Nomura Asset Management Co. Ltd. Sells 27,065 Shares of Okta, Inc. (NASDAQ:OKTA)

Nomura Asset Management Co. Ltd. trimmed its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 20.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,544 shares of the company's stock after selling 27,065 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.06% of Okta worth $8,553,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Okta in the 4th quarter worth approximately $234,992,000. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in shares of Okta by 5.7% in the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 65,931 shares of the company's stock worth $5,195,000 after purchasing an additional 3,558 shares during the period. WINTON GROUP Ltd bought a new position in shares of Okta in the fourth quarter worth about $2,244,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Okta by 12.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 120,834 shares of the company's stock valued at $9,759,000 after purchasing an additional 13,279 shares in the last quarter. Finally, Korea Investment CORP boosted its holdings in Okta by 2.5% in the 4th quarter. Korea Investment CORP now owns 160,216 shares of the company's stock worth $12,625,000 after buying an additional 3,917 shares during the period. Hedge funds and other institutional investors own 86.64% of the company's stock.

Okta Trading Down 9.6 %

Shares of OKTA stock traded down $9.64 during trading hours on Friday, reaching $90.63. The company had a trading volume of 4,949,955 shares, compared to its average volume of 2,459,460. The company has a 50 day moving average of $101.58 and a 200 day moving average of $86.54. 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 $15.73 billion, a price-to-earnings ratio of -259.79, a P/E/G ratio of 6.42 and a beta of 1.06. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

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Analyst Upgrades and Downgrades

A number of research firms have recently commented on OKTA. Scotiabank increased their target price on Okta from $94.00 to $109.00 and gave the company a "sector perform" rating in a research report on Tuesday, March 4th. Oppenheimer lifted their target price on Okta from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Canaccord Genuity Group boosted their price objective on shares of Okta from $94.00 to $100.00 and gave the stock a "hold" rating in a research note on Tuesday, March 4th. Robert W. Baird increased their price target on shares of Okta from $115.00 to $130.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Finally, BMO Capital Markets raised their price target on Okta from $105.00 to $130.00 and gave the stock a "market perform" rating in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $116.09.

Insider Buying and Selling

In related news, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $89.58, for a total transaction of $242,224.32. Following the sale, the insider now owns 23,311 shares of the company's stock, valued at $2,088,199.38. This represents a 10.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jacques Frederic Kerrest sold 3,306 shares of the business'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 transaction of $293,738.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 761,197 shares of company stock worth $70,662,533. 7.00% of the stock is owned by corporate insiders.

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.