APG Asset Management US Inc. purchased a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,113 shares of the company's stock, valued at approximately $403,000.
Other large investors also recently made changes to their positions in the company. APG Asset Management N.V. raised its position in Okta by 1,266.3% in the 4th quarter. APG Asset Management N.V. now owns 96,406 shares of the company's stock valued at $7,336,000 after buying an additional 89,350 shares during the last quarter. Sellaronda Global Management LP bought a new stake in shares of Okta in the fourth quarter worth $8,668,000. Sumitomo Mitsui Financial Group Inc. boosted its holdings in Okta by 12,051.3% during the fourth quarter. Sumitomo Mitsui Financial Group Inc. now owns 4,739 shares of the company's stock worth $387,000 after purchasing an additional 4,700 shares during the last quarter. Cerity Partners LLC boosted its holdings in Okta by 22.6% during the fourth quarter. Cerity Partners LLC now owns 66,734 shares of the company's stock worth $5,250,000 after purchasing an additional 12,322 shares during the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co grew its position in Okta by 50.0% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 75,000 shares of the company's stock valued at $5,910,000 after purchasing an additional 25,000 shares in the last quarter. Institutional investors own 86.64% of the company's stock.
Insiders Place Their Bets
In other Okta news, insider Larissa Schwartz sold 2,704 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $89.58, for a total transaction of $242,224.32. Following the completion of the sale, the insider now directly owns 23,311 shares of the company's stock, valued at approximately $2,088,199.38. The trade was a 10.39 % 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 that occurred on Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total value of $445,000.00. Following the completion of the transaction, the chief financial officer now owns 112,533 shares in the company, valued at $10,015,437. This represents a 4.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 761,197 shares of company stock worth $70,662,533. Company insiders own 7.00% of the company's stock.
Okta Trading Up 0.3 %
Shares of Okta stock traded up $0.30 during midday trading on Tuesday, reaching $101.18. The company had a trading volume of 877,352 shares, compared to its average volume of 2,529,926. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $118.07. The stock has a fifty day moving average price of $102.22 and a 200 day moving average price of $88.03. The firm has a market cap of $17.57 billion, a PE ratio of -289.09, a P/E/G ratio of 6.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.
Analyst Ratings Changes
Several equities analysts have recently weighed in on OKTA shares. Citigroup raised their price objective on Okta from $100.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. Morgan Stanley set a $125.00 price target on Okta in a research report on Tuesday, March 18th. Mizuho upgraded Okta from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $110.00 to $127.00 in a research note on Tuesday, March 4th. JPMorgan Chase & Co. raised their target price on shares of Okta from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Finally, Royal Bank of Canada upped their price target on shares of Okta from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.09.
Check Out Our Latest Research Report on OKTA
Okta Profile
(
Free Report)
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.
Further Reading
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