Gulf International Bank UK Ltd Sells 112 Shares of Okta, Inc. (NASDAQ:OKTA)

Gulf International Bank UK Ltd cut its position in Okta, Inc. (NASDAQ:OKTA) by 0.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 12,144 shares of the company’s stock after selling 112 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Okta were worth $956,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after buying an additional 191 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Okta by 3,719.2% in the 3rd quarter. International Assets Investment Management LLC now owns 9,739 shares of the company’s stock valued at $724,000 after acquiring an additional 9,484 shares in the last quarter. Financial Advocates Investment Management bought a new stake in shares of Okta during the 3rd quarter valued at about $228,000. Stephens Inc. AR grew its holdings in shares of Okta by 19.2% during the third quarter. Stephens Inc. AR now owns 3,139 shares of the company’s stock worth $233,000 after purchasing an additional 505 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its position 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 worth $127,000 after purchasing an additional 188 shares during the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OKTA. KeyCorp lifted their target price on shares of Okta from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Truist Financial reiterated a “hold” rating and issued a $92.00 target price (up from $80.00) on shares of Okta in a research report on Wednesday, December 4th. BMO Capital Markets raised their price target on Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group upped their price objective on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, BTIG Research raised their price objective on Okta from $98.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $105.67.

Okta Stock Up 1.5 %

Shares of NASDAQ OKTA opened at $90.49 on Monday. The firm has a fifty day simple moving average of $89.30 and a two-hundred day simple moving average of $82.44. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $114.50. 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 firm has a market capitalization of $15.51 billion, a PE ratio of -258.54, a price-to-earnings-growth ratio of 6.42 and a beta of 1.03.

Insider Activity at Okta

In related news, CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00. Following the sale, the chief financial officer now directly owns 112,533 shares in the company, valued at $10,015,437. The trade was a 4.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Todd Mckinnon sold 233,028 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The disclosure for this sale can be found here. Insiders have sold 849,482 shares of company stock worth $74,422,216 over the last 90 days. 7.00% of the stock is owned by company insiders.

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.