Okta, Inc. (NASDAQ:OKTA) Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S reduced its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 41.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,396 shares of the company's stock after selling 8,213 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Okta were worth $898,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Frank Rimerman Advisors LLC grew its stake in shares of Okta by 2.4% during the fourth quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company's stock worth $352,000 after purchasing an additional 105 shares in the last quarter. Stephens Inc. AR increased its holdings in shares of Okta by 5.0% in the 4th quarter. Stephens Inc. AR now owns 3,296 shares of the company's stock valued at $260,000 after acquiring an additional 157 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Okta by 2.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company's stock worth $605,000 after acquiring an additional 180 shares in the last quarter. Great Lakes Advisors LLC lifted its stake in Okta by 2.7% during the fourth quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company's stock worth $557,000 after purchasing an additional 184 shares during the last quarter. Finally, CHICAGO TRUST Co NA boosted its holdings in Okta by 6.5% in the fourth quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company's stock valued at $246,000 after purchasing an additional 191 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Stock Up 1.5 %

NASDAQ:OKTA traded up $1.53 during mid-day trading on Monday, hitting $104.91. The company had a trading volume of 1,333,821 shares, compared to its average volume of 2,574,925. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $118.07. The business has a fifty day simple moving average of $102.42 and a 200-day simple moving average of $89.58. 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 firm has a market capitalization of $18.21 billion, a price-to-earnings ratio of -299.58, a PEG ratio of 6.42 and a beta of 1.07.

Insider Buying and Selling at Okta

In related news, Director Jacques Frederic Kerrest sold 130,000 shares of Okta stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $93.00, for a total value of $12,090,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Larissa Schwartz sold 2,740 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 22,125 shares of the company's stock, valued at approximately $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 362,192 shares of company stock valued at $35,988,856 over the last 90 days. 7.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on OKTA. Wells Fargo & Company boosted their price objective on shares of Okta from $95.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Canaccord Genuity Group raised their price objective on Okta from $94.00 to $100.00 and gave the stock a "hold" rating in a report on Tuesday, March 4th. Westpark Capital reissued a "buy" rating and issued a $140.00 target price on shares of Okta in a report on Friday, February 28th. BTIG Research reissued a "buy" rating on shares of Okta in a research report on Tuesday, March 4th. Finally, Truist Financial boosted their price objective on Okta from $92.00 to $100.00 and gave the company a "hold" rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Okta currently has a consensus rating of "Moderate Buy" and an average target price of $116.12.

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.