Commerce Bank Cuts Position in Okta, Inc. (NASDAQ:OKTA)

Commerce Bank decreased its holdings in Okta, Inc. (NASDAQ:OKTA) by 27.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,715 shares of the company’s stock after selling 1,020 shares during the period. Commerce Bank’s holdings in Okta were worth $644,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of OKTA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Okta by 13.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 22,402 shares of the company’s stock valued at $5,481,000 after acquiring an additional 2,694 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in Okta by 18.8% in the second quarter. O Shaughnessy Asset Management LLC now owns 392 shares of the company’s stock valued at $96,000 after acquiring an additional 62 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in shares of Okta by 2.8% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 21,482 shares of the company’s stock worth $5,256,000 after buying an additional 584 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Okta during the second quarter worth approximately $4,571,000. Finally, Principal Financial Group Inc. grew its position in shares of Okta by 16.9% during the second quarter. Principal Financial Group Inc. now owns 16,496 shares of the company’s stock worth $4,036,000 after buying an additional 2,380 shares in the last quarter. 72.02% of the stock is owned by institutional investors.

OKTA has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Okta from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, December 3rd. Robert W. Baird decreased their price target on shares of Okta from $265.00 to $230.00 and set a “neutral” rating for the company in a research report on Thursday, December 2nd. Morgan Stanley decreased their price target on shares of Okta from $315.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday, December 2nd. Needham & Company LLC restated a “buy” rating and set a $320.00 price objective on shares of Okta in a research note on Thursday, December 2nd. Finally, BMO Capital Markets reduced their price objective on Okta from $293.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, December 2nd. Five investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $282.92.

In related news, CEO Todd Mckinnon sold 13,818 shares of Okta stock in a transaction dated Wednesday, October 20th. The stock was sold at an average price of $256.75, for a total transaction of $3,547,771.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Jonathan T. Runyan sold 1,680 shares of Okta stock in a transaction dated Thursday, December 16th. The stock was sold at an average price of $214.89, for a total value of $361,015.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,822 shares of company stock worth $13,329,783. 9.60% of the stock is owned by corporate insiders.

Shares of NASDAQ OKTA opened at $204.41 on Friday. Okta, Inc. has a fifty-two week low of $184.02 and a fifty-two week high of $294.00. The firm’s 50-day simple moving average is $226.66 and its 200 day simple moving average is $240.66. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.30. The stock has a market cap of $31.79 billion, a P/E ratio of -43.68 and a beta of 1.01.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Wednesday, December 1st. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.17. Okta had a negative net margin of 59.29% and a negative return on equity of 14.80%. The business had revenue of $350.68 million for the quarter, compared to analysts’ expectations of $327.33 million. During the same period in the previous year, the business earned ($0.38) earnings per share. On average, sell-side analysts anticipate that Okta, Inc. will post -4.37 earnings per share for the current fiscal year.

Okta Profile

Okta, Inc engages in the provision of identity management platform for the enterprise. It operates through United States and International geographical segments. The firm’s products include single sign-on, multi factor authentication, API access management, authentication, user management, and lifecycle management.

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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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