Pictet Asset Management Holding SA Sells 189,038 Shares of Okta, Inc. (NASDAQ:OKTA)

Pictet Asset Management Holding SA decreased its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 17.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 901,474 shares of the company’s stock after selling 189,038 shares during the period. Pictet Asset Management Holding SA owned about 0.53% of Okta worth $71,036,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Itau Unibanco Holding S.A. purchased a new position in Okta during the 3rd quarter worth $25,000. Bank of Jackson Hole Trust bought a new stake in Okta in the 4th quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new stake in Okta in the 3rd quarter valued at about $32,000. TD Private Client Wealth LLC lifted its position in shares of Okta by 3,507.7% during the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock worth $37,000 after buying an additional 456 shares in the last quarter. Finally, Modus Advisors LLC purchased a new position in shares of Okta in the 4th quarter worth approximately $44,000. Institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling

In other news, insider Larissa Schwartz sold 2,704 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $1,969,191. This represents a 9.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jacques Frederic Kerrest sold 3,306 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total value of $293,738.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 763,901 shares of company stock worth $70,880,205. Corporate insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on OKTA shares. JMP Securities reiterated a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. Susquehanna boosted their price target on shares of Okta from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. The Goldman Sachs Group raised their price objective on shares of Okta from $107.00 to $123.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. KeyCorp increased their target price on shares of Okta from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Finally, Canaccord Genuity Group lifted their price target on shares of Okta from $94.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $115.29.

Okta Price Performance

OKTA stock opened at $107.99 on Friday. The firm has a 50 day simple moving average of $100.33 and a two-hundred day simple moving average of $85.78. The stock has a market cap of $18.75 billion, a PE ratio of -308.54, a P/E/G ratio of 6.42 and a beta of 1.09. Okta, Inc. has a one year low of $70.56 and a one year high of $118.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

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.