Korea Investment CORP Boosts Stock Position in Okta, Inc. (NASDAQ:OKTA)

Korea Investment CORP lifted its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,216 shares of the company's stock after acquiring an additional 3,917 shares during the quarter. Korea Investment CORP owned approximately 0.09% of Okta worth $12,625,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of OKTA. Charles Schwab Investment Management Inc. lifted its holdings in shares of Okta by 4.3% during the fourth 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 during the period. Point72 Asset Management L.P. acquired a new position in Okta during the 3rd quarter worth about $49,373,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Okta by 58.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 568,797 shares of the company's stock valued at $44,821,000 after buying an additional 210,615 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Okta by 138.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company's stock valued at $43,721,000 after buying an additional 322,201 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its stake in shares of Okta by 10.3% in the fourth quarter. Stephens Investment Management Group LLC now owns 452,307 shares of the company's stock valued at $35,642,000 after buying an additional 42,176 shares during the period. Institutional investors own 86.64% of the company's stock.

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Okta Price Performance

Shares of NASDAQ:OKTA traded down $8.34 on Friday, hitting $91.93. The company's stock had a trading volume of 7,543,540 shares, compared to its average volume of 2,471,264. The company has a market capitalization of $15.96 billion, a PE ratio of -262.66, a PEG 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. The company has a 50-day simple moving average of $101.64 and a 200 day simple moving average of $86.67. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $118.07.

Insiders Place Their Bets

In related news, insider Larissa Schwartz sold 11,552 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the sale, the insider now owns 22,125 shares in the company, valued at $2,524,241.25. The trade was a 34.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Eric Robert Kelleher sold 5,895 shares of Okta stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $113.75, for a total transaction of $670,556.25. Following the transaction, the insider now directly owns 9,828 shares in the company, valued at $1,117,935. This trade represents a 37.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 761,197 shares of company stock valued at $70,662,533 in the last quarter. Corporate insiders own 7.00% of the company's stock.

Analyst Upgrades and Downgrades

OKTA has been the subject of a number of recent analyst reports. DA Davidson raised shares of Okta from a "neutral" rating to a "buy" rating and increased their target price for the company from $90.00 to $125.00 in a research report on Tuesday, March 4th. Canaccord Genuity Group lifted their target price 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. Stephens began coverage on shares of Okta in a research report on Tuesday. They set an "equal weight" rating and a $127.00 price target on the stock. Susquehanna lifted their price objective on Okta from $95.00 to $105.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Finally, Robert W. Baird upped their target price on Okta from $115.00 to $130.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.09.

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.