Okta, Inc. (NASDAQ:OKTA) Holdings Lowered by Swiss National Bank

Swiss National Bank trimmed its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 4.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 458,800 shares of the company’s stock after selling 18,900 shares during the period. Swiss National Bank owned approximately 0.27% of Okta worth $36,153,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of OKTA. Itau Unibanco Holding S.A. acquired a new position in Okta during the third quarter valued at $25,000. Bank of Jackson Hole Trust acquired a new position in Okta during the fourth quarter valued at $25,000. Legacy Investment Solutions LLC acquired a new position in Okta during the third quarter valued at $32,000. Modus Advisors LLC acquired a new position in Okta during the fourth quarter valued at $44,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Okta during the fourth quarter valued at $44,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. This represents a 9.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total value of $13,650,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 979,482 shares of company stock worth $88,072,216. 7.00% of the stock is currently owned by company insiders.

Okta Price Performance

Shares of OKTA stock opened at $112.55 on Monday. The stock has a 50 day moving average of $94.58 and a two-hundred day moving average of $83.17. 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 $116.96. The company has a market capitalization of $19.29 billion, a P/E ratio of -321.57, a P/E/G ratio of 6.42 and a beta of 1.09.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on OKTA. Needham & Company LLC reissued a “buy” rating and set a $115.00 price target on shares of Okta in a research report on Tuesday, March 4th. Jefferies Financial Group upped their target price on Okta from $90.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday, March 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 report on Wednesday, December 4th. Mizuho raised Okta from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $110.00 to $127.00 in a research report on Tuesday, March 4th. Finally, Truist Financial upped their target price on Okta from $92.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $114.39.

Okta Company 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.