GraniteShares Advisors LLC Sells 1,238 Shares of Okta, Inc. (NASDAQ:OKTA)

GraniteShares Advisors LLC cut its position in Okta, Inc. (NASDAQ:OKTA) by 19.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,097 shares of the company’s stock after selling 1,238 shares during the quarter. GraniteShares Advisors LLC’s holdings in Okta were worth $402,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Stephens Inc. AR boosted its stake in 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 during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Okta by 2.3% in the 4th 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 during the period. Creative Financial Designs Inc. ADV boosted its stake in Okta by 12.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock valued at $127,000 after purchasing an additional 188 shares during the period. Blue Trust Inc. boosted its stake in Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after purchasing an additional 191 shares during the period. Finally, CHICAGO TRUST Co NA boosted its stake in 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 during the period. 86.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Okta

In other Okta news, CEO Todd Mckinnon sold 233,028 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Larissa Schwartz sold 2,740 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were 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 in the company, valued at $2,159,178.75. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 980,908 shares of company stock worth $85,025,665. Insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on OKTA. Royal Bank of Canada restated an “outperform” rating and issued a $101.00 price target on shares of Okta in a research note on Wednesday, December 4th. Canaccord Genuity Group upped their target price on Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group upped their target price on Okta from $97.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Mizuho upped their target price on Okta from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Finally, Scotiabank cut their target price on Okta from $96.00 to $94.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $106.13.

Okta Price Performance

Shares of OKTA opened at $89.34 on Wednesday. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50. The business has a 50-day simple moving average of $88.84 and a two-hundred day simple moving average of $82.52. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The stock has a market cap of $15.31 billion, a PE ratio of -255.26, a PEG ratio of 6.42 and a beta of 1.03.

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.