Champlain Investment Partners LLC Sells 525,440 Shares of Okta, Inc. (NASDAQ:OKTA)

Champlain Investment Partners LLC trimmed its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 13.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,253,267 shares of the company's stock after selling 525,440 shares during the period. Okta makes up 1.6% of Champlain Investment Partners LLC's investment portfolio, making the stock its 10th largest holding. Champlain Investment Partners LLC owned 1.90% of Okta worth $256,357,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in OKTA. Norges Bank bought a new position in shares of Okta during the fourth quarter worth $234,992,000. Marshall Wace LLP lifted its holdings in shares of Okta by 35.5% in the 4th quarter. Marshall Wace LLP now owns 3,583,937 shares of the company's stock worth $282,414,000 after acquiring an additional 938,509 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Okta by 570.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 869,362 shares of the company's stock worth $68,506,000 after acquiring an additional 739,707 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Okta by 54.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,241,220 shares of the company's stock worth $97,808,000 after purchasing an additional 440,171 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in Okta by 1,150.2% in the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company's stock worth $33,146,000 after purchasing an additional 382,190 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company's stock.

Okta Trading Up 2.6 %

NASDAQ:OKTA traded up $2.39 during trading hours on Tuesday, reaching $94.85. 512,315 shares of the stock were exchanged, compared to its average volume of 2,550,969. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $118.07. 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 business has a 50-day moving average of $102.26 and a two-hundred day moving average of $88.90. The company has a market capitalization of $16.47 billion, a price-to-earnings ratio of -271.47, a PEG ratio of 6.42 and a beta of 1.07.

Analyst Upgrades and Downgrades

OKTA has been the subject of several research reports. KeyCorp upped their price target on shares of Okta from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. Oppenheimer boosted their price objective on shares of Okta from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Needham & Company LLC reaffirmed a "buy" rating and issued a $115.00 price objective on shares of Okta in a report on Tuesday, March 4th. DA Davidson upgraded Okta from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $90.00 to $125.00 in a research report on Tuesday, March 4th. Finally, UBS Group set a $135.00 target price on Okta in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Okta presently has a consensus rating of "Moderate Buy" and an average price target of $116.03.

Insider Activity at Okta

In related news, insider Larissa Schwartz sold 11,552 shares of the company's stock in a transaction that occurred 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 sale, the insider now directly owns 22,125 shares in the company, valued at approximately $2,524,241.25. This represents a 34.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jacques Frederic Kerrest sold 390,000 shares of Okta stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $87.09, for a total transaction of $33,965,100.00. The disclosure for this sale can be found here. Insiders sold 759,896 shares of company stock worth $70,632,631 in the last three months. 7.00% of the stock is owned by company 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.