Edmond DE Rothschild Holding S.A. Sells 522,020 Shares of Okta, Inc. (NASDAQ:OKTA)

Edmond DE Rothschild Holding S.A. lowered its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 99.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,980 shares of the company's stock after selling 522,020 shares during the quarter. Edmond DE Rothschild Holding S.A.'s holdings in Okta were worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new stake in Okta in the 3rd quarter worth about $25,000. Bank of Jackson Hole Trust bought a new stake in shares of Okta in the fourth quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Okta during the third quarter valued at approximately $32,000. TD Private Client Wealth LLC raised its holdings in shares of Okta by 3,507.7% during the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock valued at $37,000 after purchasing an additional 456 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in Okta in the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 86.64% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on OKTA. Wells Fargo & Company boosted their target price on shares of Okta from $95.00 to $100.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. DA Davidson raised 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 report on Tuesday, March 4th. KeyCorp boosted their price target on Okta from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. Scotiabank boosted their target price on shares of Okta from $94.00 to $109.00 and gave the company a "sector perform" rating in a research report on Tuesday, March 4th. Finally, Truist Financial increased their price target on shares of Okta from $92.00 to $100.00 and gave the stock a "hold" rating in a research report on Tuesday, March 4th. One equities 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $116.09.

Remove Ads

Insiders Place Their Bets

In other news, CFO Brett Tighe sold 5,000 shares of the company's 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 transaction, the chief financial officer now directly owns 112,533 shares in the company, valued at approximately $10,015,437. This represents a 4.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 2,704 shares of the firm's stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $89.58, for a total transaction of $242,224.32. Following the completion of the transaction, the insider now directly owns 23,311 shares in the company, valued at $2,088,199.38. This represents a 10.39 % decrease in their position. 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 over the last 90 days. Insiders own 7.00% of the company's stock.

Okta Trading Down 8.3 %

OKTA traded down $8.34 during trading on Friday, reaching $91.93. The company had a trading volume of 7,543,540 shares, compared to its average volume of 2,471,264. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $118.07. The stock has a market cap of $15.96 billion, a P/E ratio of -262.66, a PEG ratio of 6.42 and a beta of 1.06. 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 simple moving average of $101.64 and a 200-day simple moving average of $86.67.

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.