Cwm LLC Sells 184 Shares of Okta, Inc. (NASDAQ:OKTA)

Cwm LLC lessened its holdings in Okta, Inc. (NASDAQ:OKTA) by 7.1% in the fourth quarter, Holdings Channel reports. The firm owned 2,398 shares of the company’s stock after selling 184 shares during the period. Cwm LLC’s holdings in Okta were worth $217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Okta by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 15,281,123 shares of the company’s stock worth $1,245,564,000 after purchasing an additional 123,216 shares during the last quarter. Sands Capital Management LLC raised its stake in shares of 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 buying an additional 136,267 shares during the period. Cerity Partners LLC raised its stake in shares of 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 buying an additional 3,121,809 shares during the period. Eminence Capital LP lifted its position in shares of Okta by 7.7% during the 3rd quarter. Eminence Capital LP now owns 1,599,703 shares of the company’s stock valued at $130,392,000 after buying an additional 113,994 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Okta by 8.2% during the 3rd quarter. Legal & General Group Plc now owns 1,150,442 shares of the company’s stock worth $93,773,000 after acquiring an additional 87,102 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Canaccord Genuity Group upped their price objective on shares of Okta from $85.00 to $95.00 and gave the company a “hold” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. upped their price target on shares of Okta from $74.00 to $88.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Evercore ISI lifted their price objective on shares of Okta from $70.00 to $102.00 and gave the company an “in-line” rating in a research note on Thursday, February 29th. Westpark Capital raised shares of Okta from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Thursday, February 29th. Finally, Sanford C. Bernstein raised their price target on Okta from $84.00 to $114.00 and gave the stock a “market perform” rating in a report on Thursday, February 29th. Twenty equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $100.39.

Insider Activity at Okta

In other Okta news, CAO Shibu Ninan sold 2,500 shares of Okta stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $90.23, for a total value of $225,575.00. Following the transaction, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at approximately $590,013.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Shellye L. Archambeau sold 5,000 shares of the 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 completion of the sale, the director now directly owns 6,042 shares in the company, valued at $646,252.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Shibu Ninan sold 2,500 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $90.23, for a total value of $225,575.00. Following the transaction, the chief accounting officer now owns 6,539 shares in the company, valued at approximately $590,013.97. The disclosure for this sale can be found here. Insiders sold 11,779 shares of company stock worth $1,205,990 in the last ninety days. 7.36% of the stock is owned by company insiders.

Okta Trading Up 1.1 %

OKTA stock opened at $96.55 on Friday. The company has a market capitalization of $16.16 billion, a PE ratio of -44.49 and a beta of 0.98. 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, Inc. has a one year low of $65.04 and a one year high of $114.50. The company’s 50 day moving average price is $100.63 and its two-hundred day moving average price is $86.62.

Okta (NASDAQ:OKTA) last posted 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. 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 during the quarter, compared to the consensus estimate of $586.25 million. As a group, analysts predict that Okta, Inc. will post -1.51 earnings per share for the current fiscal year.

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.