Okta, Inc. (NASDAQ:OKTA) Shares Sold by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC decreased its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 47.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,841 shares of the company's stock after selling 2,517 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in Okta were worth $224,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Okta in the fourth quarter valued at approximately $234,992,000. Arrowstreet Capital Limited Partnership lifted its holdings in Okta by 54.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,241,220 shares of the company's stock valued at $97,808,000 after acquiring an additional 440,171 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Okta by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company's stock worth $87,903,000 after purchasing an additional 46,064 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Okta by 58.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 568,797 shares of the company's stock worth $44,821,000 after purchasing an additional 210,615 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Okta by 138.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company's stock valued at $43,721,000 after purchasing an additional 322,201 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 11,552 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the sale, the insider now directly owns 22,125 shares of the company's stock, valued at approximately $2,524,241.25. This trade represents a 34.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Jonathan James Addison sold 7,005 shares of the business's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $101.19, for a total transaction of $708,835.95. Following the completion of the transaction, the executive now owns 19,067 shares in the company, valued at $1,929,389.73. This represents a 26.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 768,202 shares of company stock valued at $71,371,369. Corporate insiders own 7.00% of the company's stock.

Okta Stock Down 2.0 %

Shares of NASDAQ:OKTA traded down $2.04 during mid-day trading on Friday, hitting $97.93. 1,898,455 shares of the company traded hands, compared to its average volume of 2,554,358. The firm's 50 day simple moving average is $102.38 and its 200 day simple moving average is $88.53. The firm has a market cap of $17.00 billion, a P/E ratio of -279.80, a PEG ratio of 6.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $118.07.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on OKTA shares. Robert W. Baird lifted 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. Jefferies Financial Group boosted their target price on Okta from $90.00 to $110.00 and gave the stock a "hold" rating in a research report on Tuesday, March 4th. Citigroup lifted their price target on Okta from $100.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Needham & Company LLC reissued a "buy" rating and issued a $115.00 price objective on shares of Okta in a research note on Tuesday, March 4th. Finally, BMO Capital Markets upped their price target on shares of Okta from $105.00 to $130.00 and gave the company a "market perform" rating in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $116.03.

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.