Envestnet Asset Management Inc. Has $4.49 Million Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Envestnet Asset Management Inc. decreased its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 36.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 57,028 shares of the company's stock after selling 32,761 shares during the period. Envestnet Asset Management Inc.'s holdings in Okta were worth $4,494,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Okta

In related news, insider Larissa Schwartz sold 2,740 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total value of $267,396.60. Following the completion of the sale, the insider now directly owns 22,125 shares of the company's stock, valued at $2,159,178.75. The trade was a 11.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brett Tighe sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $87.29, for a total value of $436,450.00. Following the completion of the transaction, the chief financial officer now owns 107,533 shares in the company, valued at approximately $9,386,555.57. The trade was a 4.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 757,192 shares of company stock valued at $70,390,406. Corporate insiders own 7.00% of the company's stock.

Okta Stock Up 2.0 %

Okta stock opened at $94.33 on Wednesday. The company has a market capitalization of $16.38 billion, a PE ratio of -269.51, a PEG ratio of 6.42 and a beta of 1.07. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $118.07. The firm's fifty day moving average is $102.14 and its 200 day moving average is $88.94. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Analyst Upgrades and Downgrades

OKTA has been the subject of several research analyst reports. Susquehanna upped their price target on shares of Okta from $95.00 to $105.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Robert W. Baird upped their target price on Okta from $115.00 to $130.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. Morgan Stanley dropped their target price on Okta from $125.00 to $123.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. UBS Group set a $135.00 price target on Okta in a report on Tuesday, March 4th. Finally, Jefferies Financial Group raised their price objective on shares of Okta from $90.00 to $110.00 and gave the company a "hold" rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $116.03.

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.

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