Okta, Inc. (NASDAQ:OKTA) Shares Acquired by APG Asset Management N.V.

APG Asset Management N.V. increased its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 1,266.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,406 shares of the company's stock after buying an additional 89,350 shares during the period. APG Asset Management N.V. owned about 0.06% of Okta worth $7,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OKTA. Frank Rimerman Advisors LLC grew its position in shares of Okta by 2.4% in the fourth quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company's stock valued at $352,000 after purchasing an additional 105 shares in the last quarter. Stephens Inc. AR raised its position in Okta by 5.0% in the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company's stock valued at $260,000 after purchasing an additional 157 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Okta by 2.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company's stock valued at $605,000 after buying an additional 180 shares during the period. Great Lakes Advisors LLC lifted its stake in Okta by 2.7% during the 4th quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company's stock worth $557,000 after acquiring an additional 184 shares in the last quarter. Finally, CHICAGO TRUST Co NA boosted its holdings in Okta by 6.5% during the 4th quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company's stock valued at $246,000 after acquiring an additional 191 shares during the period. Hedge funds and other institutional investors own 86.64% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. BTIG Research reissued a "buy" rating on shares of Okta in a research note on Tuesday, March 4th. Barclays raised their price target 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. JPMorgan Chase & Co. upped their price objective on Okta from $100.00 to $105.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Truist Financial lifted their target price on Okta from $92.00 to $100.00 and gave the company a "hold" rating in a report on Tuesday, March 4th. Finally, Robert W. Baird upped their price target on Okta from $115.00 to $130.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Okta has a consensus rating of "Moderate Buy" and a consensus price target of $116.09.

Okta Stock Performance

Shares of OKTA stock traded down $0.67 during mid-day trading on Tuesday, hitting $100.21. The stock had a trading volume of 2,319,032 shares, compared to its average volume of 2,538,729. The firm has a market cap of $17.40 billion, a PE ratio of -286.31, a PEG ratio of 6.42 and a beta of 1.07. The company's 50-day simple moving average is $102.22 and its 200-day simple moving average is $88.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $118.07.

Insider Buying and Selling

In other news, CFO Brett Tighe sold 5,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total value of $445,000.00. Following the completion of the transaction, the chief financial officer now owns 112,533 shares in the company, valued at $10,015,437. This trade represents a 4.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Jonathan James Addison sold 7,005 shares of the firm's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $101.19, for a total transaction of $708,835.95. Following the completion of the sale, the executive now owns 19,067 shares of the company's stock, valued at $1,929,389.73. This trade represents a 26.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 768,202 shares of company stock valued at $71,371,369 over the last ninety days. Corporate insiders own 7.00% of the company's stock.

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.