Deutsche Bank AG Cuts Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Deutsche Bank AG lowered its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 12.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 218,112 shares of the company's stock after selling 31,673 shares during the quarter. Deutsche Bank AG owned approximately 0.13% of Okta worth $17,187,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in OKTA. Bank of Jackson Hole Trust bought a new position in shares of Okta in the fourth quarter worth about $25,000. TD Private Client Wealth LLC lifted its holdings in shares of Okta by 3,507.7% in the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock worth $37,000 after acquiring an additional 456 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of Okta in the fourth quarter worth about $43,000. Wingate Wealth Advisors Inc. bought a new position in shares of Okta in the fourth quarter worth about $44,000. Finally, Blue Trust Inc. lifted its holdings in shares of Okta by 103.8% in the fourth quarter. Blue Trust Inc. now owns 758 shares of the company's stock worth $56,000 after acquiring an additional 386 shares during the last quarter. Institutional investors own 86.64% of the company's stock.

Okta Stock Performance

Shares of NASDAQ OKTA traded up $2.91 during mid-day trading on Friday, reaching $127.30. 3,024,299 shares of the company's stock were exchanged, compared to its average volume of 2,782,041. The firm has a market capitalization of $22.10 billion, a price-to-earnings ratio of -363.71, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a 50-day moving average price of $108.15 and a two-hundred day moving average price of $94.00.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OKTA. Canaccord Genuity Group increased their target price on shares of Okta from $94.00 to $100.00 and gave the stock a "hold" rating in a report on Tuesday, March 4th. BMO Capital Markets raised their price target on shares of Okta from $130.00 to $135.00 and gave the stock a "market perform" rating in a report on Wednesday. Royal Bank of Canada raised their price objective on shares of Okta from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. DA Davidson raised their price objective on shares of Okta from $125.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Jefferies Financial Group lifted their price target on shares of Okta from $90.00 to $110.00 and gave the company a "hold" rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Okta presently has a consensus rating of "Moderate Buy" and a consensus target price of $117.74.

Insider Transactions at Okta

In other Okta news, insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the transaction, the insider now owns 22,125 shares of the company's stock, valued at $2,524,241.25. The trade was a 34.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Jonathan James Addison sold 7,005 shares of Okta stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $101.19, for a total value of $708,835.95. Following the transaction, the executive now directly owns 19,067 shares of the company's stock, valued at $1,929,389.73. The trade was a 26.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 154,452 shares of company stock worth $16,347,360 in the last ninety days. Company insiders own 5.68% of the company's stock.

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.