Dynamic Technology Lab Private Ltd Has $1.01 Million Stock Position in Okta, Inc. (NASDAQ:OKTA)

Dynamic Technology Lab Private Ltd cut its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 52.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,815 shares of the company's stock after selling 14,400 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Okta were worth $1,010,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in Okta during the fourth quarter valued at approximately $234,992,000. Geode Capital Management LLC raised its holdings in shares of Okta by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company's stock valued at $212,385,000 after purchasing an additional 135,110 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Okta by 54.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,241,220 shares of the company's stock valued at $97,808,000 after purchasing an additional 440,171 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Okta by 4.3% in 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Okta by 570.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 869,362 shares of the company's stock worth $68,506,000 after buying an additional 739,707 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Price Performance

OKTA stock traded down $1.75 during trading on Friday, hitting $99.88. The company had a trading volume of 716,214 shares, compared to its average volume of 2,521,288. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average price of $102.00 and a two-hundred day moving average price of $87.56. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $118.07. The company has a market cap of $17.34 billion, a P/E ratio of -285.55, a P/E/G ratio of 6.42 and a beta of 1.07.

Insider Activity

In other news, CFO Brett Tighe sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total value of $445,000.00. Following the transaction, the chief financial officer now directly owns 112,533 shares of the company's stock, valued at $10,015,437. The trade was a 4.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jacques Frederic Kerrest sold 3,306 shares of the firm's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total value of $293,738.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 761,197 shares of company stock worth $70,662,533. Corporate insiders own 7.00% of the company's stock.

Analyst Ratings Changes

OKTA has been the subject of a number of analyst reports. Citigroup boosted their price target on Okta from $100.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. The Goldman Sachs Group boosted their target price on Okta from $107.00 to $123.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. DA Davidson raised shares of Okta from a "neutral" rating to a "buy" rating and lifted their price target for the company from $90.00 to $125.00 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 stock an "outperform" rating in a research note on Tuesday, March 4th. Finally, Westpark Capital reiterated a "buy" rating and issued a $140.00 target price on shares of Okta in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock 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.