Lindbrook Capital LLC Grows Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Lindbrook Capital LLC raised its position in shares of Okta, Inc. (NASDAQ:OKTA) by 61.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 782 shares of the company’s stock after purchasing an additional 298 shares during the period. Lindbrook Capital LLC’s holdings in Okta were worth $71,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in shares of Okta during the third quarter valued at about $27,000. Harvest Fund Management Co. Ltd bought a new position in shares of Okta during the third quarter valued at about $39,000. Quintet Private Bank Europe S.A. bought a new position in shares of Okta during the third quarter valued at about $64,000. Tucker Asset Management LLC bought a new position in shares of Okta during the third quarter valued at about $65,000. Finally, UMB Bank n.a. grew its stake in shares of Okta by 150.5% during the fourth quarter. UMB Bank n.a. now owns 749 shares of the company’s stock valued at $68,000 after buying an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. JPMorgan Chase & Co. raised their target price on Okta from $74.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Evercore ISI raised their target price on Okta from $70.00 to $102.00 and gave the stock an “in-line” rating in a research note on Thursday, February 29th. Sanford C. Bernstein raised their target price on Okta from $84.00 to $114.00 and gave the stock a “market perform” rating in a research note on Thursday, February 29th. The Goldman Sachs Group raised their target price on Okta from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Finally, BMO Capital Markets lifted their price objective on Okta from $80.00 to $110.00 and gave the company a “market perform” rating in a research report on Thursday, February 29th. Twenty analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $100.39.

Okta Trading Down 0.6 %

NASDAQ:OKTA opened at $93.76 on Thursday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. Okta, Inc. has a 12 month low of $65.04 and a 12 month high of $114.50. The company has a market cap of $15.70 billion, a PE ratio of -43.21 and a beta of 1.00. The company has a 50 day simple moving average of $99.45 and a two-hundred day simple moving average of $86.20.

Okta (NASDAQ:OKTA) last posted its earnings results on Wednesday, February 28th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.35. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. The business had revenue of $605.00 million during the quarter, compared to the consensus estimate of $586.25 million. Research analysts forecast that Okta, Inc. will post -1.51 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Shibu Ninan sold 4,279 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total transaction of $445,615.06. Following the completion of the sale, the chief accounting officer now owns 4,111 shares of the company’s stock, valued at approximately $428,119.54. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Shellye L. Archambeau sold 5,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $106.96, for a total transaction of $534,800.00. Following the completion of the sale, the director now owns 6,042 shares of the company’s stock, valued at approximately $646,252.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Shibu Ninan sold 4,279 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total transaction of $445,615.06. Following the completion of the transaction, the chief accounting officer now directly owns 4,111 shares of the company’s stock, valued at approximately $428,119.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,779 shares of company stock valued at $1,205,990. Company insiders own 7.36% of the company’s stock.

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.