Sherbrooke Park Advisers LLC Sells 4,657 Shares of Okta, Inc. (NASDAQ:OKTA)

Sherbrooke Park Advisers LLC decreased its position in shares of Okta, Inc. (NASDAQ:OKTA) by 28.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,669 shares of the company’s stock after selling 4,657 shares during the quarter. Sherbrooke Park Advisers LLC’s holdings in Okta were worth $920,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Frank Rimerman Advisors LLC raised its holdings in shares of Okta by 2.4% in the fourth quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock valued at $352,000 after acquiring an additional 105 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Okta by 1.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company’s stock valued at $620,000 after purchasing an additional 136 shares during the period. Stephens Inc. AR raised its holdings in shares of Okta by 5.0% in the 4th quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock valued at $260,000 after purchasing an additional 157 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Okta by 3.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,646 shares of the company’s stock valued at $445,000 after purchasing an additional 171 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Okta by 2.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock worth $605,000 after purchasing an additional 180 shares during the period. Institutional investors own 86.64% of the company’s stock.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $124.39 on Friday. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $125.48. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The company has a market cap of $21.59 billion, a PE ratio of -355.40, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96. The company’s 50 day moving average is $107.74 and its 200 day moving average is $93.48.

Insider Buying and Selling at Okta

In other Okta news, CRO Jonathan James Addison sold 7,005 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $101.19, for a total value of $708,835.95. Following the completion of the transaction, the executive now directly owns 19,067 shares of the company’s stock, valued at approximately $1,929,389.73. The trade was a 26.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eric Robert Kelleher sold 5,895 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $113.75, for a total value of $670,556.25. Following the completion of the sale, the insider now owns 9,828 shares in the company, valued at approximately $1,117,935. This represents a 37.49% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 154,452 shares of company stock worth $16,347,360. Company insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

OKTA has been the topic of several research reports. Robert W. Baird lifted their price objective on shares of Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Morgan Stanley dropped their target price on Okta from $125.00 to $123.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Mizuho lifted their price target on Okta from $127.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday. Loop Capital began coverage on Okta in a research note on Monday, May 5th. They set a “buy” rating and a $140.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price objective on Okta from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Okta has an average rating of “Moderate Buy” and a consensus target price of $117.74.

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.