Fjarde AP Fonden Fourth Swedish National Pension Fund Grows Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,100 shares of the company’s stock after acquiring an additional 800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Okta were worth $3,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Okta Trading Down 1.7 %

NASDAQ:OKTA opened at $89.34 on Wednesday. The firm has a market capitalization of $15.31 billion, a P/E ratio of -255.26, a P/E/G ratio of 6.42 and a beta of 1.03. 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 fifty day moving average of $88.84 and a 200 day moving average of $82.52. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $114.50.

Insider Buying and Selling at Okta

In other news, CEO Todd Mckinnon sold 233,028 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $82.31, for a total transaction of $19,180,534.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Larissa Schwartz sold 2,704 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $80.50, for a total value of $217,672.00. Following the completion of the sale, the insider now directly owns 24,462 shares of the company’s stock, valued at $1,969,191. The trade was a 9.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 980,908 shares of company stock worth $85,025,665. 7.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OKTA. Sanford C. Bernstein lowered their target price on shares of Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 17th. KeyCorp upped their price target on shares of Okta from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. DA Davidson lifted their price objective on Okta from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group upped their target price on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Finally, BTIG Research lifted their price target on Okta from $98.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Okta has a consensus rating of “Hold” and a consensus target price of $106.13.

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.