KLP Kapitalforvaltning AS bought a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 102,900 shares of the company's stock, valued at approximately $8,109,000. KLP Kapitalforvaltning AS owned approximately 0.06% of Okta as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Empowered Funds LLC increased its position in Okta by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 5,718 shares of the company's stock worth $425,000 after purchasing an additional 295 shares in the last quarter. Caprock Group LLC increased its holdings in shares of Okta by 32.6% during the third quarter. Caprock Group LLC now owns 3,786 shares of the company's stock worth $281,000 after buying an additional 930 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Okta in the 3rd quarter valued at $307,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Okta by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company's stock valued at $79,503,000 after acquiring an additional 17,950 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its position in Okta by 21.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 20,784 shares of the company's stock worth $1,595,000 after acquiring an additional 3,685 shares during the last quarter. Institutional investors own 86.64% of the company's stock.
Okta Stock Down 2.9 %
OKTA stock traded down $3.21 during mid-day trading on Friday, reaching $107.99. 2,872,591 shares of the company traded hands, compared to its average volume of 2,434,121. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm's 50 day moving average price is $100.33 and its 200 day moving average price is $85.68. The stock has a market cap of $18.75 billion, a price-to-earnings ratio of -308.54, 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 $118.07.
Analysts Set New Price Targets
Several research firms have recently issued reports on OKTA. Piper Sandler upped their price objective on Okta from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. Westpark Capital reaffirmed a "buy" rating and set a $140.00 target price on shares of Okta in a report on Friday, February 28th. Royal Bank of Canada raised their price objective on Okta from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. upped their target price on Okta from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Finally, KeyCorp raised their price target on shares of Okta from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Okta presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.29.
Check Out Our Latest Stock Analysis on Okta
Insider Activity
In related news, insider Larissa Schwartz sold 11,552 shares of the firm's stock in a transaction dated 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 transaction, the insider now directly owns 22,125 shares of the company's stock, valued at $2,524,241.25. This trade represents a 34.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the business's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $87.09, for a total transaction of $33,965,100.00. The disclosure for this sale can be found here. Insiders have sold 763,901 shares of company stock worth $70,880,205 over the last 90 days. 7.00% of the stock is currently owned by corporate insiders.
About Okta
(
Free Report)
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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