Sherbrooke Park Advisers LLC Decreases Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Sherbrooke Park Advisers LLC decreased its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 28.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,669 shares of the company’s stock after selling 4,657 shares during the period. Sherbrooke Park Advisers LLC’s holdings in Okta were worth $920,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of Jackson Hole Trust bought a new position in shares of Okta during the 4th quarter valued at $25,000. TD Private Client Wealth LLC lifted its holdings in Okta by 3,507.7% in the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock valued at $37,000 after acquiring an additional 456 shares during the period. Brown Brothers Harriman & Co. bought a new position in Okta in the fourth quarter valued at about $43,000. Wingate Wealth Advisors Inc. purchased a new position in Okta in the fourth quarter worth about $44,000. Finally, Blue Trust Inc. boosted its position in Okta by 103.8% in the fourth quarter. Blue Trust Inc. now owns 758 shares of the company’s stock worth $56,000 after purchasing an additional 386 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Trading Up 0.9%

OKTA stock opened at $124.39 on Friday. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $125.48. The stock has a market capitalization of $21.59 billion, a price-to-earnings ratio of -355.40, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm’s fifty day simple moving average is $107.74 and its two-hundred day simple moving average is $93.48.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on OKTA shares. Stifel Nicolaus upped their price target on shares of Okta from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Scotiabank boosted their target price on shares of Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 4th. UBS Group set a $135.00 price target on shares of Okta in a research report on Tuesday, March 4th. Roth Capital began coverage on shares of Okta in a research note on Wednesday, April 23rd. They set a “buy” rating and a $119.00 price target on the stock. Finally, The Goldman Sachs Group upped their price objective on Okta from $107.00 to $123.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.74.

Insider Activity at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 130,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total value of $13,650,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Jonathan James Addison sold 7,005 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $101.19, for a total value of $708,835.95. Following the completion of the sale, the executive now owns 19,067 shares in the company, valued at approximately $1,929,389.73. The trade was a 26.87% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 154,452 shares of company stock worth $16,347,360. Insiders own 7.00% of the company’s stock.

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.