US Bancorp DE Cuts Holdings in Okta, Inc. (NASDAQ:OKTA)

US Bancorp DE decreased its position in Okta, Inc. (NASDAQ:OKTA) by 2.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 77,646 shares of the company’s stock after selling 1,592 shares during the period. US Bancorp DE’s holdings in Okta were worth $6,119,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Okta by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock worth $79,503,000 after buying an additional 17,950 shares during the last quarter. Penserra Capital Management LLC raised its position in Okta by 9.8% in the third quarter. Penserra Capital Management LLC now owns 767,962 shares of the company’s stock worth $57,089,000 after acquiring an additional 68,757 shares during the period. Point72 Asset Management L.P. purchased a new position in Okta in the third quarter valued at about $49,373,000. Allspring Global Investments Holdings LLC grew its position 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 valued at $43,721,000 after acquiring an additional 322,201 shares during the period. Finally, Glenmede Trust Co. NA increased its stake in shares of Okta by 17.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 510,658 shares of the company’s stock worth $37,962,000 after purchasing an additional 76,588 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

OKTA has been the subject of several research reports. Oppenheimer increased their price objective on Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday. Susquehanna increased their price target on Okta from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday. Westpark Capital restated a “buy” rating and issued a $140.00 price objective on shares of Okta in a research note on Friday, February 28th. KeyCorp upped their price objective on shares of Okta from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Barclays lifted their target price on shares of Okta from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Okta has a consensus rating of “Moderate Buy” and an average price target of $113.10.

Insider Buying and Selling

In other Okta news, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the sale, the insider now owns 24,462 shares of the company’s stock, valued at $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd Mckinnon sold 233,028 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 849,482 shares of company stock worth $74,422,216. Corporate insiders own 7.00% of the company’s stock.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $108.31 on Wednesday. The company’s fifty day moving average price is $89.88 and its 200-day moving average price is $82.47. 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 has a market capitalization of $18.56 billion, a price-to-earnings ratio of -309.46, a PEG ratio of 6.42 and a beta of 1.09. Okta, Inc. has a one year low of $70.56 and a one year high of $114.50.

Okta Profile

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.