Renaissance Technologies LLC reduced its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 37.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 249,315 shares of the company's stock after selling 149,572 shares during the quarter. Renaissance Technologies LLC owned about 0.15% of Okta worth $19,646,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of OKTA. Norges Bank purchased a new position in Okta during the fourth quarter valued at approximately $234,992,000. Geode Capital Management LLC increased its holdings in shares of Okta by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company's stock worth $212,385,000 after purchasing an additional 135,110 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Okta by 54.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,241,220 shares of the company's stock worth $97,808,000 after buying an additional 440,171 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Okta by 4.3% during 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 buying an additional 46,064 shares during the period. Finally, Massachusetts Financial Services Co. MA grew 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 in the last quarter. 86.64% of the stock is owned by institutional investors.
Okta Stock Down 2.0 %
OKTA traded down $2.04 on Friday, hitting $97.93. The company had a trading volume of 1,898,455 shares, compared to its average volume of 2,547,372. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $118.07. The stock has a market capitalization of $17.00 billion, a price-to-earnings ratio of -279.80, a P/E/G ratio of 6.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a fifty day moving average price of $102.34 and a 200-day moving average price of $88.35.
Insider Transactions at Okta
In other news, insider Larissa Schwartz sold 2,704 shares of the company's stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $89.58, for a total value of $242,224.32. Following the sale, the insider now directly owns 23,311 shares of the company's stock, valued at $2,088,199.38. This represents a 10.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jacques Frederic Kerrest sold 3,306 shares of the business's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total transaction of $293,738.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 768,202 shares of company stock valued at $71,371,369. Corporate insiders own 7.00% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. Citigroup upped their price objective on shares of Okta from $100.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Oppenheimer increased their price target on shares of Okta from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. The Goldman Sachs Group lifted their price objective on shares of Okta from $107.00 to $123.00 and gave the stock a "buy" rating in a report 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 research note on Tuesday, March 4th. Finally, Scotiabank lifted their price target on Okta from $94.00 to $109.00 and gave the stock a "sector perform" rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $116.03.
Check Out Our Latest Report on Okta
About Okta
(
Free Report)
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.
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