Choreo LLC Reduces Stock Position in Okta, Inc. (NASDAQ:OKTA)

Choreo LLC cut its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 11.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,997 shares of the company’s stock after selling 369 shares during the quarter. Choreo LLC’s holdings in Okta were worth $271,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. NBC Securities Inc. bought a new stake in shares of Okta in the 3rd quarter valued at approximately $27,000. GAMMA Investing LLC bought a new stake in shares of Okta in the 4th quarter valued at approximately $29,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Okta in the 3rd quarter valued at approximately $39,000. UMB Bank n.a. increased its holdings in shares of Okta by 150.5% in the 4th quarter. UMB Bank n.a. now owns 749 shares of the company’s stock valued at $68,000 after acquiring an additional 450 shares during the last quarter. Finally, Lindbrook Capital LLC increased its holdings in shares of Okta by 61.6% in the 4th quarter. Lindbrook Capital LLC now owns 782 shares of the company’s stock valued at $71,000 after acquiring an additional 298 shares during the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Okta

In related news, Director Shellye L. Archambeau sold 5,000 shares of Okta stock in a transaction on Thursday, March 14th. The stock was 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 $646,252.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Shellye L. Archambeau sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was 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 in the company, valued at approximately $646,252.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Shibu Ninan sold 4,279 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total value of $445,615.06. Following the sale, the chief accounting officer now owns 4,111 shares of the company’s stock, valued at approximately $428,119.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,779 shares of company stock valued at $1,205,990. Insiders own 7.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Okta from $74.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Oppenheimer boosted their price target on Okta from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Canaccord Genuity Group upped their price objective on Okta from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Thursday, February 29th. Jefferies Financial Group restated a “hold” rating and set a $95.00 price objective (up from $85.00) on shares of Okta in a research note on Friday, January 5th. Finally, Citigroup upped their price objective on Okta from $75.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Twenty research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $100.39.

Okta Stock Performance

OKTA opened at $96.55 on Friday. Okta, Inc. has a 1 year low of $65.04 and a 1 year high of $114.50. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.67 and a quick ratio of 1.67. The stock has a fifty day moving average price of $100.36 and a 200 day moving average price of $86.55.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.35. The firm had revenue of $605.00 million during the quarter, compared to analysts’ expectations of $586.25 million. Okta had a negative return on equity of 5.69% and a negative net margin of 15.69%. As a group, equities analysts expect that Okta, Inc. will post -1.51 EPS for the current year.

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.