Handelsbanken Fonder AB Sells 11,895 Shares of Okta, Inc. (NASDAQ:OKTA)

Handelsbanken Fonder AB lowered its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 22.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,500 shares of the company's stock after selling 11,895 shares during the period. Handelsbanken Fonder AB's holdings in Okta were worth $3,191,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Itau Unibanco Holding S.A. acquired a new position in Okta during the third quarter worth $25,000. Bank of Jackson Hole Trust bought a new stake in shares of Okta during the fourth quarter worth about $25,000. Blue Trust Inc. increased its position in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company's stock worth $28,000 after acquiring an additional 191 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Okta in the 3rd quarter worth about $32,000. Finally, Modus Advisors LLC bought a new position in Okta in the 4th quarter valued at about $44,000. Institutional investors own 86.64% of the company's stock.

Okta Stock Performance

OKTA stock traded down $1.54 during midday trading on Tuesday, reaching $89.34. 2,022,915 shares of the company's stock traded hands, compared to its average volume of 2,442,247. The company has a 50-day moving average price of $88.77 and a two-hundred day moving average price of $82.53. The firm has a market capitalization of $15.31 billion, a PE ratio of -255.26, a price-to-earnings-growth ratio of 6.42 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $114.50.

Insider Buying and Selling at Okta

In related news, insider Larissa Schwartz sold 2,740 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total value of $267,396.60. Following the sale, the insider now owns 22,125 shares in the company, valued at approximately $2,159,178.75. This trade represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jacques Frederic Kerrest sold 131,426 shares of Okta stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $80.68, for a total value of $10,603,449.68. Following the sale, the director now owns 1,622 shares of the company's stock, valued at approximately $130,862.96. This trade represents a 98.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 980,908 shares of company stock valued at $85,025,665 in the last quarter. 7.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on the company. Jefferies Financial Group decreased their price objective on Okta from $100.00 to $90.00 and set a "hold" rating for the company in a report on Thursday, December 19th. Wells Fargo & Company upped their price target on Okta from $80.00 to $95.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Canaccord Genuity Group increased their price target on Okta from $82.00 to $94.00 and gave the company a "hold" rating in a research report on Wednesday, December 4th. Susquehanna lifted their price objective on shares of Okta from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, December 4th. Finally, UBS Group increased their target price on shares of Okta from $108.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $106.13.

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.