Crossmark Global Holdings Inc. Cuts Holdings in Okta, Inc. (NASDAQ:OKTA)

Crossmark Global Holdings Inc. lowered its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,347 shares of the company’s stock after selling 189 shares during the period. Crossmark Global Holdings Inc.’s holdings in Okta were worth $472,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Okta by 0.8% during the first quarter. Vanguard Group Inc. now owns 15,848,525 shares of the company’s stock worth $1,658,073,000 after buying an additional 128,906 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Okta by 117.4% during the 2nd quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock valued at $212,841,000 after acquiring an additional 1,227,890 shares in the last quarter. Eminence Capital LP raised its holdings in shares of Okta by 18.1% during the 2nd quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock valued at $186,225,000 after buying an additional 305,381 shares during the period. Primecap Management Co. CA lifted its holdings in Okta by 0.8% in the 2nd quarter. Primecap Management Co. CA now owns 1,356,216 shares of the company’s stock worth $126,955,000 after buying an additional 10,800 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Okta by 20.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,029,753 shares of the company’s stock valued at $96,388,000 after buying an additional 178,011 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Transactions at Okta

In other Okta news, insider Larissa Schwartz sold 2,790 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.01, for a total transaction of $206,487.90. Following the sale, the insider now directly owns 27,713 shares in the company, valued at approximately $2,051,039.13. This trade represents a 9.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Jonathan James Addison sold 9,850 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $77.63, for a total transaction of $764,655.50. Following the completion of the sale, the executive now directly owns 14,601 shares in the company, valued at $1,133,475.63. This represents a 40.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 475,789 shares of company stock worth $35,701,361 in the last quarter. 7.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

OKTA has been the topic of several research analyst reports. Jefferies Financial Group reduced their price objective on Okta from $100.00 to $85.00 and set a “hold” rating on the stock in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft lowered Okta from a “buy” rating to a “hold” rating and cut their price objective for the company from $115.00 to $85.00 in a report on Tuesday, November 12th. Susquehanna reduced their price objective on Okta from $110.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Needham & Company LLC started coverage on shares of Okta in a research note on Thursday, October 17th. They set a “buy” rating and a $100.00 target price on the stock. Finally, DA Davidson cut their target price on shares of Okta from $85.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Okta currently has a consensus rating of “Hold” and a consensus target price of $98.90.

Okta Price Performance

Shares of Okta stock opened at $73.66 on Friday. Okta, Inc. has a twelve month low of $66.69 and a twelve month high of $114.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. The firm has a market cap of $12.51 billion, a P/E ratio of -87.69, a price-to-earnings-growth ratio of 17.93 and a beta of 1.02. The firm’s 50-day simple moving average is $74.52 and its 200-day simple moving average is $86.17.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.29. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. The business had revenue of $646.00 million for the quarter, compared to analyst estimates of $632.24 million. As a group, research analysts expect that Okta, Inc. will post 0.19 EPS for the current fiscal year.

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.