Okta, Inc. (NASDAQ:OKTA) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lessened its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 67.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,951 shares of the company’s stock after selling 16,224 shares during the period. Bank of Nova Scotia’s holdings in Okta were worth $627,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Frank Rimerman Advisors LLC grew its stake in shares of Okta by 2.4% during the 4th quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock worth $352,000 after purchasing an additional 105 shares during the period. Stephens Inc. AR grew its position in Okta by 5.0% during the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock worth $260,000 after buying an additional 157 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Okta by 2.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock valued at $605,000 after buying an additional 180 shares in the last quarter. Great Lakes Advisors LLC lifted its position in shares of Okta by 2.7% during the 4th quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company’s stock valued at $557,000 after acquiring an additional 184 shares during the period. Finally, CHICAGO TRUST Co NA boosted its stake in shares of Okta by 6.5% during the 4th quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock worth $246,000 after acquiring an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Trading Down 0.9 %

Shares of OKTA stock opened at $100.88 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $118.07. The firm’s 50 day moving average price is $102.22 and its two-hundred day moving average price is $88.03. The stock has a market cap of $17.51 billion, a price-to-earnings ratio of -288.23, a price-to-earnings-growth ratio of 6.42 and a beta of 1.07.

Analyst Ratings Changes

OKTA has been the subject of several research analyst reports. Citigroup lifted their price objective on Okta from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. BTIG Research reaffirmed a “buy” rating on shares of Okta in a research note on Tuesday, March 4th. Jefferies Financial Group increased their price objective on shares of Okta from $90.00 to $110.00 and gave the company a “hold” 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 company an “outperform” rating in a report on Tuesday, March 4th. Finally, UBS Group set a $135.00 price target on shares of Okta in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $116.09.

Insiders Place Their Bets

In other news, insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the sale, the insider now owns 22,125 shares in the company, valued at $2,524,241.25. This trade represents a 34.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brett Tighe sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total transaction of $445,000.00. Following the completion of the transaction, the chief financial officer now owns 112,533 shares of the company’s stock, valued at $10,015,437. This trade represents a 4.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 761,197 shares of company stock worth $70,662,533 over the last quarter. 7.00% of the stock is owned by corporate insiders.

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.