Raymond James & Associates Has $1.95 Million Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Raymond James & Associates cut its position in Okta, Inc. (NASDAQ:OKTA) by 15.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,502 shares of the company’s stock after selling 3,819 shares during the quarter. Raymond James & Associates’ holdings in Okta were worth $1,947,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. NBC Securities Inc. acquired a new position in Okta during the 3rd quarter valued at about $27,000. International Assets Investment Management LLC bought a new stake in Okta during the 3rd quarter worth approximately $29,000. Harvest Fund Management Co. Ltd bought a new stake in Okta during the 3rd quarter worth approximately $39,000. First Manhattan CO. LLC. increased its holdings in Okta by 365.5% during the 1st quarter. First Manhattan CO. LLC. now owns 540 shares of the company’s stock worth $47,000 after purchasing an additional 424 shares in the last quarter. Finally, Coppell Advisory Solutions LLC bought a new stake in Okta during the 2nd quarter worth approximately $46,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Susquehanna upped their target price on Okta from $70.00 to $115.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Oppenheimer upped their target price on Okta from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Bank of America raised Okta from an “underperform” rating to a “buy” rating and upped their target price for the company from $64.00 to $135.00 in a report on Thursday, February 29th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $95.00 target price (up from $85.00) on shares of Okta in a report on Friday, January 5th. Finally, Royal Bank of Canada upped their target price on Okta from $95.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Twenty equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $100.39.

Okta Trading Down 1.3 %

Okta stock opened at $93.80 on Thursday. The stock has a market cap of $15.70 billion, a P/E ratio of -43.23 and a beta of 1.00. Okta, Inc. has a fifty-two week low of $65.04 and a fifty-two week high of $114.50. The firm’s fifty day moving average price is $98.69 and its 200-day moving average price is $85.70. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 1.67.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.35. The firm had revenue of $605.00 million for the quarter, compared to analysts’ expectations of $586.25 million. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. Equities research analysts forecast that Okta, Inc. will post -1.51 earnings per share for the current fiscal year.

Insider Transactions at Okta

In other news, CAO Shibu Ninan sold 4,279 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total value of $445,615.06. Following the transaction, the chief accounting officer now owns 4,111 shares of the company’s stock, valued at $428,119.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Shibu Ninan sold 4,279 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total value of $445,615.06. Following the transaction, the chief accounting officer now owns 4,111 shares of the company’s stock, valued at $428,119.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Shellye L. Archambeau sold 5,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $106.96, for a total value of $534,800.00. Following the completion of the transaction, the director now directly owns 6,042 shares in the company, valued at approximately $646,252.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,779 shares of company stock valued at $1,205,990. 7.36% of the stock is currently owned by company insiders.

Okta 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.