National Bank of Canada FI Has $58,000 Holdings in Okta, Inc. (NASDAQ:OKTA)

National Bank of Canada FI trimmed its holdings in Okta, Inc. (NASDAQ:OKTA) by 40.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 786 shares of the company’s stock after selling 529 shares during the period. National Bank of Canada FI’s holdings in Okta were worth $58,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Itau Unibanco Holding S.A. bought a new stake in Okta in the 3rd quarter valued at $25,000. Future Financial Wealth Managment LLC acquired a new position in shares of Okta in the third quarter valued at $26,000. Blue Trust Inc. raised its position in shares of Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after purchasing an additional 191 shares during the period. First Command Advisory Services Inc. acquired a new stake in shares of Okta during the 2nd quarter worth about $47,000. Finally, nVerses Capital LLC bought a new stake in shares of Okta during the 2nd quarter worth about $47,000. 86.64% of the stock is currently owned by institutional investors.

Okta Stock Performance

NASDAQ OKTA opened at $85.42 on Wednesday. The firm’s fifty day moving average price is $77.34 and its two-hundred day moving average price is $83.38. The stock has a market cap of $14.64 billion, a PE ratio of -244.06, a PEG ratio of 8.61 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $114.50.

Insider Activity at Okta

In other news, CEO Todd Mckinnon sold 224,533 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $74.62, for a total transaction of $16,754,652.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Larissa Schwartz sold 2,791 shares of the firm’s 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 completion of the transaction, the insider now owns 22,125 shares of the company’s stock, valued at approximately $1,581,937.50. This trade represents a 11.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 604,425 shares of company stock valued at $46,098,322 in the last 90 days. 7.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

OKTA has been the topic of several research analyst reports. Scotiabank increased their price target on shares of Okta from $92.00 to $96.00 and gave the company a “sector perform” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. upgraded Okta from a “neutral” rating to an “overweight” rating and set a $100.00 target price on the stock in a research note on Monday. Susquehanna boosted their price target on Okta from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Westpark Capital reiterated a “buy” rating and set a $140.00 price objective on shares of Okta in a research report on Wednesday, December 4th. Finally, Barclays boosted their target price on shares of Okta from $81.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $104.43.

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.