Okta, Inc. (NASDAQ:OKTA) Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. trimmed its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 16.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,124 shares of the company’s stock after selling 4,436 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Okta were worth $1,822,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new position in shares of Okta during the 3rd quarter worth approximately $25,000. Future Financial Wealth Managment LLC purchased a new position in shares of Okta during the 3rd quarter worth approximately $26,000. Blue Trust Inc. raised its stake in shares of Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after buying an additional 191 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in Okta in the 3rd quarter valued at approximately $32,000. Finally, Modus Advisors LLC purchased a new position in Okta in the 4th quarter valued at approximately $44,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Stock Up 0.0 %

Shares of NASDAQ OKTA opened at $97.47 on Friday. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $114.50. 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 $85.60 and its 200-day simple moving average is $82.19.

Insider Transactions at Okta

In related news, Director Jacques Frederic Kerrest sold 131,426 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.68, for a total value of $10,603,449.68. Following the completion of the sale, the director now directly owns 1,622 shares of the company’s stock, valued at $130,862.96. The trade was a 98.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd Mckinnon sold 233,028 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 913,168 shares of company stock valued at $78,420,769. 7.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

OKTA has been the subject of several research analyst reports. Sanford C. Bernstein dropped their price objective on Okta from $129.00 to $124.00 and set an “outperform” rating for the company in a research note on Tuesday, December 17th. Robert W. Baird raised their price objective on Okta from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Susquehanna raised their price objective on Okta from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. KeyCorp raised Okta from a “sector weight” rating to an “overweight” rating and set a $115.00 price objective for the company in a research note on Thursday, December 19th. Finally, Wells Fargo & Company raised their price target on Okta from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $104.55.

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.