Motley Fool Wealth Management LLC Sells 11,929 Shares of Okta, Inc. (NASDAQ:OKTA)

Motley Fool Wealth Management LLC lowered its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 13.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,926 shares of the company’s stock after selling 11,929 shares during the period. Motley Fool Wealth Management LLC’s holdings in Okta were worth $6,351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in OKTA. Paloma Partners Management Co bought a new position in Okta in the third quarter worth approximately $969,000. SBI Securities Co. Ltd. bought a new position in shares of Okta in the 4th quarter worth $1,686,000. Stifel Financial Corp grew its position in Okta by 56.1% in the 3rd quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock valued at $2,770,000 after purchasing an additional 13,387 shares during the period. Nordea Investment Management AB increased its stake in Okta by 1,150.2% during the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after purchasing an additional 382,190 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Okta by 7.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,547 shares of the company’s stock worth $8,813,000 after acquiring an additional 8,239 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Trading Up 0.3 %

NASDAQ OKTA opened at $116.72 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The stock’s 50-day simple moving average is $98.81 and its two-hundred day simple moving average is $85.04. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $118.07. The company has a market capitalization of $20.26 billion, a price-to-earnings ratio of -333.49, a PEG ratio of 6.42 and a beta of 1.09.

Insider Activity at Okta

In related news, CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total value of $445,000.00. Following the transaction, the chief financial officer now owns 112,533 shares in the company, valued at $10,015,437. This trade represents a 4.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total transaction of $33,965,100.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 763,901 shares of company stock valued at $70,880,205. Corporate insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OKTA. Wells Fargo & Company raised their price target on shares of Okta from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Mizuho raised shares of Okta from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $110.00 to $127.00 in a research report on Tuesday, March 4th. Morgan Stanley set a $125.00 target price on Okta in a report on Tuesday, March 18th. Stifel Nicolaus lifted their price target on Okta from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, Scotiabank upped their price objective on Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $115.29.

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.