abrdn plc Sells 18,486 Shares of Okta, Inc. (NASDAQ:OKTA)

abrdn plc lessened its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 28.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 46,447 shares of the company's stock after selling 18,486 shares during the quarter. abrdn plc's holdings in Okta were worth $3,660,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of OKTA. Sanctuary Advisors LLC bought a new stake in Okta during the 2nd quarter worth $460,000. Atomi Financial Group Inc. boosted its position in Okta by 24.9% during the 3rd quarter. Atomi Financial Group Inc. now owns 2,747 shares of the company's stock worth $204,000 after buying an additional 547 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Okta by 333.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,300 shares of the company's stock worth $97,000 after acquiring an additional 1,000 shares during the last quarter. CHICAGO TRUST Co NA increased its position in Okta by 8.2% in the 3rd quarter. CHICAGO TRUST Co NA now owns 2,929 shares of the company's stock valued at $218,000 after acquiring an additional 221 shares during the period. Finally, ORG Partners LLC raised its stake in shares of Okta by 8.0% during the third quarter. ORG Partners LLC now owns 5,679 shares of the company's stock valued at $422,000 after acquiring an additional 419 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Jacques Frederic Kerrest sold 390,000 shares of the business's stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total transaction of $33,965,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Larissa Schwartz sold 2,740 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total transaction of $267,396.60. Following the completion of the sale, the insider now owns 22,125 shares in the company, valued at $2,159,178.75. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 980,908 shares of company stock valued at $85,025,665 in the last three months. Company insiders own 7.00% of the company's stock.

Analysts Set New Price Targets

OKTA has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on Okta from $105.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, December 17th. Jefferies Financial Group decreased their price target on Okta from $100.00 to $90.00 and set a "hold" rating for the company in a research note on Thursday, December 19th. Westpark Capital restated a "buy" rating and set a $140.00 price objective on shares of Okta in a research report on Wednesday, December 4th. Barclays upped their target price on Okta from $81.00 to $96.00 and gave the company an "equal weight" rating in a report on Wednesday, December 4th. Finally, JMP Securities restated a "market perform" rating on shares of Okta in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $105.45.

Okta Stock Performance

OKTA traded up $2.00 during trading on Thursday, hitting $100.26. 2,762,612 shares of the company traded hands, compared to its average volume of 2,478,835. The firm has a market cap of $17.18 billion, a P/E ratio of -286.46, a price-to-earnings-growth ratio of 6.58 and a beta of 1.03. 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 one year low of $70.56 and a one year high of $114.50. The stock's fifty day moving average is $87.19 and its 200 day moving average is $82.31.

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.