Nomura Asset Management Co. Ltd. Decreases Position in Okta, Inc. (NASDAQ:OKTA)

Nomura Asset Management Co. Ltd. lowered its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 20.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,544 shares of the company’s stock after selling 27,065 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.06% of Okta worth $8,553,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of OKTA. Frank Rimerman Advisors LLC increased its holdings in Okta by 2.4% during the 4th quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock worth $352,000 after purchasing an additional 105 shares during the period. Stephens Inc. AR increased its stake in shares of Okta by 5.0% during the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock worth $260,000 after buying an additional 157 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Okta by 2.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock valued at $605,000 after acquiring an additional 180 shares in the last quarter. Great Lakes Advisors LLC grew its holdings 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. Finally, CHICAGO TRUST Co NA grew its holdings 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. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Brett Tighe sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00. Following the sale, the chief financial officer now owns 112,533 shares of the company’s stock, valued at $10,015,437. The trade was a 4.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jacques Frederic Kerrest sold 3,306 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was 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. In the last ninety days, insiders have sold 761,197 shares of company stock worth $70,662,533. Corporate insiders own 7.00% of the company’s stock.

Okta Stock Down 2.6 %

Okta stock opened at $105.22 on Tuesday. The stock’s 50 day moving average price is $100.69 and its 200 day moving average price is $86.10. The company has a market cap of $18.27 billion, a PE ratio of -300.63, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. 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 1-year low of $70.56 and a 1-year high of $118.07.

Analyst Ratings Changes

Several research firms have recently issued reports on OKTA. Oppenheimer lifted their price objective on shares of Okta from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Canaccord Genuity Group upped their price objective on Okta from $94.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, March 4th. UBS Group set a $135.00 target price on Okta in a research report on Tuesday, March 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price target on shares of Okta in a report on Tuesday, March 4th. Finally, Canaccord Genuity Group raised their price objective on shares of Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $115.75.

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.