Okta, Inc. (NASDAQ:OKTA) Holdings Decreased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp decreased its position in shares of Okta, Inc. (NASDAQ:OKTA) by 26.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,346 shares of the company’s stock after selling 6,873 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Okta were worth $1,524,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Bank of Jackson Hole Trust acquired a new stake in Okta during the fourth quarter valued at $25,000. TD Private Client Wealth LLC boosted its position in Okta by 3,507.7% during the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock valued at $37,000 after purchasing an additional 456 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in Okta during the fourth quarter valued at $43,000. Wingate Wealth Advisors Inc. acquired a new stake in Okta during the fourth quarter valued at $44,000. Finally, Smartleaf Asset Management LLC boosted its position in Okta by 40.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 732 shares of the company’s stock valued at $58,000 after purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Price Performance

Shares of OKTA stock opened at $124.39 on Friday. The stock has a 50 day moving average of $107.74 and a two-hundred day moving average of $93.48. 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 $125.48. The company has a market capitalization of $21.59 billion, a P/E ratio of -355.40, a P/E/G ratio of 6.42 and a beta of 0.96.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Scotiabank lifted their price objective on Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 4th. Loop Capital assumed coverage on Okta in a research report on Monday, May 5th. They set a “buy” rating and a $140.00 price objective for the company. The Goldman Sachs Group lifted their price objective on Okta from $107.00 to $123.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. UBS Group set a $135.00 price target on Okta in a research report on Tuesday, March 4th. Finally, BMO Capital Markets boosted their price target on Okta from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $117.74.

Insiders Place Their Bets

In related news, CRO Jonathan James Addison sold 7,005 shares of the firm’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $101.19, for a total transaction of $708,835.95. Following the completion of the transaction, the executive now owns 19,067 shares in the company, valued at $1,929,389.73. This trade represents a 26.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric Robert Kelleher sold 5,895 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $113.75, for a total value of $670,556.25. Following the transaction, the insider now owns 9,828 shares of the company’s stock, valued at $1,117,935. This trade represents a 37.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 154,452 shares of company stock worth $16,347,360. 7.00% of the stock is currently owned by company insiders.

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.