Resona Asset Management Co. Ltd. purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 45,846 shares of the company's stock, valued at approximately $3,629,000.
A number of other institutional investors have also added to or reduced their stakes in OKTA. Norges Bank bought a new position in shares of Okta during the 4th quarter worth approximately $234,992,000. Massachusetts Financial Services Co. MA boosted 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 purchasing an additional 739,707 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings 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 valued at $97,808,000 after purchasing an additional 440,171 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Okta by 1,150.2% in the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company's stock valued at $33,146,000 after purchasing an additional 382,190 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Okta by 138.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company's stock worth $43,721,000 after buying an additional 322,201 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Okta
In other news, insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the transaction, the insider now owns 22,125 shares in the company, valued at approximately $2,524,241.25. The trade was a 34.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the stock in a transaction 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. Over the last three months, insiders sold 761,197 shares of company stock worth $70,662,533. 7.00% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of research analysts recently commented on OKTA shares. Jefferies Financial Group upped their price target on shares of Okta from $90.00 to $110.00 and gave the company a "hold" rating in a research note on Tuesday, March 4th. Stifel Nicolaus upped their target price on Okta from $115.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Scotiabank lifted their price target on Okta from $94.00 to $109.00 and gave the stock a "sector perform" rating in a report on Tuesday, March 4th. Sanford C. Bernstein decreased their price objective on Okta from $129.00 to $124.00 and set an "outperform" rating on the stock in a report on Tuesday, December 17th. Finally, Oppenheimer increased their price objective on Okta from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Okta has a consensus rating of "Moderate Buy" and a consensus target price of $116.09.
Get Our Latest Analysis on OKTA
Okta Price Performance
Shares of OKTA traded up $0.31 during trading hours on Tuesday, reaching $101.19. The stock had a trading volume of 456,373 shares, compared to its average volume of 2,528,532. The stock has a market capitalization of $17.57 billion, a PE ratio of -289.04, a PEG ratio of 6.42 and a beta of 1.07. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $118.07. 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 company's 50-day moving average is $102.22 and its two-hundred day moving average is $88.03.
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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