Rather & Kittrell Inc. Sells 1,653 Shares of Okta, Inc. (NASDAQ:OKTA)

Rather & Kittrell Inc. decreased its stake in Okta, Inc. (NASDAQ:OKTA) by 29.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,979 shares of the company’s stock after selling 1,653 shares during the period. Rather & Kittrell Inc.’s holdings in Okta were worth $314,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in shares of Okta in the 4th quarter valued at about $234,992,000. Geode Capital Management LLC grew its holdings in Okta by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company’s stock worth $212,385,000 after purchasing an additional 135,110 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Okta by 54.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,241,220 shares of the company’s stock worth $97,808,000 after buying an additional 440,171 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Okta by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company’s stock valued at $87,903,000 after buying an additional 46,064 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Okta by 570.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 869,362 shares of the company’s stock valued at $68,506,000 after buying an additional 739,707 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OKTA. Wells Fargo & Company increased their price target on Okta from $95.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Royal Bank of Canada raised their target price on shares of Okta from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. Stifel Nicolaus upped their price target on shares of Okta from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Westpark Capital reissued a “buy” rating and issued a $140.00 price target on shares of Okta in a report on Friday, February 28th. Finally, UBS Group set a $135.00 price objective on Okta in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.09.

Okta Price Performance

Shares of Okta stock opened at $100.21 on Wednesday. The stock has a market capitalization of $17.40 billion, a price-to-earnings ratio of -286.31, a price-to-earnings-growth ratio of 6.42 and a beta of 1.07. The company has a fifty day moving average of $102.27 and a 200-day moving average of $88.11. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $118.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Insider Buying and Selling at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 3,306 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $88.85, for a total value of $293,738.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $89.58, for a total value of $242,224.32. Following the sale, the insider now directly owns 23,311 shares of the company’s stock, valued at approximately $2,088,199.38. This trade represents a 10.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 768,202 shares of company stock worth $71,371,369 over the last three months. Company insiders own 7.00% of the company’s stock.

Okta 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.