Mirae Asset Global Investments Co. Ltd. reduced its stake in Okta, Inc. (NASDAQ:OKTA – Free Report) by 10.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,402 shares of the company’s stock after selling 632 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Okta were worth $441,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of OKTA. Itau Unibanco Holding S.A. purchased a new stake in shares of Okta during the 3rd quarter worth $25,000. Blue Trust Inc. lifted its holdings in shares of Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after purchasing an additional 191 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Okta in the third quarter valued at approximately $32,000. Modus Advisors LLC acquired a new stake in Okta during the 4th quarter valued at $44,000. Finally, Planning Capital Management Corp purchased a new stake in Okta during the 3rd quarter worth about $49,000. 86.64% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
OKTA has been the topic of several analyst reports. Mizuho raised their price objective on Okta from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday. Sanford C. Bernstein reduced their target price on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a report on Tuesday, December 17th. Susquehanna increased their target price on shares of Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Truist Financial reissued a “hold” rating and issued a $92.00 price objective (up from $80.00) on shares of Okta in a research report on Wednesday, December 4th. Finally, Morgan Stanley upgraded Okta from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $92.00 to $97.00 in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Okta currently has a consensus rating of “Hold” and a consensus price target of $105.45.
Insider Buying and Selling
In related 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 transaction of $217,672.00. Following the sale, the insider now owns 24,462 shares in the company, valued at approximately $1,969,191. This represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jacques Frederic Kerrest sold 65,000 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $97.50, for a total transaction of $6,337,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 978,168 shares of company stock worth $84,758,269 over the last ninety days. Company insiders own 7.00% of the company’s stock.
Okta Stock Up 2.6 %
NASDAQ:OKTA opened at $98.26 on Thursday. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50. The stock’s fifty day simple moving average is $86.85 and its 200-day simple moving average is $82.19. 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 firm has a market capitalization of $16.84 billion, a P/E ratio of -280.74, a P/E/G ratio of 6.58 and a beta of 1.03.
Okta 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.
Featured Articles
- Five stocks we like better than Okta
- 3 Warren Buffett Stocks to Buy Now
- 3 Reasons Micron Stock Is Deeply Undervalued Right Now
- Find and Profitably Trade Stocks at 52-Week Lows
- Inflation Persists, But So Do Stock Opportunities: Rally On
- What Are Earnings Reports?
- Energy Transfer Fuels the Cloud: A Natural Gas Power Play
Want to see what other hedge funds are holding OKTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Okta, Inc. (NASDAQ:OKTA – Free Report).
Receive News & Ratings for Okta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta and related companies with MarketBeat.com's FREE daily email newsletter.