American Trust Has $487,000 Holdings in Okta, Inc. (NASDAQ:OKTA)

American Trust trimmed its holdings in Okta, Inc. (NASDAQ:OKTA) by 8.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,554 shares of the company’s stock after selling 568 shares during the period. American Trust’s holdings in Okta were worth $487,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in OKTA. Caprock Group LLC boosted its stake in Okta by 4.7% in the second quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock valued at $267,000 after buying an additional 129 shares in the last quarter. National Bank of Canada FI raised its stake in shares of Okta by 11.0% during the second quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock valued at $124,000 after acquiring an additional 130 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Okta by 4.6% during the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after purchasing an additional 182 shares during the period. Creative Financial Designs Inc. ADV increased its stake in shares of Okta by 12.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock valued at $127,000 after buying an additional 188 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after acquiring an additional 191 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Westpark Capital reissued a “buy” rating and set a $140.00 target price on shares of Okta in a research note on Wednesday, December 4th. BMO Capital Markets lifted their price objective on Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler upped their target price on Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Citigroup lifted their target price on Okta from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft cut Okta from a “buy” rating to a “hold” rating and cut their price target for the stock from $115.00 to $85.00 in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Okta has an average rating of “Hold” and a consensus price target of $103.77.

Okta Stock Down 2.3 %

OKTA stock opened at $81.99 on Friday. The stock has a market capitalization of $13.93 billion, a PE ratio of -234.26, a price-to-earnings-growth ratio of 8.93 and a beta of 1.00. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $114.50. The firm has a 50 day moving average of $76.84 and a 200 day moving average of $83.61.

Insider Transactions at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 131,426 shares of Okta stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the sale, the director now owns 1,622 shares of the company’s stock, valued at $130,862.96. The trade was a 98.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Todd Mckinnon sold 224,533 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $74.62, for a total value of $16,754,652.46. The disclosure for this sale can be found here. Insiders have sold 607,215 shares of company stock worth $46,304,810 over the last 90 days. 7.00% of the stock is currently owned by company insiders.

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.