Okta, Inc. (NASDAQ:OKTA) Holdings Cut by Harber Asset Management LLC

Harber Asset Management LLC lowered its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 11.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 184,333 shares of the company's stock after selling 24,233 shares during the quarter. Okta comprises approximately 4.4% of Harber Asset Management LLC's investment portfolio, making the stock its 10th largest holding. Harber Asset Management LLC owned about 0.11% of Okta worth $14,525,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of OKTA. Bank of Jackson Hole Trust bought a new position in Okta during the 4th quarter valued at $25,000. TD Private Client Wealth LLC boosted its stake in shares of Okta by 3,507.7% in the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock worth $37,000 after buying an additional 456 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Okta during the fourth quarter valued at approximately $43,000. Modus Advisors LLC bought a new stake in Okta during the fourth quarter worth $44,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Okta in the 4th quarter valued at $44,000. Institutional investors own 86.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OKTA. UBS Group set a $135.00 price objective on shares of Okta in a report on Tuesday, March 4th. Needham & Company LLC restated a "buy" rating and set a $115.00 price target on shares of Okta in a research note on Tuesday, March 4th. Mizuho upgraded shares of Okta from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $110.00 to $127.00 in a research note on Tuesday, March 4th. Stephens started coverage on Okta in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $127.00 price target on the stock. Finally, BMO Capital Markets lifted their price objective on Okta from $105.00 to $130.00 and gave the company a "market perform" rating in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $116.03.

Insiders Place Their Bets

In other Okta news, CRO Jonathan James Addison sold 7,005 shares of the firm's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $101.19, for a total value of $708,835.95. Following the completion of the sale, the executive now owns 19,067 shares of the company's stock, valued at approximately $1,929,389.73. This trade represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were 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 of the company's stock, valued at $2,088,199.38. The trade was a 10.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 768,202 shares of company stock worth $71,371,369 over the last 90 days. Company insiders own 7.00% of the company's stock.

Okta Stock Down 2.0 %

NASDAQ OKTA traded down $2.04 during trading on Friday, reaching $97.93. 1,898,455 shares of the company's stock traded hands, compared to its average volume of 2,554,358. The company's 50 day simple moving average is $102.38 and its two-hundred day simple moving average is $88.53. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $118.07. The firm has a market cap of $17.00 billion, a price-to-earnings ratio of -279.80, a price-to-earnings-growth ratio of 6.42 and a beta of 1.07. 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 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.