Okta, Inc. (NASDAQ:OKTA) Shares Sold by Triumph Capital Management

Triumph Capital Management lessened its stake in Okta, Inc. (NASDAQ:OKTA) by 7.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,365 shares of the company’s stock after selling 328 shares during the period. Triumph Capital Management’s holdings in Okta were worth $395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Okta by 0.8% during the third quarter. Vanguard Group Inc. now owns 15,281,123 shares of the company’s stock worth $1,245,564,000 after buying an additional 123,216 shares during the period. Sands Capital Management LLC lifted its position in Okta by 2.4% in the third quarter. Sands Capital Management LLC now owns 5,871,958 shares of the company’s stock valued at $478,623,000 after purchasing an additional 136,267 shares during the period. Cerity Partners LLC lifted its position in Okta by 6,192.3% in the fourth quarter. Cerity Partners LLC now owns 3,172,223 shares of the company’s stock valued at $287,181,000 after purchasing an additional 3,121,809 shares during the period. Eminence Capital LP lifted its position in Okta by 7.7% in the third quarter. Eminence Capital LP now owns 1,599,703 shares of the company’s stock valued at $130,392,000 after purchasing an additional 113,994 shares during the period. Finally, Legal & General Group Plc lifted its position in Okta by 8.2% in the third quarter. Legal & General Group Plc now owns 1,150,442 shares of the company’s stock valued at $93,773,000 after purchasing an additional 87,102 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Performance

NASDAQ:OKTA opened at $93.34 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 1.67. The firm’s fifty day simple moving average is $99.86 and its 200 day simple moving average is $86.44. Okta, Inc. has a twelve month low of $65.04 and a twelve month high of $114.50.

Okta (NASDAQ:OKTA) last posted its earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $605.00 million for the quarter, compared to analyst estimates of $586.25 million. As a group, research analysts expect that Okta, Inc. will post -1.51 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on OKTA. Evercore ISI raised their price objective on shares of Okta from $70.00 to $102.00 and gave the company an “in-line” rating in a research report on Thursday, February 29th. Sanford C. Bernstein increased their target price on shares of Okta from $84.00 to $114.00 and gave the company a “market perform” rating in a report on Thursday, February 29th. Truist Financial reaffirmed a “hold” rating and issued a $105.00 target price (up from $85.00) on shares of Okta in a report on Thursday, February 29th. Oppenheimer increased their target price on shares of Okta from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Finally, Royal Bank of Canada raised their price objective on shares of Okta from $95.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Twenty analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Okta currently has a consensus rating of “Hold” and a consensus price target of $100.39.

Insider Transactions at Okta

In other news, CAO Shibu Ninan sold 4,279 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total value of $445,615.06. Following the completion of the sale, the chief accounting officer now owns 4,111 shares of the company’s stock, valued at approximately $428,119.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Shibu Ninan sold 4,279 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now owns 4,111 shares of the company’s stock, valued at approximately $428,119.54. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Shellye L. Archambeau sold 5,000 shares of the business’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 sale, the director now directly owns 6,042 shares of the company’s stock, valued at approximately $646,252.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,779 shares of company stock valued at $1,205,990. Insiders own 7.36% 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.