Asset Management One Co. Ltd. reduced its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 133,220 shares of the company's stock after selling 11,162 shares during the quarter. Asset Management One Co. Ltd. owned about 0.08% of Okta worth $10,876,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in Okta by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company's stock valued at $79,503,000 after purchasing an additional 17,950 shares during the last quarter. Penserra Capital Management LLC raised its stake in Okta by 9.8% in the 3rd quarter. Penserra Capital Management LLC now owns 767,962 shares of the company's stock valued at $57,089,000 after purchasing an additional 68,757 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Okta in the 3rd quarter valued at $49,373,000. Allspring Global Investments Holdings LLC raised its stake in Okta by 138.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company's stock valued at $43,721,000 after purchasing an additional 322,201 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its stake in Okta by 17.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 510,658 shares of the company's stock valued at $37,962,000 after purchasing an additional 76,588 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.
Okta Stock Down 0.1 %
Shares of OKTA traded down $0.06 during midday trading on Wednesday, hitting $96.98. The company had a trading volume of 1,535,804 shares, compared to its average volume of 2,466,376. The company's 50-day simple moving average is $88.20 and its 200-day simple moving average is $82.38. 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 firm has a market capitalization of $16.62 billion, a P/E ratio of -277.09, a P/E/G ratio of 6.49 and a beta of 1.03. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $114.50.
Insider Activity
In other news, 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 sale, the chief financial officer now owns 112,533 shares of the company's stock, valued at approximately $10,015,437. This trade represents a 4.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Mckinnon sold 233,028 shares of the firm's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 980,908 shares of company stock worth $85,025,665. 7.00% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several research firms recently commented on OKTA. JPMorgan Chase & Co. raised Okta from a "neutral" rating to an "overweight" rating and set a $100.00 price objective for the company in a research note on Monday, December 16th. Truist Financial reaffirmed a "hold" rating and issued a $92.00 target price (up from $80.00) on shares of Okta in a research note on Wednesday, December 4th. Robert W. Baird raised their target price on Okta from $105.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 17th. Westpark Capital reaffirmed a "buy" rating and issued a $140.00 target price on shares of Okta in a research note on Wednesday, December 4th. Finally, Sanford C. Bernstein cut their target price 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 investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $105.45.
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.
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