Nomura Asset Management Co. Ltd. Sells 18,061 Shares of Okta, Inc. (NASDAQ:OKTA)

Nomura Asset Management Co. Ltd. reduced its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 11.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 135,609 shares of the company's stock after selling 18,061 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.08% of Okta worth $10,081,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OKTA. Itau Unibanco Holding S.A. acquired a new stake in shares of Okta in the third quarter valued at about $25,000. Future Financial Wealth Managment LLC acquired a new position in shares of Okta during the 3rd quarter worth approximately $26,000. Blue Trust Inc. raised its stake in shares of Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company's stock worth $28,000 after purchasing an additional 191 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Okta in the 3rd quarter valued at approximately $32,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of Okta in the 2nd quarter valued at approximately $47,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Todd Mckinnon sold 224,533 shares of the business's stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $74.62, for a total value of $16,754,652.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Jonathan James Addison sold 9,850 shares of the company's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $764,655.50. Following the sale, the executive now directly owns 14,601 shares of the company's stock, valued at approximately $1,133,475.63. This trade represents a 40.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 607,215 shares of company stock valued at $46,304,810 over the last quarter. 7.00% of the stock is owned by company insiders.

Okta Price Performance

Shares of OKTA traded down $1.09 during trading hours on Thursday, hitting $83.91. 2,610,065 shares of the company were exchanged, compared to its average volume of 2,140,284. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $114.50. The company has a market cap of $14.25 billion, a price-to-earnings ratio of -242.86, a P/E/G ratio of 8.91 and a beta of 1.00. The firm's fifty day moving average is $76.41 and its 200 day moving average is $83.72.

Analysts Set New Price Targets

OKTA has been the topic of several analyst reports. Truist Financial reaffirmed a "hold" rating and set a $92.00 price target (up from $80.00) on shares of Okta in a research report on Wednesday, December 4th. Guggenheim reaffirmed a "buy" rating and issued a $130.00 target price on shares of Okta in a report on Wednesday, December 4th. Canaccord Genuity Group raised their target price on shares of Okta from $82.00 to $94.00 and gave the company a "hold" rating in a research note on Wednesday, December 4th. Sanford C. Bernstein raised Okta from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $123.00 to $129.00 in a research report on Thursday, December 5th. Finally, Wells Fargo & Company upped their price objective on Okta from $80.00 to $95.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Okta has a consensus rating of "Hold" and a consensus target price of $103.77.

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.