Okta, Inc. (NASDAQ:OKTA) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. cut its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 26.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,031 shares of the company's stock after selling 43,035 shares during the quarter. Vontobel Holding Ltd. owned about 0.07% of Okta worth $9,616,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Creative Planning boosted its holdings in Okta by 661.0% in the third quarter. Creative Planning now owns 86,681 shares of the company's stock valued at $6,444,000 after purchasing an additional 75,290 shares during the last quarter. NBC Securities Inc. boosted its holdings in Okta by 1,379.5% in the third quarter. NBC Securities Inc. now owns 2,885 shares of the company's stock valued at $214,000 after purchasing an additional 2,690 shares during the last quarter. Swedbank AB boosted its holdings in Okta by 0.8% in the third quarter. Swedbank AB now owns 80,011 shares of the company's stock valued at $5,948,000 after purchasing an additional 609 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in Okta by 4.6% in the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company's stock valued at $306,000 after purchasing an additional 182 shares during the last quarter. Finally, Aaron Wealth Advisors LLC boosted its holdings in Okta by 19.0% in the third quarter. Aaron Wealth Advisors LLC now owns 3,419 shares of the company's stock valued at $254,000 after purchasing an additional 547 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Okta news, insider Larissa Schwartz sold 2,740 shares of the 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 sale, the insider now directly owns 22,125 shares in the company, valued at $2,159,178.75. This represents a 11.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jacques Frederic Kerrest sold 65,000 shares of the firm's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $97.50, for a total transaction of $6,337,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 980,908 shares of company stock worth $85,025,665 in the last ninety days. 7.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company upped their price target on shares of Okta from $80.00 to $95.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Jefferies Financial Group decreased their price objective on shares of Okta from $100.00 to $90.00 and set a "hold" rating for the company in a research report on Thursday, December 19th. Susquehanna upped their price objective on shares of Okta from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 4th. KeyCorp upped their price objective on shares of Okta from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. Finally, Robert W. Baird upped their price objective on shares of Okta from $105.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Okta currently has an average rating of "Hold" and an average target price of $105.45.

Okta Stock Down 0.1 %

Okta stock traded down $0.06 during mid-day trading on Wednesday, reaching $96.98. 1,524,918 shares of the company's stock were exchanged, compared to its average volume of 2,465,151. The company has a market cap of $16.62 billion, a P/E ratio of -277.09, a P/E/G ratio of 6.49 and a beta of 1.03. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average of $87.96 and a 200-day moving average of $82.28.

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.