Okta, Inc. (NASDAQ:OKTA) Position Cut by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,088,593 shares of the company's stock after selling 5,920 shares during the quarter. Dimensional Fund Advisors LP owned about 0.64% of Okta worth $85,795,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in Okta during the 4th quarter worth approximately $234,992,000. Marshall Wace LLP raised its position in shares of Okta by 35.5% during the 4th quarter. Marshall Wace LLP now owns 3,583,937 shares of the company's stock worth $282,414,000 after buying an additional 938,509 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Okta by 570.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 869,362 shares of the company's stock valued at $68,506,000 after purchasing an additional 739,707 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Okta by 54.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,241,220 shares of the company's stock worth $97,808,000 after acquiring an additional 440,171 shares during the period. Finally, Nordea Investment Management AB lifted its stake in Okta by 1,150.2% during the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company's stock valued at $33,146,000 after purchasing an additional 382,190 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on OKTA. KeyCorp raised their price objective on Okta from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. DA Davidson upgraded shares of Okta from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $90.00 to $125.00 in a research note on Tuesday, March 4th. Stifel Nicolaus upped their target price on Okta from $115.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Westpark Capital reissued a "buy" rating and issued a $140.00 target price on shares of Okta in a report on Friday, February 28th. Finally, Morgan Stanley reduced their price target on shares of Okta from $125.00 to $123.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $116.12.

Okta Price Performance

OKTA stock traded up $1.04 during midday trading on Friday, reaching $112.90. The stock had a trading volume of 2,521,712 shares, compared to its average volume of 2,727,710. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $118.07. The company has a market cap of $19.60 billion, a price-to-earnings ratio of -322.57, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96. The company's fifty day simple moving average is $104.20 and its 200 day simple moving average is $90.56. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.

Insider Activity

In other Okta news, insider Larissa Schwartz sold 2,740 shares of Okta stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total value of $267,396.60. Following the transaction, the insider now directly owns 22,125 shares in the company, valued at approximately $2,159,178.75. This trade represents a 11.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jacques Frederic Kerrest sold 130,000 shares of Okta stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total transaction of $13,650,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 222,192 shares of company stock valued at $22,952,256. 7.00% of the stock is currently owned by corporate insiders.

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.