Crossmark Global Holdings Inc. Sells 189 Shares of Okta, Inc. (NASDAQ:OKTA)

Crossmark Global Holdings Inc. lowered its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 2.9% in the third quarter, HoldingsChannel reports. The firm owned 6,347 shares of the company’s stock after selling 189 shares during the period. Crossmark Global Holdings Inc.’s holdings in Okta were worth $472,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Marshall Wace LLP boosted its holdings in Okta by 117.4% in the 2nd quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock valued at $212,841,000 after purchasing an additional 1,227,890 shares during the period. Eminence Capital LP increased its holdings in shares of Okta by 18.1% during the second quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock worth $186,225,000 after buying an additional 305,381 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Okta by 232.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock worth $29,479,000 after purchasing an additional 277,084 shares during the last quarter. Truist Financial Corp raised its stake in shares of Okta by 62.5% during the second quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after acquiring an additional 200,770 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Okta by 20.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,029,753 shares of the company’s stock worth $96,388,000 after purchasing an additional 178,011 shares during the period. 86.64% of the stock is owned by institutional investors.

Insider Activity at Okta

In other news, insider Larissa Schwartz sold 2,790 shares of Okta stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.01, for a total value of $206,487.90. Following the completion of the sale, the insider now directly owns 27,713 shares in the company, valued at $2,051,039.13. The trade was a 9.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Todd Mckinnon sold 224,533 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $74.62, for a total value of $16,754,652.46. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 475,789 shares of company stock valued at $35,701,361. 7.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. UBS Group cut their target price on Okta from $120.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Scotiabank reduced their target price on shares of Okta from $104.00 to $92.00 and set a “sector perform” rating for the company in a research report on Thursday, August 29th. Piper Sandler reduced their target price on shares of Okta from $100.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut shares of Okta from a “buy” rating to a “hold” rating and lowered their target price for the stock from $115.00 to $85.00 in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada dropped their target price on shares of Okta from $125.00 to $101.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $98.90.

Okta Price Performance

Shares of NASDAQ OKTA opened at $73.66 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. Okta, Inc. has a 1 year low of $66.69 and a 1 year high of $114.50. The company’s 50-day moving average is $74.52 and its 200 day moving average is $86.17. The stock has a market capitalization of $12.51 billion, a P/E ratio of -87.69, a P/E/G ratio of 17.93 and a beta of 1.02.

Okta (NASDAQ:OKTA) last issued its quarterly 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 net margin of 5.55% and a negative return on equity of 1.10%. The company had revenue of $646.00 million during the quarter, compared to analyst estimates of $632.24 million. On average, sell-side analysts expect that Okta, Inc. will post 0.19 earnings per share 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.