Aviva PLC Trims Position in Okta, Inc. (NASDAQ:OKTA)

Aviva PLC cut its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 18.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 97,897 shares of the company's stock after selling 22,874 shares during the quarter. Aviva PLC owned 0.06% of Okta worth $7,714,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Okta in the 4th quarter worth about $234,992,000. Geode Capital Management LLC lifted its holdings in Okta by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company's stock worth $212,385,000 after acquiring an additional 135,110 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Okta by 54.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,241,220 shares of the company's stock valued at $97,808,000 after acquiring an additional 440,171 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Okta by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company's stock valued at $87,903,000 after purchasing an additional 46,064 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Okta by 570.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 869,362 shares of the company's stock worth $68,506,000 after purchasing an additional 739,707 shares during the period. Institutional investors and hedge funds own 86.64% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Okta from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Stifel Nicolaus upped their price target on shares of Okta from $115.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. KeyCorp lifted their price objective on shares of Okta from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Morgan Stanley set a $125.00 target price on shares of Okta in a research report on Tuesday, March 18th. Finally, The Goldman Sachs Group raised their price target on shares of Okta from $107.00 to $123.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $116.09.

Okta Trading Up 1.7 %

NASDAQ:OKTA traded up $1.74 on Monday, reaching $103.56. 303,633 shares of the stock traded hands, compared to its average volume of 2,529,056. The firm has a market capitalization of $17.98 billion, a price-to-earnings ratio of -295.89, a price-to-earnings-growth ratio of 6.42 and a beta of 1.07. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $118.07. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The company's 50 day moving average is $102.15 and its 200-day moving average is $87.84.

Insiders Place Their Bets

In other Okta news, Director Jacques Frederic Kerrest sold 3,306 shares of Okta stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $88.85, for a total transaction of $293,738.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Larissa Schwartz sold 11,552 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total value of $1,317,967.68. Following the transaction, the insider now owns 22,125 shares in the company, valued at approximately $2,524,241.25. This trade represents a 34.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 761,197 shares of company stock worth $70,662,533. Corporate insiders own 7.00% of the company's stock.

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.