Citizens Financial Group Inc. RI Decreases Stock Position in Okta, Inc. (NASDAQ:OKTA)

Citizens Financial Group Inc. RI lowered its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 15.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,618 shares of the company's stock after selling 2,719 shares during the period. Citizens Financial Group Inc. RI's holdings in Okta were worth $1,152,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in OKTA. Stephens Inc. AR grew its holdings in Okta by 5.0% during the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company's stock worth $260,000 after acquiring an additional 157 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings 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 valued at $605,000 after purchasing an additional 180 shares in the last quarter. CHICAGO TRUST Co NA lifted its stake in shares of Okta by 6.5% in the 4th 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 during the period. Principal Securities Inc. boosted its holdings in Okta by 13.8% during the fourth quarter. Principal Securities Inc. now owns 1,686 shares of the company's stock worth $133,000 after buying an additional 204 shares in the last quarter. Finally, Metis Global Partners LLC grew its position in Okta by 6.4% during the fourth quarter. Metis Global Partners LLC now owns 3,386 shares of the company's stock valued at $267,000 after buying an additional 205 shares during the period. Institutional investors and hedge funds own 86.64% of the company's stock.

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Okta Trading Down 2.0 %

OKTA traded down $2.15 during trading hours on Thursday, reaching $106.63. The company's stock had a trading volume of 3,481,315 shares, compared to its average volume of 3,252,940. The business's 50-day moving average is $93.39 and its 200-day moving average is $83.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market cap of $18.27 billion, a PE ratio of -304.66, a P/E/G ratio of 6.42 and a beta of 1.09. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $116.96.

Analyst Ratings Changes

Several research firms have recently issued reports on OKTA. Morgan Stanley raised shares of Okta from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $92.00 to $97.00 in a research note on Monday, December 2nd. Jefferies Financial Group increased their price target on Okta from $90.00 to $110.00 and gave the stock a "hold" rating in a research report on Tuesday, March 4th. DA Davidson upgraded Okta from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $90.00 to $125.00 in a research report on Tuesday, March 4th. Sanford C. Bernstein decreased their target price on Okta from $129.00 to $124.00 and set an "outperform" rating on the stock in a research report on Tuesday, December 17th. Finally, Mizuho raised shares of Okta from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $110.00 to $127.00 in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $114.39.

Insider Activity

In related news, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $80.50, for a total value of $217,672.00. Following the completion of the sale, the insider now owns 24,462 shares in the company, valued at approximately $1,969,191. This trade represents a 9.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Todd Mckinnon sold 233,028 shares of the company's stock in a transaction on 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. Insiders have sold a total of 979,482 shares of company stock valued at $88,072,216 in the last quarter. Insiders own 7.00% of the company's stock.

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.