Andra AP fonden Has $3.11 Million Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Andra AP fonden trimmed its position in shares of Okta, Inc. (NASDAQ:OKTA) by 24.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,400 shares of the company’s stock after selling 13,000 shares during the quarter. Andra AP fonden’s holdings in Okta were worth $3,105,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new position in shares of Okta in the third quarter worth approximately $25,000. Bank of Jackson Hole Trust acquired a new position in shares of Okta in the fourth quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Okta in the third quarter worth approximately $32,000. Modus Advisors LLC acquired a new position in shares of Okta in the fourth quarter worth approximately $44,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of Okta in the fourth quarter worth approximately $44,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Trading Up 1.1 %

Shares of Okta stock opened at $112.44 on Monday. The stock has a fifty day simple moving average of $91.72 and a 200 day simple moving average of $82.79. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $116.96. The company has a market capitalization of $19.27 billion, a P/E ratio of -321.26, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.

Insider Buying and Selling

In related news, CFO Brett Tighe sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00. Following the completion of the sale, the chief financial officer now owns 112,533 shares in the company, valued at approximately $10,015,437. This represents a 4.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Todd Mckinnon sold 233,028 shares of the business’s stock in a transaction on 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 90 days, insiders sold 979,482 shares of company stock worth $88,072,216. 7.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Sanford C. Bernstein cut their price objective on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 17th. Susquehanna lifted their price objective on Okta from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. The Goldman Sachs Group lifted their price objective on Okta from $107.00 to $123.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Royal Bank of Canada lifted their target price on Okta from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. lifted their target price on Okta from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Okta presently has a consensus rating of “Moderate Buy” and an average price target of $113.10.

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.