Okta, Inc. (NASDAQ:OKTA) Shares Sold by Rakuten Securities Inc.

Rakuten Securities Inc. lowered its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 27.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,309 shares of the company’s stock after selling 506 shares during the period. Rakuten Securities Inc.’s holdings in Okta were worth $103,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Stephens Inc. AR boosted its position in Okta by 5.0% in the 4th quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock valued at $260,000 after buying an additional 157 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Okta by 2.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock worth $605,000 after acquiring an additional 180 shares in the last quarter. Great Lakes Advisors LLC raised its stake in Okta by 2.7% during the 4th quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company’s stock worth $557,000 after acquiring an additional 184 shares in the last quarter. CHICAGO TRUST Co NA raised its stake in Okta by 6.5% during the 4th quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock worth $246,000 after acquiring an additional 191 shares in the last quarter. Finally, Principal Securities Inc. raised its stake in Okta by 13.8% during the 4th quarter. Principal Securities Inc. now owns 1,686 shares of the company’s stock worth $133,000 after acquiring an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling

In related news, Director Jacques Frederic Kerrest sold 390,000 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total transaction of $33,965,100.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Larissa Schwartz sold 2,740 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $97.59, for a total transaction of $267,396.60. Following the completion of the sale, the insider now directly owns 22,125 shares in the company, valued at $2,159,178.75. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 979,482 shares of company stock valued at $88,072,216. Corporate insiders own 7.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on OKTA. Sanford C. Bernstein cut their price target on shares of Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 17th. Mizuho upgraded shares of Okta from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $110.00 to $127.00 in a research note on Tuesday, March 4th. Guggenheim reiterated a “buy” rating and set a $130.00 price target on shares of Okta in a research note on Wednesday, December 4th. Scotiabank lifted their price target on shares of Okta from $94.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 4th. Finally, DA Davidson upgraded shares of Okta from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $90.00 to $125.00 in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.39.

Okta Stock Up 1.7 %

OKTA stock opened at $108.78 on Thursday. The company has a market cap of $18.64 billion, a P/E ratio of -310.80, a P/E/G ratio of 6.42 and a beta of 1.09. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $116.96. The company’s 50-day moving average price is $93.39 and its 200 day moving average price is $83.09. 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 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.