Gilbert & Cook Inc. Sells 4,343 Shares of Okta, Inc. (NASDAQ:OKTA)

Gilbert & Cook Inc. trimmed its holdings in Okta, Inc. (NASDAQ:OKTA) by 31.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,319 shares of the company’s stock after selling 4,343 shares during the period. Gilbert & Cook Inc.’s holdings in Okta were worth $734,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OKTA. Thrivent Financial for Lutherans bought a new position in shares of Okta during the 2nd quarter worth $1,758,000. Mackenzie Financial Corp grew its stake in Okta by 19.7% during the second quarter. Mackenzie Financial Corp now owns 17,919 shares of the company’s stock valued at $1,677,000 after acquiring an additional 2,953 shares in the last quarter. Truist Financial Corp increased its position in Okta by 62.5% during the second quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after acquiring an additional 200,770 shares during the last quarter. Creekside Partners purchased a new stake in Okta during the second quarter worth $250,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Okta in the second quarter worth about $460,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Price Performance

Shares of OKTA stock traded up $1.22 during mid-day trading on Thursday, reaching $95.22. The company’s stock had a trading volume of 70,936 shares, compared to its average volume of 2,509,125. The firm’s 50-day moving average is $83.35 and its two-hundred day moving average is $82.15. 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 $16.32 billion, a P/E ratio of -272.28, a PEG ratio of 8.95 and a beta of 1.00. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $114.50.

Insider Transactions at Okta

In other news, insider Larissa Schwartz sold 2,791 shares of Okta stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $71.50, for a total transaction of $199,556.50. Following the completion of the transaction, the insider now directly owns 22,125 shares in the company, valued at $1,581,937.50. This trade represents a 11.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jacques Frederic Kerrest sold 3,306 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total value of $293,738.10. The disclosure for this sale can be found here. Insiders sold 775,959 shares of company stock valued at $65,583,725 over the last three months. Company insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

OKTA has been the subject of a number of analyst reports. BTIG Research boosted their price objective on Okta from $98.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Barclays raised their price target on Okta from $81.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. Westpark Capital restated a “buy” rating and issued a $140.00 price target on shares of Okta in a research report on Wednesday, December 4th. Canaccord Genuity Group upped their price objective on shares of Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, Canaccord Genuity Group increased their price target on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $104.55.

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.