Okta, Inc. (NASDAQ:OKTA) Shares Sold by PDT Partners LLC

PDT Partners LLC trimmed its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 85.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,583 shares of the company’s stock after selling 34,094 shares during the quarter. PDT Partners LLC’s holdings in Okta were worth $415,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Rockefeller Capital Management L.P. grew its holdings in Okta by 2.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 58,105 shares of the company’s stock worth $4,320,000 after buying an additional 1,441 shares in the last quarter. Vinva Investment Management Ltd grew its holdings in Okta by 8.0% in the 3rd quarter. Vinva Investment Management Ltd now owns 7,445 shares of the company’s stock worth $551,000 after buying an additional 552 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Okta by 7.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,547 shares of the company’s stock worth $8,813,000 after buying an additional 8,239 shares in the last quarter. Blueshift Asset Management LLC bought a new position in Okta in the 3rd quarter worth approximately $998,000. Finally, Glenmede Trust Co. NA grew its holdings in Okta by 17.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 510,658 shares of the company’s stock worth $37,962,000 after buying an additional 76,588 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Price Performance

OKTA opened at $81.71 on Wednesday. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50. The stock has a fifty day moving average of $75.03 and a 200-day moving average of $84.42. The firm has a market capitalization of $13.88 billion, a P/E ratio of -97.27, a PEG ratio of 19.79 and a beta of 1.00.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OKTA. BTIG Research decreased their price objective on Okta from $128.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Robert W. Baird decreased their price target on Okta from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Scotiabank decreased their price target on Okta from $104.00 to $92.00 and set a “sector perform” rating for the company in a research note on Thursday, August 29th. DA Davidson decreased their price target on Okta from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Finally, Royal Bank of Canada decreased their price target on Okta from $125.00 to $101.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Okta currently has an average rating of “Hold” and a consensus price target of $98.62.

Insider Buying and Selling

In related news, insider Larissa Schwartz sold 2,790 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.01, for a total transaction of $206,487.90. Following the completion of the sale, the insider now directly owns 27,713 shares in the company, valued at approximately $2,051,039.13. This trade represents a 9.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 sale, the executive now owns 14,601 shares of the company’s stock, 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. Over the last ninety days, insiders sold 475,789 shares of company stock worth $35,701,361. Corporate insiders own 7.00% of the company’s stock.

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.