Sciencast Management LP Has $1.80 Million Holdings in Okta, Inc. (NASDAQ:OKTA)

Sciencast Management LP lessened its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 38.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 22,861 shares of the company’s stock after selling 14,443 shares during the quarter. Sciencast Management LP’s holdings in Okta were worth $1,801,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Bank of Jackson Hole Trust acquired a new position in shares of Okta during the 4th quarter worth approximately $25,000. Itau Unibanco Holding S.A. acquired a new position in shares of Okta in the third quarter valued at $25,000. Legacy Investment Solutions LLC acquired a new position in Okta in the 3rd quarter valued at about $32,000. TD Private Client Wealth LLC grew its stake in Okta by 3,507.7% in the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock valued at $37,000 after buying an additional 456 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new position in Okta in the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Up 0.8 %

Shares of NASDAQ OKTA opened at $113.74 on Friday. The company has a 50 day simple moving average of $97.48 and a 200 day simple moving average of $84.32. The firm has a market cap of $19.75 billion, a PE ratio of -324.97, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $116.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

Insider Activity

In related news, insider Larissa Schwartz sold 11,552 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the transaction, the insider now directly owns 22,125 shares of the company’s stock, valued at $2,524,241.25. This trade represents a 34.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brett Tighe sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total value of $445,000.00. Following the transaction, the chief financial officer now directly owns 112,533 shares of the company’s stock, valued at approximately $10,015,437. This represents a 4.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 763,901 shares of company stock valued at $70,880,205. Insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

OKTA has been the topic of several research reports. Westpark Capital reaffirmed a “buy” rating and issued a $140.00 target price on shares of Okta in a research report on Friday, February 28th. Scotiabank upped their price objective on Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a report on Tuesday, March 4th. BMO Capital Markets upped their price target on shares of Okta from $105.00 to $130.00 and gave the company a “market perform” rating in a research note on Monday, March 10th. Mizuho upgraded shares of Okta from a “neutral” rating to an “outperform” rating and upped their price target for the company from $110.00 to $127.00 in a research note on Tuesday, March 4th. Finally, JMP Securities restated a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $115.29.

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.