Elo Mutual Pension Insurance Co Sells 3,048 Shares of Okta, Inc. (NASDAQ:OKTA)

Elo Mutual Pension Insurance Co cut its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 21.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,249 shares of the company's stock after selling 3,048 shares during the quarter. Elo Mutual Pension Insurance Co's holdings in Okta were worth $886,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its stake in shares of Okta by 3.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,737 shares of the company's stock valued at $575,000 after buying an additional 250 shares in the last quarter. Townsquare Capital LLC lifted its position in shares of Okta by 16.5% during the third quarter. Townsquare Capital LLC now owns 6,321 shares of the company's stock worth $470,000 after acquiring an additional 896 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Okta by 7.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,547 shares of the company's stock worth $8,813,000 after acquiring an additional 8,239 shares during the period. Vinva Investment Management Ltd grew its position in shares of Okta by 8.0% in the third quarter. Vinva Investment Management Ltd now owns 7,445 shares of the company's stock valued at $551,000 after purchasing an additional 552 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in shares of Okta by 2.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 58,105 shares of the company's stock valued at $4,320,000 after purchasing an additional 1,441 shares during the period. Institutional investors own 86.64% of the company's stock.

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Analysts Set New Price Targets

Several research analysts have commented on the company. Truist Financial raised their target price on Okta from $92.00 to $100.00 and gave the stock a "hold" rating in a research note on Tuesday, March 4th. UBS Group set a $135.00 price objective on shares of Okta in a research note on Tuesday, March 4th. Wells Fargo & Company increased their target price on shares of Okta from $95.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. The Goldman Sachs Group raised their price target on shares of Okta from $107.00 to $123.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Finally, Mizuho raised shares of Okta from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $110.00 to $127.00 in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $116.09.

Okta Trading Down 8.3 %

Shares of NASDAQ:OKTA traded down $8.34 during trading on Friday, reaching $91.93. 7,543,540 shares of the company traded hands, compared to its average volume of 2,471,264. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $118.07. The firm has a market capitalization of $15.96 billion, a price-to-earnings ratio of -262.66, a P/E/G ratio of 6.42 and a beta of 1.06. The business's fifty day moving average is $101.64 and its 200-day moving average is $86.67.

Insider Activity at Okta

In other news, insider Larissa Schwartz sold 2,704 shares of the company's stock in a transaction dated 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 approximately $2,088,199.38. This represents a 10.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Eric Robert Kelleher sold 5,895 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $113.75, for a total value of $670,556.25. Following the completion of the sale, the insider now owns 9,828 shares of the company's stock, valued at approximately $1,117,935. This trade represents a 37.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 761,197 shares of company stock worth $70,662,533 in the last three months. 7.00% of the stock is owned by insiders.

Okta 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.