First Trust Advisors LP Trims Holdings in Okta, Inc. (NASDAQ:OKTA)

First Trust Advisors LP lessened its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,705,088 shares of the company's stock after selling 53,321 shares during the quarter. First Trust Advisors LP owned about 2.16% of Okta worth $291,961,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new stake in Okta in the fourth quarter worth $1,686,000. Nordea Investment Management AB increased its holdings in Okta by 1,150.2% during the 4th 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 during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Okta by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company's stock valued at $87,903,000 after acquiring an additional 46,064 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Okta by 125.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 11,244 shares of the company's stock valued at $861,000 after purchasing an additional 6,265 shares in the last quarter. Finally, Westpac Banking Corp lifted its holdings in Okta by 2,574.9% during the fourth quarter. Westpac Banking Corp now owns 9,817 shares of the company's stock worth $774,000 after buying an additional 9,450 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Price Performance

Shares of NASDAQ OKTA traded up $3.43 during midday trading on Thursday, hitting $101.76. The company had a trading volume of 638,146 shares, compared to its average volume of 2,560,665. 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 firm has a market capitalization of $17.67 billion, a price-to-earnings ratio of -290.56, a price-to-earnings-growth ratio of 6.42 and a beta of 1.07. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $118.07. The business has a 50-day simple moving average of $102.19 and a two-hundred day simple moving average of $89.00.

Analyst Ratings Changes

OKTA has been the subject of several recent analyst reports. Roth Capital started coverage on shares of Okta in a research note on Wednesday. They set a "buy" rating and a $119.00 price objective for the company. Canaccord Genuity Group increased their price objective 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. Morgan Stanley dropped their price objective on shares of Okta from $125.00 to $123.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Susquehanna raised their price objective on Okta from $95.00 to $105.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. Finally, Stephens began coverage on shares of Okta in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $127.00 price target for the company. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.12.

Insider Buying and Selling

In other Okta news, CFO Brett Tighe sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $94.56, for a total transaction of $472,800.00. Following the completion of the sale, the chief financial officer now directly owns 102,533 shares in the company, valued at $9,695,520.48. The trade was a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $93.00, for a total value of $12,090,000.00. The disclosure for this sale can be found here. Insiders have sold 362,192 shares of company stock worth $35,988,856 in the last three months. Corporate insiders own 7.00% of the company's stock.

About Okta

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.