Tredje AP fonden Boosts Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Tredje AP fonden boosted its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 757.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 226,295 shares of the company's stock after buying an additional 199,906 shares during the period. Tredje AP fonden owned approximately 0.13% of Okta worth $17,832,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Paloma Partners Management Co purchased a new position in Okta in the 3rd quarter valued at approximately $969,000. SBI Securities Co. Ltd. purchased a new position in Okta in the 4th quarter valued at approximately $1,686,000. Stifel Financial Corp grew its stake in Okta by 56.1% in the 3rd quarter. Stifel Financial Corp now owns 37,258 shares of the company's stock valued at $2,770,000 after buying an additional 13,387 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Okta by 1,150.2% during the 4th 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 in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Okta by 105.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company's stock valued at $26,627,000 after purchasing an additional 184,107 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Okta news, Director Jacques Frederic Kerrest sold 130,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total transaction of $13,650,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Larissa Schwartz sold 2,740 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $97.59, for a total transaction of $267,396.60. Following the transaction, the insider now directly owns 22,125 shares of the company's stock, valued at $2,159,178.75. This represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 979,482 shares of company stock valued at $88,072,216 over the last three months. Corporate insiders own 7.00% of the company's stock.

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Okta Trading Down 2.0 %

OKTA stock traded down $2.15 during trading on Thursday, reaching $106.63. The company had a trading volume of 3,481,315 shares, compared to its average volume of 3,252,940. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $116.96. The company has a market cap of $18.27 billion, a P/E ratio of -304.66, a PEG ratio of 6.42 and a beta of 1.09. The business has a 50 day moving average of $93.39 and a 200 day moving average of $83.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Westpark Capital reaffirmed a "buy" rating and set a $140.00 price objective on shares of Okta in a report on Friday, February 28th. Guggenheim reaffirmed a "buy" rating and set a $130.00 price objective on shares of Okta in a report on Wednesday, December 4th. Susquehanna boosted their price target on shares of Okta from $95.00 to $105.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. UBS Group set a $135.00 price target on shares of Okta in a research note on Tuesday, March 4th. Finally, Canaccord Genuity Group boosted their price target on shares of Okta from $94.00 to $100.00 and gave the stock a "hold" rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Okta currently has a consensus rating of "Moderate Buy" and a consensus price target of $114.39.

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.