Stratos Wealth Partners LTD. Has $439,000 Stock Position in Okta, Inc. (NASDAQ:OKTA)

Stratos Wealth Partners LTD. lessened its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 25.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,569 shares of the company’s stock after selling 1,938 shares during the period. Stratos Wealth Partners LTD.’s holdings in Okta were worth $439,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in shares of Okta during the 3rd quarter worth approximately $25,000. Blue Trust Inc. grew its stake 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 buying an additional 191 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in Okta during the third quarter worth $32,000. Modus Advisors LLC bought a new stake in Okta during the fourth quarter worth $44,000. Finally, Planning Capital Management Corp acquired a new stake in Okta in the third quarter valued at $49,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OKTA has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded shares of Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price objective on the stock in a research note on Monday, December 16th. Canaccord Genuity Group boosted their price target on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Susquehanna raised their price objective on Okta from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Citigroup boosted their target price on Okta from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Finally, Sanford C. Bernstein cut their price target on Okta from $129.00 to $124.00 and set an “outperform” rating for the company in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Okta has an average rating of “Hold” and an average target price of $104.87.

Okta Trading Down 1.9 %

Shares of Okta stock opened at $95.78 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50. The company has a market capitalization of $16.41 billion, a price-to-earnings ratio of -273.66, a PEG ratio of 6.58 and a beta of 1.03. The firm’s 50-day moving average price is $86.61 and its two-hundred day moving average price is $82.08.

Insider Transactions at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 390,000 shares of Okta stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $87.09, for a total value of $33,965,100.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brett Tighe sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total value of $445,000.00. Following the transaction, the chief financial officer now directly owns 112,533 shares of the company’s stock, valued at approximately $10,015,437. The trade was a 4.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 978,168 shares of company stock valued at $84,758,269. Company 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.