Sciencast Management LP Sells 14,443 Shares of Okta, Inc. (NASDAQ:OKTA)

Sciencast Management LP trimmed its holdings in Okta, Inc. (NASDAQ:OKTA) by 38.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,861 shares of the company’s stock after selling 14,443 shares during the period. Sciencast Management LP’s holdings in Okta were worth $1,801,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. bought a new stake in Okta in the third quarter worth $25,000. Bank of Jackson Hole Trust bought a new stake in Okta during the fourth quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new stake in Okta during the third quarter worth approximately $32,000. TD Private Client Wealth LLC boosted its position in Okta by 3,507.7% during the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock worth $37,000 after purchasing an additional 456 shares during the period. Finally, Modus Advisors LLC bought a new stake in Okta during the fourth quarter worth approximately $44,000. 86.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Scotiabank upped their price objective on shares of Okta from $94.00 to $109.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 4th. Piper Sandler lifted their price objective on Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. BMO Capital Markets lifted their price target on shares of Okta from $105.00 to $130.00 and gave the company a “market perform” rating in a report on Monday, March 10th. Oppenheimer lifted their price target on shares of Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Finally, Barclays lifted their target price on shares of Okta from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $115.29.

Insider Buying and Selling

In related news, Director Jacques Frederic Kerrest sold 3,306 shares of Okta stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $88.85, for a total value of $293,738.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.50, for a total value of $217,672.00. Following the completion of the sale, the insider now directly owns 24,462 shares in the company, valued at approximately $1,969,191. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 763,901 shares of company stock worth $70,880,205. 7.00% of the stock is owned by corporate insiders.

Okta Stock Up 0.8 %

NASDAQ:OKTA opened at $113.74 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market cap of $19.75 billion, a PE ratio of -324.97, a PEG ratio of 6.42 and a beta of 1.09. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $116.96. The stock has a 50-day simple moving average of $97.48 and a 200 day simple moving average of $84.32.

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.