Thematics Asset Management Sells 59,000 Shares of Okta, Inc. (NASDAQ:OKTA)

Thematics Asset Management trimmed its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 31.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 131,000 shares of the company's stock after selling 59,000 shares during the period. Thematics Asset Management owned approximately 0.08% of Okta worth $10,323,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Bank of Jackson Hole Trust acquired a new stake in Okta during the fourth quarter valued at approximately $25,000. TD Private Client Wealth LLC boosted its stake in Okta by 3,507.7% in the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock valued at $37,000 after buying an additional 456 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in Okta in the 4th quarter valued at $43,000. Modus Advisors LLC bought a new stake in Okta in the fourth quarter valued at $44,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Okta during the fourth quarter worth $44,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Jacques Frederic Kerrest sold 130,000 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $93.00, for a total transaction of $12,090,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Larissa Schwartz sold 2,740 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total value of $267,396.60. Following the transaction, the insider now directly owns 22,125 shares in the company, valued at $2,159,178.75. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 362,192 shares of company stock worth $35,988,856 over the last ninety days. Insiders own 7.00% of the company's stock.

Analysts Set New Price Targets

OKTA has been the subject of a number of recent analyst reports. UBS Group set a $135.00 target price on shares of Okta in a research report on Tuesday, March 4th. Stephens assumed coverage on shares of Okta in a report on Tuesday, April 1st. They set an "equal weight" rating and a $127.00 price objective for the company. Mizuho raised Okta from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $110.00 to $127.00 in a report on Tuesday, March 4th. Scotiabank raised their price target on Okta from $94.00 to $109.00 and gave the company a "sector perform" rating in a report on Tuesday, March 4th. Finally, Susquehanna lifted their price objective on Okta from $95.00 to $105.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Okta presently has a consensus rating of "Moderate Buy" and an average price target of $116.12.

Okta Stock Up 3.3 %

Shares of OKTA stock traded up $3.21 on Thursday, hitting $101.54. 1,598,548 shares of the stock were exchanged, compared to its average volume of 2,564,376. The business has a 50-day moving average of $102.19 and a 200 day moving average of $89.00. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $118.07. The firm has a market capitalization of $17.63 billion, a P/E ratio of -290.11, a price-to-earnings-growth ratio of 6.42 and a beta of 1.07. The company has a current ratio of 1.34, a quick 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.