CenterBook Partners LP Sells 163,975 Shares of Okta, Inc. (NASDAQ:OKTA)

CenterBook Partners LP trimmed its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 62.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 98,725 shares of the company's stock after selling 163,975 shares during the quarter. CenterBook Partners LP owned approximately 0.06% of Okta worth $7,780,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in Okta during the 4th quarter valued at about $1,686,000. Stifel Financial Corp boosted its position in shares of Okta by 56.1% in the 3rd quarter. Stifel Financial Corp now owns 37,258 shares of the company's stock worth $2,770,000 after purchasing an additional 13,387 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Okta by 1,150.2% in the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company's stock worth $33,146,000 after buying an additional 382,190 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Okta by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company's stock valued at $87,903,000 after buying an additional 46,064 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its stake in Okta by 125.8% during the third quarter. Sanctuary Advisors LLC now owns 11,244 shares of the company's stock valued at $861,000 after buying an additional 6,265 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company's stock.

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Analysts Set New Price Targets

Several brokerages have recently weighed in on OKTA. KeyCorp raised their price target on Okta from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Westpark Capital reaffirmed a "buy" rating and issued a $140.00 target price on shares of Okta in a report on Friday, February 28th. Mizuho upgraded shares of Okta from a "neutral" rating to an "outperform" rating and increased their price target for the company from $110.00 to $127.00 in a report on Tuesday, March 4th. Canaccord Genuity Group boosted their price objective on shares of Okta from $94.00 to $100.00 and gave the stock a "hold" rating in a report on Tuesday, March 4th. Finally, Scotiabank increased their target price on Okta from $94.00 to $109.00 and gave the company a "sector perform" rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $116.09.

Insider Buying and Selling at Okta

In related news, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction dated 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 owns 23,311 shares in the company, valued at approximately $2,088,199.38. This trade represents a 10.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eric Robert Kelleher sold 5,895 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $113.75, for a total value of $670,556.25. Following the completion of the transaction, the insider now directly owns 9,828 shares in the company, valued at approximately $1,117,935. This represents a 37.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 761,197 shares of company stock valued at $70,662,533 over the last ninety days. 7.00% of the stock is currently owned by company insiders.

Okta Price Performance

Shares of OKTA stock traded down $0.51 on Monday, hitting $101.31. 816,341 shares of the stock traded hands, compared to its average volume of 2,530,859. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $118.07. The firm has a 50 day simple moving average of $102.15 and a two-hundred day simple moving average of $87.84. The firm has a market cap of $17.59 billion, a price-to-earnings ratio of -289.46, a PEG ratio of 6.42 and a beta of 1.07.

Okta 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.