverage on shares of Okta in a research note on Tuesday, April 1st. They issued an "equal weight" rating and a $127.00 price target on the stock. The Goldman Sachs Group raised their price target on shares of Okta from $107.00 to $123.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Finally, Canaccord Genuity Group raised their target price on shares of Okta from $94.00 to $100.00 and gave the stock a "hold" rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $117.74.

Okta Stock Down 0.7%

Shares of NASDAQ:OKTA traded down $0.86 during trading on Monday, hitting $126.44. The company's stock had a trading volume of 1,854,492 shares, compared to its average volume of 2,778,333. The business has a 50 day moving average price of $108.50 and a two-hundred day moving average price of $94.53. The company has a market capitalization of $21.95 billion, a PE ratio of -361.26, a P/E/G ratio of 6.42 and a beta of 0.96. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $127.57.

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.