Triumph Capital Management Sells 328 Shares of Okta, Inc. (NASDAQ:OKTA)

Triumph Capital Management cut its stake in Okta, Inc. (NASDAQ:OKTA) by 7.0% in the fourth quarter, HoldingsChannel reports. The fund owned 4,365 shares of the company’s stock after selling 328 shares during the period. Triumph Capital Management’s holdings in Okta were worth $395,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of OKTA. Commonwealth Equity Services LLC raised its stake in shares of Okta by 1.2% in the third quarter. Commonwealth Equity Services LLC now owns 28,302 shares of the company’s stock worth $2,307,000 after acquiring an additional 333 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Okta by 8.8% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 36,000 shares of the company’s stock worth $2,934,000 after buying an additional 2,900 shares during the period. Kingswood Wealth Advisors LLC acquired a new stake in shares of Okta during the 3rd quarter worth approximately $223,000. Robeco Institutional Asset Management B.V. grew its holdings in Okta by 9.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 91,807 shares of the company’s stock valued at $7,483,000 after purchasing an additional 7,986 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in Okta by 48.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 19,567 shares of the company’s stock valued at $1,595,000 after purchasing an additional 6,350 shares during the period. 86.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OKTA. Evercore ISI boosted their price objective on shares of Okta from $70.00 to $102.00 and gave the company an “in-line” rating in a report on Thursday, February 29th. Bank of America upgraded shares of Okta from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $64.00 to $135.00 in a report on Thursday, February 29th. Oppenheimer boosted their price objective on shares of Okta from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Piper Sandler boosted their price objective on shares of Okta from $85.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Finally, Jefferies Financial Group restated a “hold” rating and set a $95.00 price objective (up previously from $85.00) on shares of Okta in a report on Friday, January 5th. Twenty equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $100.39.

Okta Stock Performance

Shares of OKTA stock opened at $93.34 on Thursday. The company’s fifty day simple moving average is $99.86 and its 200-day simple moving average is $86.44. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.67 and a quick ratio of 1.67. Okta, Inc. has a 12 month low of $65.04 and a 12 month high of $114.50.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.35. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. The firm had revenue of $605.00 million for the quarter, compared to analyst estimates of $586.25 million. On average, research analysts predict that Okta, Inc. will post -1.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Okta news, CAO Shibu Ninan sold 2,500 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $90.23, for a total transaction of $225,575.00. Following the sale, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at $590,013.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Shellye L. Archambeau sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $106.96, for a total value of $534,800.00. Following the transaction, the director now directly owns 6,042 shares in the company, valued at $646,252.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Shibu Ninan sold 2,500 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $90.23, for a total transaction of $225,575.00. Following the completion of the transaction, the chief accounting officer now owns 6,539 shares in the company, valued at $590,013.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,779 shares of company stock valued at $1,205,990. 7.36% of the stock is currently 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.