Citizens Financial Group Inc. RI Sells 2,719 Shares of Okta, Inc. (NASDAQ:OKTA)

Citizens Financial Group Inc. RI cut its stake in Okta, Inc. (NASDAQ:OKTA) by 15.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,618 shares of the company’s stock after selling 2,719 shares during the period. Citizens Financial Group Inc. RI’s holdings in Okta were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of OKTA. Itau Unibanco Holding S.A. bought a new position in shares of Okta in the third quarter worth about $25,000. Bank of Jackson Hole Trust acquired a new stake in shares of Okta during the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Okta during the 3rd quarter worth approximately $32,000. Modus Advisors LLC acquired a new stake in shares of Okta during the 4th quarter worth approximately $44,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Okta during the 4th quarter worth approximately $44,000. 86.64% of the stock is owned by institutional investors.

Okta Stock Performance

Shares of OKTA stock opened at $108.78 on Thursday. The company’s fifty day simple moving average is $93.39 and its 200-day simple moving average is $83.09. 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 firm has a market cap of $18.64 billion, a PE ratio of -310.80, a P/E/G ratio of 6.42 and a beta of 1.09. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $116.96.

Insider Transactions at Okta

In other news, Director Jacques Frederic Kerrest sold 130,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total value of $13,650,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Larissa Schwartz sold 2,704 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $80.50, for a total transaction of $217,672.00. Following the sale, the insider now directly owns 24,462 shares in the company, valued at $1,969,191. This trade represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 979,482 shares of company stock valued at $88,072,216 over the last 90 days. 7.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OKTA. Stifel Nicolaus lifted their price target on shares of Okta from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Oppenheimer lifted their price target on shares of Okta from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Barclays lifted their price target on shares of Okta from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. UBS Group set a $135.00 price objective on shares of Okta in a report on Tuesday, March 4th. Finally, Scotiabank boosted their price objective on shares of Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.