Lindbrook Capital LLC Trims Stake in Okta, Inc. (NASDAQ:OKTA)

Lindbrook Capital LLC trimmed its stake in Okta, Inc. (NASDAQ:OKTA) by 27.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 332 shares of the company’s stock after selling 128 shares during the period. Lindbrook Capital LLC’s holdings in Okta were worth $26,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of OKTA. Bank of Jackson Hole Trust bought a new position in Okta in the 4th quarter worth $25,000. Itau Unibanco Holding S.A. bought a new position in Okta in the 3rd quarter worth $25,000. Legacy Investment Solutions LLC bought a new position in Okta in the 3rd quarter worth $32,000. Wingate Wealth Advisors Inc. bought a new position in shares of Okta during the 4th quarter valued at about $44,000. Finally, Modus Advisors LLC bought a new position in shares of Okta during the 4th quarter valued at about $44,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on OKTA shares. Morgan Stanley raised shares of Okta from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $92.00 to $97.00 in a report on Monday, December 2nd. Wells Fargo & Company increased their price objective on shares of Okta from $95.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Piper Sandler increased their price objective on shares of Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. The Goldman Sachs Group increased their price objective on shares of Okta from $107.00 to $123.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Finally, UBS Group increased their price objective on shares of Okta from $108.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Okta currently has an average rating of “Moderate Buy” and a consensus price target of $113.10.

Insider Activity

In other news, CEO Todd Mckinnon sold 233,028 shares of Okta stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $82.31, for a total transaction of $19,180,534.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the transaction, the insider now directly owns 24,462 shares of the company’s stock, valued at $1,969,191. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 979,482 shares of company stock valued at $88,072,216. Corporate insiders own 7.00% of the company’s stock.

Okta Stock Performance

Okta stock opened at $112.44 on Monday. The company has a 50 day moving average price of $91.72 and a 200-day moving average price of $82.79. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $116.96. The company has a market capitalization of $19.27 billion, a PE ratio of -321.26, a P/E/G ratio of 6.42 and a beta of 1.09.

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.