Commerce Bank Sells 1,020 Shares of Okta, Inc. (NASDAQ:OKTA)

Commerce Bank reduced its holdings in Okta, Inc. (NASDAQ:OKTA) by 27.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,715 shares of the company’s stock after selling 1,020 shares during the period. Commerce Bank’s holdings in Okta were worth $644,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of OKTA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Okta by 13.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 22,402 shares of the company’s stock worth $5,481,000 after buying an additional 2,694 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of Okta by 18.8% during the second quarter. O Shaughnessy Asset Management LLC now owns 392 shares of the company’s stock valued at $96,000 after purchasing an additional 62 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position in shares of Okta by 2.8% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 21,482 shares of the company’s stock valued at $5,256,000 after purchasing an additional 584 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Okta during the second quarter valued at approximately $4,571,000. Finally, Principal Financial Group Inc. increased its position in shares of Okta by 16.9% during the second quarter. Principal Financial Group Inc. now owns 16,496 shares of the company’s stock valued at $4,036,000 after purchasing an additional 2,380 shares during the period. 72.02% of the stock is currently owned by institutional investors.

NASDAQ:OKTA opened at $204.41 on Friday. Okta, Inc. has a 1-year low of $184.02 and a 1-year high of $294.00. The business’s 50-day moving average price is $226.66 and its two-hundred day moving average price is $240.66. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $31.79 billion, a price-to-earnings ratio of -43.68 and a beta of 1.01.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, December 1st. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.17. Okta had a negative return on equity of 14.80% and a negative net margin of 59.29%. The firm had revenue of $350.68 million for the quarter, compared to analyst estimates of $327.33 million. During the same quarter in the prior year, the firm posted ($0.38) earnings per share. Sell-side analysts predict that Okta, Inc. will post -4.37 earnings per share for the current year.

A number of analysts have recently issued reports on OKTA shares. Zacks Investment Research upgraded Okta from a “sell” rating to a “buy” rating and set a $244.00 price objective on the stock in a research report on Wednesday, December 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on Okta from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, December 3rd. Needham & Company LLC restated a “buy” rating and set a $320.00 price objective on shares of Okta in a research report on Thursday, December 2nd. Piper Sandler upgraded Okta from a “neutral” rating to an “overweight” rating and upped their price target for the company from $250.00 to $270.00 in a research report on Thursday, December 2nd. Finally, Robert W. Baird lowered their price target on Okta from $265.00 to $230.00 and set a “neutral” rating on the stock in a research report on Thursday, December 2nd. Five research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $282.92.

In other Okta news, insider Brett Tighe sold 3,343 shares of the stock in a transaction dated Thursday, December 16th. The stock was sold at an average price of $214.89, for a total value of $718,377.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christopher K. Kramer sold 991 shares of the stock in a transaction dated Thursday, December 16th. The stock was sold at an average price of $214.89, for a total value of $212,955.99. The disclosure for this sale can be found here. Insiders sold 56,822 shares of company stock valued at $13,329,783 over the last 90 days. Corporate insiders own 9.60% of the company’s stock.

About Okta

Okta, Inc engages in the provision of identity management platform for the enterprise. It operates through United States and International geographical segments. The firm’s products include single sign-on, multi factor authentication, API access management, authentication, user management, and lifecycle management.

Further Reading: What are municipal bonds?

Want to see what other hedge funds are holding OKTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Okta, Inc. (NASDAQ:OKTA).

Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

Receive News & Ratings for Okta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta and related companies with MarketBeat.com's FREE daily email newsletter.