Benjamin Edwards Inc. Sells 731 Shares of Okta, Inc. (NASDAQ:OKTA)

Benjamin Edwards Inc. lowered its stake in Okta, Inc. (NASDAQ:OKTA) by 10.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,068 shares of the company’s stock after selling 731 shares during the period. Benjamin Edwards Inc.’s holdings in Okta were worth $478,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of OKTA. ORG Partners LLC raised its position in shares of Okta by 74.3% in the 4th quarter. ORG Partners LLC now owns 9,900 shares of the company’s stock valued at $780,000 after buying an additional 4,221 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Okta by 2.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock valued at $605,000 after purchasing an additional 180 shares in the last quarter. Graypoint LLC bought a new stake in Okta during the fourth quarter worth $286,000. CHICAGO TRUST Co NA boosted its holdings in shares of Okta by 6.5% in the 4th quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock valued at $246,000 after purchasing an additional 191 shares in the last quarter. Finally, Oak Thistle LLC increased its stake in shares of Okta by 395.4% in the 4th quarter. Oak Thistle LLC now owns 39,485 shares of the company’s stock valued at $3,111,000 after purchasing an additional 31,514 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on OKTA. Cantor Fitzgerald began coverage on Okta in a research report on Monday, March 31st. They set an “overweight” rating and a $130.00 price objective for the company. Scotiabank raised their price target on shares of Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 4th. KeyCorp upped their price objective on shares of Okta from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. The Goldman Sachs Group increased their price objective on shares of Okta from $107.00 to $123.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada upped their price target on shares of Okta from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Okta has an average rating of “Moderate Buy” and an average target price of $116.80.

Insider Activity at Okta

In other Okta news, insider Larissa Schwartz sold 2,740 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total value of $267,396.60. Following the completion of the sale, the insider now owns 22,125 shares of the company’s stock, valued at approximately $2,159,178.75. This trade represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 value of $670,556.25. Following the sale, the insider now owns 9,828 shares of the company’s stock, valued at approximately $1,117,935. This represents a 37.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 157,192 shares of company stock valued at $16,614,756 in the last three months. Corporate insiders own 7.00% of the company’s stock.

Okta Trading Down 1.1 %

OKTA opened at $119.45 on Friday. The company has a market cap of $20.74 billion, a P/E ratio of -341.29, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96. The company has a fifty day moving average price of $106.73 and a two-hundred day moving average price of $92.20. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $121.93.

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.