Okta, Inc. (NASDAQ:OKTA) Stake Cut by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co cut its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 21.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,249 shares of the company’s stock after selling 3,048 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Okta were worth $886,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its position in Okta by 3.3% during the third quarter. The Manufacturers Life Insurance Company now owns 7,737 shares of the company’s stock valued at $575,000 after purchasing an additional 250 shares in the last quarter. Townsquare Capital LLC grew its holdings in shares of Okta by 16.5% during the 3rd quarter. Townsquare Capital LLC now owns 6,321 shares of the company’s stock valued at $470,000 after acquiring an additional 896 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Okta by 7.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,547 shares of the company’s stock valued at $8,813,000 after acquiring an additional 8,239 shares in the last quarter. Vinva Investment Management Ltd increased its stake in shares of Okta by 8.0% in the third quarter. Vinva Investment Management Ltd now owns 7,445 shares of the company’s stock worth $551,000 after acquiring an additional 552 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Okta by 2.5% during the third quarter. Rockefeller Capital Management L.P. now owns 58,105 shares of the company’s stock worth $4,320,000 after acquiring an additional 1,441 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analysts Set New Price Targets

OKTA has been the topic of a number of recent research reports. Jefferies Financial Group boosted their target price on Okta from $90.00 to $110.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. UBS Group set a $135.00 price target on Okta in a research note on Tuesday, March 4th. Mizuho raised shares of Okta from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $110.00 to $127.00 in a research report on Tuesday, March 4th. Robert W. Baird lifted their target price on shares of Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $115.00 price target on shares of Okta in a research note on Tuesday, March 4th. One 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.29.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 2,704 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $89.58, for a total value of $242,224.32. Following the completion of the transaction, the insider now directly owns 23,311 shares of the company’s stock, valued at $2,088,199.38. This trade represents a 10.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jacques Frederic Kerrest sold 3,306 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total transaction of $293,738.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 761,197 shares of company stock valued at $70,662,533. 7.00% of the stock is owned by corporate insiders.

Okta Stock Down 2.9 %

OKTA stock opened at $107.99 on Monday. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $118.07. 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 market cap of $18.75 billion, a PE ratio of -308.54, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. The business’s 50-day simple moving average is $100.33 and its 200 day simple moving average is $85.87.

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.