Okta, Inc. (NASDAQ:OKTA) Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. cut its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 16.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,124 shares of the company’s stock after selling 4,436 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Okta were worth $1,822,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in Okta in the second quarter worth approximately $460,000. SG Americas Securities LLC lifted its position in Okta by 122.3% in the third quarter. SG Americas Securities LLC now owns 17,021 shares of the company’s stock worth $1,265,000 after purchasing an additional 9,364 shares during the period. Atomi Financial Group Inc. lifted its position in Okta by 24.9% in the third quarter. Atomi Financial Group Inc. now owns 2,747 shares of the company’s stock worth $204,000 after purchasing an additional 547 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Okta in the third quarter worth approximately $26,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in Okta by 333.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,300 shares of the company’s stock worth $97,000 after purchasing an additional 1,000 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Okta

In other news, CFO Brett Tighe sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $94.76, for a total transaction of $473,800.00. Following the transaction, the chief financial officer now directly owns 97,533 shares in the company, valued at approximately $9,242,227.08. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $93.00, for a total transaction of $12,090,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 913,168 shares of company stock worth $78,420,769 over the last ninety days. Corporate insiders own 7.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on OKTA shares. Wells Fargo & Company upped their price target on Okta from $80.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Susquehanna raised their price objective on Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group raised their price objective on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Scotiabank reduced their price objective on Okta from $96.00 to $94.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. Finally, Citigroup raised their price objective on Okta from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $104.55.

Okta Stock Up 0.0 %

NASDAQ:OKTA opened at $97.47 on Friday. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $114.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The company’s 50-day moving average price is $85.60 and its two-hundred day moving average price is $82.19.

Okta Company 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.