Flagship Harbor Advisors LLC reduced its position in Okta, Inc. (NASDAQ:OKTA – Free Report) by 37.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,504 shares of the company’s stock after selling 2,121 shares during the period. Flagship Harbor Advisors LLC’s holdings in Okta were worth $276,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in Okta in the 3rd quarter valued at about $25,000. Future Financial Wealth Managment LLC acquired a new stake in Okta in the 3rd quarter valued at about $26,000. Blue Trust Inc. lifted 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 last quarter. Legacy Investment Solutions LLC acquired a new stake in Okta in the 3rd quarter valued at about $32,000. Finally, Modus Advisors LLC acquired a new stake in Okta in the 4th quarter valued at about $44,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Okta
In related news, Director Jacques Frederic Kerrest sold 390,000 shares of Okta stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $87.09, for a total value of $33,965,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd Mckinnon sold 233,028 shares of Okta stock in a transaction dated Friday, December 20th. The shares were 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. In the last ninety days, insiders have sold 775,959 shares of company stock valued at $65,583,725. 7.00% of the stock is currently owned by company insiders.
Okta Stock Performance
Analyst Ratings Changes
Several research firms have weighed in on OKTA. Sanford C. Bernstein lowered their price target on shares of Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a report on Tuesday, December 17th. Truist Financial reissued a “hold” rating and issued a $92.00 price target (up from $80.00) on shares of Okta in a report on Wednesday, December 4th. Robert W. Baird increased their price target on shares of Okta from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Piper Sandler increased their price target on shares of Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Finally, Westpark Capital reissued a “buy” rating and issued a $140.00 price target on shares of Okta in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $104.55.
Read Our Latest Research Report on OKTA
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.
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