Legal & General Group Plc lowered its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 35.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 859,613 shares of the company's stock after selling 463,726 shares during the quarter. Legal & General Group Plc owned approximately 0.50% of Okta worth $67,738,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the stock. Bank of Jackson Hole Trust acquired a new position in shares of Okta during the fourth quarter worth $25,000. TD Private Client Wealth LLC grew its holdings in shares of Okta by 3,507.7% during the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock worth $37,000 after purchasing an additional 456 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of Okta in the fourth quarter valued at approximately $43,000. Modus Advisors LLC bought a new position in Okta in the 4th quarter valued at approximately $44,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in Okta during the 4th quarter worth approximately $44,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Okta
In other Okta news, insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the company's stock in a transaction dated Thursday, January 23rd. The shares were 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. Over the last ninety days, insiders sold 768,202 shares of company stock valued at $71,371,369. 7.00% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several research analysts recently issued reports on OKTA shares. Citigroup raised their target price on Okta from $100.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Morgan Stanley set a $125.00 price target on shares of Okta in a report on Tuesday, March 18th. Jefferies Financial Group lifted their target price on shares of Okta from $90.00 to $110.00 and gave the stock a "hold" rating in a research note on Tuesday, March 4th. KeyCorp upped their target price on Okta from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Finally, Mizuho raised shares of Okta from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $110.00 to $127.00 in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $116.09.
Check Out Our Latest Stock Report on Okta
Okta Price Performance
NASDAQ:OKTA traded down $0.67 during trading hours on Tuesday, reaching $100.21. The stock had a trading volume of 2,319,032 shares, compared to its average volume of 2,535,503. The stock has a market capitalization of $17.40 billion, a PE ratio of -286.31, a PEG ratio of 6.42 and a beta of 1.07. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $118.07. The company has a 50 day moving average price of $102.22 and a two-hundred day moving average price of $88.03. 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 Company Profile
(
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.
Recommended Stories
Before you consider Okta, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Okta wasn't on the list.
While Okta currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
