Mitsubishi UFJ Asset Management Co. Ltd. Has $9.76 Million Position in Okta, Inc. (NASDAQ:OKTA)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,834 shares of the company's stock after buying an additional 13,279 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.07% of Okta worth $9,759,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of OKTA. Itau Unibanco Holding S.A. acquired a new stake in shares of Okta during the third quarter worth $25,000. Bank of Jackson Hole Trust bought a new position in Okta during the fourth quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Okta during the 3rd quarter worth about $32,000. TD Private Client Wealth LLC increased its stake in shares of Okta by 3,507.7% in the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock valued at $37,000 after acquiring an additional 456 shares during the last quarter. Finally, Modus Advisors LLC acquired a new stake in shares of Okta in the 4th quarter valued at approximately $44,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Okta

In other Okta news, CFO Brett Tighe sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total transaction of $445,000.00. Following the completion of the sale, the chief financial officer now directly owns 112,533 shares in the company, valued at $10,015,437. This trade represents a 4.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jacques Frederic Kerrest sold 3,306 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total value of $293,738.10. The disclosure for this sale can be found here. Insiders sold 761,197 shares of company stock valued at $70,662,533 in the last quarter. 7.00% of the stock is currently owned by insiders.

Okta Stock Performance

Shares of NASDAQ OKTA traded down $8.34 during midday trading on Friday, hitting $91.93. 7,543,540 shares of the company's stock were exchanged, compared to its average volume of 2,476,128. 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 has a market capitalization of $15.96 billion, a PE ratio of -262.66, a price-to-earnings-growth ratio of 6.42 and a beta of 1.06. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $118.07. The company's 50 day moving average price is $101.64 and its 200 day moving average price is $86.75.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Mizuho raised shares of Okta from a "neutral" rating to an "outperform" rating and upped their target price for the company from $110.00 to $127.00 in a research note on Tuesday, March 4th. Morgan Stanley set a $125.00 target price on Okta in a report on Tuesday, March 18th. Sanford C. Bernstein lowered their price target on Okta from $129.00 to $124.00 and set an "outperform" rating for the company in a report on Tuesday, December 17th. Robert W. Baird lifted their price objective on Okta from $115.00 to $130.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Finally, Citigroup increased their target price on Okta from $100.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $116.09.

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.