B. Metzler seel. Sohn & Co. Holding AG Takes Position in Okta, Inc. (NASDAQ:OKTA)

B. Metzler seel. Sohn & Co. Holding AG bought a new position in Okta, Inc. (NASDAQ:OKTA) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,126 shares of the company’s stock, valued at approximately $307,000.

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

Analyst Ratings Changes

Several analysts recently commented on the company. Royal Bank of Canada reduced their target price on Okta from $125.00 to $101.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Susquehanna dropped their price objective on Okta from $110.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Jefferies Financial Group cut their price target on Okta from $100.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, September 24th. Bank of America lowered shares of Okta from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $135.00 to $75.00 in a research note on Thursday, August 29th. Finally, Truist Financial cut their target price on shares of Okta from $95.00 to $80.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $98.30.

Insider Activity at Okta

In other Okta news, insider Larissa Schwartz sold 2,791 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $71.50, for a total transaction of $199,556.50. Following 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd Mckinnon sold 200,512 shares of Okta stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the completion of the transaction, the chief executive officer now owns 8,495 shares in the company, valued at approximately $638,908.95. The trade was a 95.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 475,789 shares of company stock valued at $35,701,361. Corporate insiders own 7.00% of the company’s stock.

Okta Stock Performance

Shares of OKTA opened at $76.57 on Monday. The firm has a market cap of $13.01 billion, a PE ratio of -91.15, a PEG ratio of 18.47 and a beta of 1.02. Okta, Inc. has a 1 year low of $66.69 and a 1 year high of $114.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. The stock’s fifty day moving average price is $74.72 and its two-hundred day moving average price is $85.32.

Okta (NASDAQ:OKTA) last posted its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.29. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. The firm had revenue of $646.00 million for the quarter, compared to the consensus estimate of $632.24 million. On average, equities research analysts forecast that Okta, Inc. will post 0.19 EPS for the current year.

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.