Crossmark Global Holdings Inc. Buys Shares of 6,536 Okta, Inc. (NASDAQ:OKTA)

Crossmark Global Holdings Inc. purchased a new position in Okta, Inc. (NASDAQ:OKTA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,536 shares of the company’s stock, valued at approximately $612,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in OKTA. City State Bank grew its position in Okta by 160.0% in the first quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after acquiring an additional 160 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Okta by 71.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after purchasing an additional 142 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Okta during the 4th quarter valued at about $29,000. Venturi Wealth Management LLC raised its holdings in shares of Okta by 50.4% during the 1st quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock valued at $41,000 after buying an additional 131 shares in the last quarter. Finally, First Command Advisory Services Inc. bought a new stake in Okta in the 2nd quarter worth approximately $47,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Price Performance

OKTA opened at $78.73 on Monday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.19. The company has a market cap of $13.24 billion, a price-to-earnings ratio of -47.14 and a beta of 1.03. The stock has a fifty day simple moving average of $93.07 and a two-hundred day simple moving average of $95.52. Okta, Inc. has a 12-month low of $65.04 and a 12-month high of $114.50.

Analyst Ratings Changes

A number of brokerages have commented on OKTA. Evercore ISI upgraded shares of Okta from an “in-line” rating to an “outperform” rating and increased their price target for the company from $102.00 to $122.00 in a research report on Thursday, May 30th. Citigroup decreased their target price on shares of Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday. Robert W. Baird cut their price target on shares of Okta from $108.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday. Jefferies Financial Group decreased their price objective on Okta from $110.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday. Finally, Bank of America lowered Okta from a “buy” rating to an “underperform” rating and lowered their target price for the company from $135.00 to $75.00 in a research note on Thursday. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $106.00.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 2,795 shares of Okta stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $92.02, for a total transaction of $257,195.90. Following the completion of the transaction, the insider now directly owns 27,014 shares of the company’s stock, valued at approximately $2,485,828.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Todd Mckinnon sold 179,687 shares of the firm’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $93.42, for a total transaction of $16,786,359.54. Following the completion of the transaction, the chief executive officer now directly owns 47,883 shares in the company, valued at $4,473,229.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Larissa Schwartz sold 2,795 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $92.02, for a total transaction of $257,195.90. Following the completion of the transaction, the insider now owns 27,014 shares in the company, valued at approximately $2,485,828.28. The disclosure for this sale can be found here. Insiders have sold 365,051 shares of company stock valued at $34,411,773 in the last three months. 7.00% of the stock is currently owned by company insiders.

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.