Okta, Inc. (NASDAQ:OKTA) Shares Sold by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. reduced its position in Okta, Inc. (NASDAQ:OKTA) by 99.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,980 shares of the company’s stock after selling 522,020 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Okta were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Okta in the 4th quarter worth about $234,992,000. Point72 Asset Management L.P. purchased a new position in Okta in the third quarter valued at approximately $49,373,000. Arrowstreet Capital Limited Partnership lifted its position in Okta by 54.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,241,220 shares of the company’s stock valued at $97,808,000 after buying an additional 440,171 shares in the last quarter. Nordea Investment Management AB grew its stake in Okta by 1,150.2% during the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock worth $33,146,000 after buying an additional 382,190 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Okta by 138.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock worth $43,721,000 after acquiring an additional 322,201 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Trading Up 0.7 %

Shares of NASDAQ OKTA opened at $105.38 on Thursday. The company has a market cap of $18.29 billion, a price-to-earnings ratio of -301.09, a price-to-earnings-growth ratio of 6.42 and a beta of 1.06. The stock’s 50 day simple moving average is $101.33 and its 200 day simple moving average is $86.45. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $118.07.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. JMP Securities restated a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. Robert W. Baird boosted their price objective on Okta from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. Morgan Stanley set a $125.00 target price on Okta in a research note on Tuesday, March 18th. Wells Fargo & Company boosted their price target on Okta from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Finally, Oppenheimer increased their price objective on shares of Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.09.

Insider Buying and Selling at Okta

In related news, insider Larissa Schwartz sold 11,552 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total value of $1,317,967.68. Following the sale, the insider now owns 22,125 shares of the company’s stock, valued at $2,524,241.25. This trade represents a 34.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Robert Kelleher sold 5,895 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $113.75, for a total transaction of $670,556.25. Following the transaction, the insider now directly owns 9,828 shares of the company’s stock, valued at $1,117,935. The trade was a 37.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 761,197 shares of company stock worth $70,662,533. 7.00% of the stock is owned by insiders.

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.