Harber Asset Management LLC Sells 14,684 Shares of Okta, Inc. (NASDAQ:OKTA)

Harber Asset Management LLC cut its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 6.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 208,566 shares of the company’s stock after selling 14,684 shares during the quarter. Okta comprises 4.6% of Harber Asset Management LLC’s holdings, making the stock its 7th biggest position. Harber Asset Management LLC’s holdings in Okta were worth $15,505,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Caprock Group LLC lifted its stake in Okta by 4.7% during the second quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock worth $267,000 after purchasing an additional 129 shares during the period. National Bank of Canada FI grew its stake in Okta by 11.0% in the 2nd quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock valued at $124,000 after buying an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC grew 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 purchasing an additional 142 shares in the last quarter. CWM LLC raised its stake in Okta by 5.3% during the second quarter. CWM LLC now owns 2,910 shares of the company’s stock worth $272,000 after acquiring an additional 147 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in Okta by 4.6% in the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock valued at $306,000 after acquiring an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada decreased their target price on Okta from $125.00 to $101.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. DA Davidson lowered their target price on shares of Okta from $85.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. Bank of America lowered shares of Okta from a “buy” rating to an “underperform” rating and cut their price objective for the company from $135.00 to $75.00 in a report on Thursday, August 29th. Mizuho decreased their target price on Okta from $104.00 to $92.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Finally, BTIG Research dropped their price objective on shares of Okta from $128.00 to $98.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $98.62.

Okta Price Performance

Shares of NASDAQ OKTA opened at $80.85 on Tuesday. The business has a 50-day moving average of $74.94 and a 200-day moving average of $84.56. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $114.50. The stock has a market capitalization of $13.73 billion, a price-to-earnings ratio of -96.25, a PEG ratio of 18.99 and a beta of 1.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83.

Insider Buying and Selling at Okta

In related news, insider Larissa Schwartz sold 2,791 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $71.50, for a total value of $199,556.50. Following the completion of the sale, the insider now owns 22,125 shares in the company, valued at $1,581,937.50. The trade was a 11.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Jonathan James Addison sold 9,850 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $77.63, for a total value of $764,655.50. Following the completion of the sale, the executive now directly owns 14,601 shares in the company, valued at approximately $1,133,475.63. This represents a 40.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 475,789 shares of company stock valued at $35,701,361. 7.00% of the stock is currently owned by company insiders.

About Okta

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.