Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in Okta, Inc. (NASDAQ:OKTA)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 28.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 152,510 shares of the company's stock after acquiring an additional 33,963 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.09% of Okta worth $12,018,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Paloma Partners Management Co purchased a new position in Okta during the third quarter valued at $969,000. SBI Securities Co. Ltd. purchased a new position in Okta during the 4th quarter valued at about $1,686,000. Stifel Financial Corp boosted its stake in Okta by 56.1% during the third quarter. Stifel Financial Corp now owns 37,258 shares of the company's stock worth $2,770,000 after acquiring an additional 13,387 shares in the last quarter. Nordea Investment Management AB grew its holdings in Okta by 1,150.2% in the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company's stock worth $33,146,000 after purchasing an additional 382,190 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Okta by 105.8% during the third 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 institutional investors.

Okta Price Performance

NASDAQ OKTA traded down $2.15 during mid-day trading on Thursday, hitting $106.63. The stock had a trading volume of 3,481,315 shares, compared to its average volume of 3,252,940. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $116.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The firm's 50 day moving average is $93.39 and its 200 day moving average is $83.09. The stock has a market capitalization of $18.27 billion, a price-to-earnings ratio of -304.66, a PEG ratio of 6.42 and a beta of 1.09.

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Wall Street Analyst Weigh In

Several research firms have commented on OKTA. 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. Susquehanna lifted their target price on shares of Okta from $95.00 to $105.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Citigroup upped their price target on shares of Okta from $100.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Scotiabank boosted their target price on shares of Okta from $94.00 to $109.00 and gave the company a "sector perform" rating in a research report on Tuesday, March 4th. Finally, Jefferies Financial Group upped their price objective on Okta from $90.00 to $110.00 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 given a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Okta presently has an average rating of "Moderate Buy" and an average target price of $114.39.

Insider Buying and Selling

In other Okta news, insider Larissa Schwartz sold 2,704 shares of the business's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.50, for a total value of $217,672.00. Following the transaction, the insider now directly owns 24,462 shares in the company, valued at $1,969,191. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total transaction of $13,650,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 979,482 shares of company stock worth $88,072,216. 7.00% of the stock is owned by insiders.

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.