Okta, Inc. (NASDAQ:OKTA) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group lessened its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 19.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 218,372 shares of the company's stock after selling 54,054 shares during the period. Schroder Investment Management Group owned 0.13% of Okta worth $17,391,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Frank Rimerman Advisors LLC boosted its holdings in shares of Okta by 2.4% during the 4th quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company's stock worth $352,000 after purchasing an additional 105 shares during the last quarter. Stephens Inc. AR lifted its position in Okta by 5.0% during the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company's stock worth $260,000 after buying an additional 157 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Okta by 2.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company's stock worth $605,000 after buying an additional 180 shares during the last quarter. Great Lakes Advisors LLC grew its holdings in Okta by 2.7% in the 4th quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company's stock valued at $557,000 after buying an additional 184 shares in the last quarter. Finally, CHICAGO TRUST Co NA increased its stake in shares of Okta by 6.5% in the 4th quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company's stock worth $246,000 after acquiring an additional 191 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Sanford C. Bernstein dropped their price objective on shares of Okta from $129.00 to $124.00 and set an "outperform" rating for the company in a report on Tuesday, December 17th. Cantor Fitzgerald initiated coverage on Okta in a research report on Monday. They set an "overweight" rating and a $130.00 price objective for the company. Wells Fargo & Company upped their target price on shares of Okta from $95.00 to $100.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. increased their target price on shares of Okta from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Finally, Citigroup boosted their price target on shares of Okta from $100.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Okta currently has a consensus rating of "Moderate Buy" and an average price target of $116.09.

Insider Buying and Selling

In other news, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $2,088,199.38. This represents a 10.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total value of $445,000.00. Following the completion of the sale, the chief financial officer now owns 112,533 shares in the company, valued at approximately $10,015,437. This trade represents a 4.25 % decrease in their ownership of the stock. 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 three months. 7.00% of the stock is currently owned by company insiders.

Okta Stock Performance

OKTA traded down $8.34 on Friday, hitting $91.93. 7,543,540 shares of the company traded hands, compared to its average volume of 2,471,264. The company has a 50 day moving average of $101.64 and a 200-day moving average of $86.67. 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 $15.96 billion, a PE 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.

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.