Motley Fool Wealth Management LLC Decreases Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Motley Fool Wealth Management LLC reduced its position in shares of Okta, Inc. (NASDAQ:OKTA) by 13.0% in the fourth quarter, according to the company in its most recent disclosure 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 SEC filing.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Okta by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock valued at $79,503,000 after buying an additional 17,950 shares during the period. Eagle Asset Management Inc. increased its position in Okta by 21.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 20,784 shares of the company’s stock valued at $1,595,000 after purchasing an additional 3,685 shares during the period. Cerity Partners LLC raised its holdings in Okta by 211.4% in the 3rd quarter. Cerity Partners LLC now owns 54,412 shares of the company’s stock worth $4,045,000 after purchasing an additional 36,936 shares in the last quarter. Swedbank AB lifted its position in shares of Okta by 0.8% in the 3rd quarter. Swedbank AB now owns 80,011 shares of the company’s stock worth $5,948,000 after purchasing an additional 609 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its stake in shares of Okta by 478.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 27,215 shares of the company’s stock valued at $2,023,000 after purchasing an additional 22,507 shares in the last quarter. 86.64% of the stock is owned by institutional investors.

Insider Buying and Selling at Okta

In other news, insider Larissa Schwartz sold 11,552 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total value of $1,317,967.68. Following the transaction, the insider now owns 22,125 shares in the company, valued at $2,524,241.25. This represents a 34.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Robert Kelleher sold 5,895 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $113.75, for a total transaction of $670,556.25. Following the sale, the insider now owns 9,828 shares of the company’s stock, valued at $1,117,935. This trade represents a 37.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 763,901 shares of company stock valued at $70,880,205. 7.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

OKTA has been the subject of a number of research reports. Stifel Nicolaus increased their price target on shares of Okta from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. UBS Group set a $135.00 target price on Okta in a research report on Tuesday, March 4th. Canaccord Genuity Group lifted their price target on Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Scotiabank increased their price objective on Okta from $94.00 to $109.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 4th. Finally, Canaccord Genuity Group boosted their target price on shares of Okta from $94.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, Okta currently has an average rating of “Moderate Buy” and an average price target of $115.29.

Okta Price Performance

NASDAQ OKTA opened at $116.72 on Wednesday. The stock 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. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $118.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The business’s fifty day moving average price is $98.81 and its 200-day moving average price is $85.04.

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.