Gilbert & Cook Inc. Sells 368 Shares of Okta, Inc. (NASDAQ:OKTA)

Gilbert & Cook Inc. reduced its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,662 shares of the company’s stock after selling 368 shares during the quarter. Gilbert & Cook Inc.’s holdings in Okta were worth $1,016,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of OKTA. Future Financial Wealth Managment LLC bought a new stake in shares of Okta during the 3rd quarter worth $26,000. Blue Trust Inc. lifted its position in shares of Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after buying an additional 191 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Okta by 71.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after buying an additional 142 shares during the last quarter. First Command Advisory Services Inc. bought a new stake in shares of Okta during the 2nd quarter worth $47,000. Finally, nVerses Capital LLC bought a new stake in shares of Okta during the 2nd quarter worth $47,000. 86.64% of the stock is currently owned by institutional investors.

Okta Trading Down 4.3 %

Shares of NASDAQ:OKTA opened at $73.66 on Friday. Okta, Inc. has a 52-week low of $66.69 and a 52-week high of $114.50. The stock has a 50 day moving average price of $74.52 and a 200-day moving average price of $86.17. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.29. The firm had revenue of $646.00 million during the quarter, compared to analyst estimates of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. On average, equities research analysts forecast that Okta, Inc. will post 0.19 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on OKTA shares. UBS Group lowered their target price on Okta from $120.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Needham & Company LLC started coverage on Okta in a report on Thursday, October 17th. They issued a “buy” rating and a $100.00 target price for the company. Susquehanna lowered their target price on Okta from $110.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Piper Sandler lowered their target price on Okta from $100.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. Finally, Scotiabank lowered their target price on Okta from $104.00 to $92.00 and set a “sector perform” rating for the company in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $98.90.

Insider Buying and Selling at Okta

In other news, CEO Todd Mckinnon sold 224,533 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $74.62, for a total value of $16,754,652.46. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Larissa Schwartz sold 2,790 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.01, for a total value of $206,487.90. Following the completion of the transaction, the insider now directly owns 27,713 shares in the company, valued at approximately $2,051,039.13. This represents a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 475,789 shares of company stock worth $35,701,361. 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.