Okta, Inc. (NASDAQ:OKTA) Shares Sold by Jackson Square Partners LLC

Jackson Square Partners LLC reduced its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 16.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 262,198 shares of the company's stock after selling 52,775 shares during the quarter. Okta comprises approximately 2.2% of Jackson Square Partners LLC's investment portfolio, making the stock its 21st biggest holding. Jackson Square Partners LLC owned about 0.15% of Okta worth $20,661,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in OKTA. Point72 Asset Management L.P. purchased a new position in Okta during the 3rd quarter worth $49,373,000. Nordea Investment Management AB grew its stake in shares of Okta by 1,150.2% during the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company's stock worth $33,146,000 after acquiring an additional 382,190 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Okta by 138.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company's stock worth $43,721,000 after acquiring an additional 322,201 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Okta by 58.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 568,797 shares of the company's stock valued at $44,821,000 after acquiring an additional 210,615 shares in the last quarter. Finally, Tredje AP fonden raised its position in shares of Okta by 757.5% in the 4th quarter. Tredje AP fonden now owns 226,295 shares of the company's stock valued at $17,832,000 after purchasing an additional 199,906 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

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Okta Trading Down 2.9 %

OKTA traded down $3.21 on Friday, hitting $107.99. The company had a trading volume of 2,872,591 shares, compared to its average volume of 2,434,121. The company's fifty day moving average price is $100.33 and its 200 day moving average price is $85.78. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $118.07. The firm has a market cap of $18.75 billion, a P/E ratio of -308.54, a PEG ratio of 6.42 and a beta of 1.09.

Insider Activity at Okta

In other news, CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total value of $445,000.00. Following the completion of the transaction, the chief financial officer now owns 112,533 shares in the company, valued at approximately $10,015,437. This trade represents a 4.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Larissa Schwartz sold 11,552 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the sale, the insider now owns 22,125 shares in the company, valued at $2,524,241.25. The trade was a 34.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 763,901 shares of company stock worth $70,880,205. Insiders own 7.00% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on OKTA shares. JMP Securities restated a "market perform" rating on shares of Okta in a research note on Wednesday, December 4th. Jefferies Financial Group boosted 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. Sanford C. Bernstein reduced their target price on Okta from $129.00 to $124.00 and set an "outperform" rating for the company in a research note on Tuesday, December 17th. Canaccord Genuity Group boosted their price target on Okta from $94.00 to $100.00 and gave the company a "hold" rating in a research note on Tuesday, March 4th. Finally, Guggenheim reissued a "buy" rating and issued a $130.00 price objective on shares of Okta in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $115.29.

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.