Thrivent Financial for Lutherans Sells 5,542 Shares of Okta, Inc. (NASDAQ:OKTA)

Thrivent Financial for Lutherans decreased its position in Okta, Inc. (NASDAQ:OKTA) by 29.5% during the fourth quarter, Holdings Channel reports. The fund owned 13,230 shares of the company’s stock after selling 5,542 shares during the period. Thrivent Financial for Lutherans’ holdings in Okta were worth $1,042,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in shares of Okta during the 3rd quarter worth $25,000. Bank of Jackson Hole Trust purchased a new position in Okta during the fourth quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new position in Okta during the third quarter valued at $32,000. Modus Advisors LLC bought a new stake in Okta during the fourth quarter valued at about $44,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Okta in the fourth quarter worth about $44,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Price Performance

Shares of Okta stock opened at $104.69 on Wednesday. The stock has a market cap of $18.17 billion, a price-to-earnings ratio of -299.11, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a 50 day moving average price of $101.00 and a 200-day moving average price of $86.31. Okta, Inc. has a one year low of $70.56 and a one year high of $118.07.

Insider Buying and Selling

In related news, insider Larissa Schwartz sold 11,552 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the transaction, the insider now directly owns 22,125 shares in the company, valued at approximately $2,524,241.25. This represents a 34.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brett Tighe sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00. Following the completion of the sale, 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. Insiders sold a total of 761,197 shares of company stock worth $70,662,533 over the last three months. 7.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OKTA. Robert W. Baird lifted their price objective on Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Truist Financial lifted their price target on shares of Okta from $92.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, March 4th. Stifel Nicolaus increased their price objective on shares of Okta from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Westpark Capital restated a “buy” rating and set a $140.00 target price on shares of Okta in a research note on Friday, February 28th. 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 research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Okta currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.09.

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.