Pictet Asset Management Holding SA cut its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 17.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 901,474 shares of the company's stock after selling 189,038 shares during the period. Pictet Asset Management Holding SA owned about 0.53% of Okta worth $71,036,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of Jackson Hole Trust purchased a new stake in shares of Okta in the 4th quarter worth $25,000. Itau Unibanco Holding S.A. bought a new stake in shares of Okta in the third quarter valued at about $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Okta in the third quarter valued at about $32,000. TD Private Client Wealth LLC lifted its stake in Okta by 3,507.7% in the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock worth $37,000 after acquiring an additional 456 shares during the period. Finally, Wingate Wealth Advisors Inc. bought a new position in Okta during the 4th quarter worth about $44,000. Institutional investors own 86.64% of the company's stock.
Insiders Place Their Bets
In other Okta news, CFO Brett Tighe sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $87.29, for a total transaction of $436,450.00. Following the transaction, the chief financial officer now owns 107,533 shares in the company, valued at approximately $9,386,555.57. This represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the business's stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total value of $33,965,100.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 761,197 shares of company stock worth $70,662,533. Corporate insiders own 7.00% of the company's stock.
Wall Street Analyst Weigh In
OKTA has been the subject of several research reports. KeyCorp upped their price target on shares of Okta from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. Sanford C. Bernstein dropped their target price on Okta from $129.00 to $124.00 and set an "outperform" rating on the stock in a research report on Tuesday, December 17th. Wells Fargo & Company lifted their price target on Okta from $95.00 to $100.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Scotiabank upped their price objective on Okta from $94.00 to $109.00 and gave the stock a "sector perform" rating in a research note on Tuesday, March 4th. Finally, Barclays lifted their target price on Okta from $105.00 to $115.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Okta presently has an average rating of "Moderate Buy" and a consensus price target of $116.09.
Check Out Our Latest Stock Report on OKTA
Okta Stock Performance
Shares of NASDAQ OKTA traded down $6.64 during trading on Thursday, reaching $98.74. 951,760 shares of the company traded hands, compared to its average volume of 3,128,319. The stock has a market cap of $17.14 billion, a P/E ratio of -282.11, a PEG ratio of 6.42 and a beta of 1.06. The firm's fifty day simple moving average is $101.33 and its 200 day simple moving average is $86.45. 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 12-month low of $70.56 and a 12-month high of $118.07.
Okta Profile
(
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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