Glenmede Trust Co. NA Has $37.96 Million Position in Okta, Inc. (NASDAQ:OKTA)

Glenmede Trust Co. NA grew its holdings in Okta, Inc. (NASDAQ:OKTA) by 17.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 510,658 shares of the company’s stock after acquiring an additional 76,588 shares during the period. Glenmede Trust Co. NA owned 0.30% of Okta worth $37,962,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of OKTA. Caprock Group LLC increased its position in Okta by 4.7% during the second quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock worth $267,000 after buying an additional 129 shares during the last quarter. National Bank of Canada FI lifted its holdings in Okta by 11.0% in the 2nd quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock worth $124,000 after purchasing an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after purchasing an additional 142 shares during the period. CWM LLC grew its holdings in Okta by 5.3% during the second quarter. CWM LLC now owns 2,910 shares of the company’s stock valued at $272,000 after purchasing an additional 147 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its position in shares of Okta by 4.6% in the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock valued at $306,000 after purchasing an additional 182 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Price Performance

OKTA stock opened at $76.83 on Wednesday. The business has a fifty day moving average price of $74.77 and a 200 day moving average price of $85.17. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. Okta, Inc. has a fifty-two week low of $66.69 and a fifty-two week high of $114.50.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.29. The company had revenue of $646.00 million during the quarter, compared to analyst estimates of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. On average, analysts anticipate that Okta, Inc. will post 0.19 earnings per share for the current year.

Insiders Place Their Bets

In other news, CRO Jonathan James Addison sold 9,850 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $764,655.50. Following the completion of the sale, the executive now owns 14,601 shares in the company, valued at $1,133,475.63. The trade was a 40.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Larissa Schwartz sold 2,790 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 27,713 shares in the company, valued at approximately $2,051,039.13. This represents a 9.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 475,789 shares of company stock valued at $35,701,361 in the last 90 days. 7.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Okta from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Susquehanna cut their price objective on Okta from $110.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Jefferies Financial Group decreased their target price on Okta from $100.00 to $85.00 and set a “hold” rating for the company in a research note on Tuesday, September 24th. BMO Capital Markets upped their price target on Okta from $100.00 to $103.00 and gave the stock a “market perform” rating in a report on Thursday, August 29th. Finally, Wells Fargo & Company lowered their price objective on shares of Okta from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Okta has a consensus rating of “Hold” and a consensus price target of $98.30.

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.