Neuberger Berman Group LLC trimmed its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 22.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 674,059 shares of the company's stock after selling 194,177 shares during the period. Neuberger Berman Group LLC owned approximately 0.39% of Okta worth $53,116,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Okta during the fourth quarter valued at $1,686,000. Stifel Financial Corp boosted its holdings in shares of Okta by 56.1% during the 3rd quarter. Stifel Financial Corp now owns 37,258 shares of the company's stock valued at $2,770,000 after acquiring an additional 13,387 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Okta by 1,150.2% during the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company's stock valued at $33,146,000 after acquiring an additional 382,190 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Okta by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company's stock worth $87,903,000 after acquiring an additional 46,064 shares during the period. Finally, Sanctuary Advisors LLC raised its holdings in shares of Okta by 125.8% during the third quarter. Sanctuary Advisors LLC now owns 11,244 shares of the company's stock valued at $861,000 after purchasing an additional 6,265 shares during the last quarter. Institutional investors own 86.64% of the company's stock.
Okta Price Performance
OKTA stock traded down $0.29 during trading on Tuesday, hitting $100.59. 973,327 shares of the company's stock traded hands, compared to its average volume of 2,530,394. The business has a fifty day simple moving average of $102.22 and a 200 day simple moving average of $88.03. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $118.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $17.46 billion, a price-to-earnings ratio of -287.40, a P/E/G ratio of 6.42 and a beta of 1.07.
Analysts Set New Price Targets
A number of research firms have commented on OKTA. Truist Financial lifted their target price on shares of Okta from $92.00 to $100.00 and gave the stock a "hold" rating in a research report on Tuesday, March 4th. Morgan Stanley set a $125.00 target price on Okta in a report on Tuesday, March 18th. Mizuho upgraded shares of Okta from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $110.00 to $127.00 in a research note on Tuesday, March 4th. Barclays boosted their target price on shares of Okta from $105.00 to $115.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Finally, BMO Capital Markets increased their price target on shares of Okta from $105.00 to $130.00 and gave the stock a "market perform" rating in a research report on Monday, March 10th. 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $116.09.
Check Out Our Latest Stock Report on Okta
Insider Buying and Selling
In other news, Director Jacques Frederic Kerrest sold 390,000 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $87.09, for a total value of $33,965,100.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Larissa Schwartz sold 11,552 shares of the business's 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 transaction, the insider now owns 22,125 shares of the company's stock, valued at approximately $2,524,241.25. The trade was a 34.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 761,197 shares of company stock worth $70,662,533. Corporate insiders own 7.00% of the company's stock.
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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