Okta, Inc. (NASDAQ:OKTA) Shares Acquired by Korea Investment CORP

Korea Investment CORP boosted its position in Okta, Inc. (NASDAQ:OKTA) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 160,216 shares of the company’s stock after acquiring an additional 3,917 shares during the quarter. Korea Investment CORP owned 0.09% of Okta worth $12,625,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new stake in shares of Okta in the 3rd quarter valued at approximately $49,373,000. Nordea Investment Management AB increased its holdings in Okta by 1,150.2% in the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after buying an additional 382,190 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Okta by 138.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock valued at $43,721,000 after buying an additional 322,201 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Okta by 58.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 568,797 shares of the company’s stock valued at $44,821,000 after buying an additional 210,615 shares in the last quarter. Finally, Tredje AP fonden lifted its holdings in Okta by 757.5% during the 4th quarter. Tredje AP fonden now owns 226,295 shares of the company’s stock worth $17,832,000 after buying an additional 199,906 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insiders Place Their Bets

In other Okta news, Director Jacques Frederic Kerrest sold 3,306 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total transaction of $293,738.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $89.58, for a total transaction of $242,224.32. Following the sale, the insider now owns 23,311 shares of the company’s stock, valued at approximately $2,088,199.38. The trade was a 10.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 761,197 shares of company stock worth $70,662,533. 7.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Citigroup upped their price target on Okta from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Guggenheim restated a “buy” rating and set a $130.00 price objective on shares of Okta in a research report on Wednesday, December 4th. Royal Bank of Canada increased their target price on shares of Okta from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. JMP Securities restated a “market perform” rating on shares of Okta in a research note on Wednesday, December 4th. Finally, UBS Group set a $135.00 price objective on Okta in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Okta currently has an average rating of “Moderate Buy” and an average target price of $115.29.

Okta Stock Down 2.9 %

OKTA opened at $107.99 on Monday. 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, Inc. has a 12 month low of $70.56 and a 12 month high of $118.07. The stock has a market capitalization of $18.75 billion, a P/E ratio of -308.54, a P/E/G ratio of 6.42 and a beta of 1.09. The business has a 50 day simple moving average of $100.33 and a 200-day simple moving average of $85.87.

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.