Okta, Inc. (NASDAQ:OKTA) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 19.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 505,182 shares of the company's stock after selling 120,851 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.29% of Okta worth $39,808,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Frank Rimerman Advisors LLC grew its position in shares of 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 buying an additional 105 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Okta by 1.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company's stock worth $620,000 after buying an additional 136 shares during the period. Stephens Inc. AR grew its position in shares of Okta by 5.0% during the 4th 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. Mercer Global Advisors Inc. ADV grew its position in shares of Okta by 3.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,646 shares of the company's stock worth $445,000 after buying an additional 171 shares during the period. Finally, Great Lakes Advisors LLC grew its position in shares of 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 buying an additional 184 shares during the period. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Price Performance

Shares of OKTA stock traded down $0.19 during trading hours on Friday, hitting $123.72. 1,919,320 shares of the company's stock were exchanged, compared to its average volume of 2,797,421. The firm has a 50 day moving average of $109.24 and a two-hundred day moving average of $95.28. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $127.57. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm has a market cap of $21.48 billion, a P/E ratio of -353.49, a P/E/G ratio of 6.42 and a beta of 0.96.

Insider Activity at Okta

In other Okta news, CRO Jonathan James Addison sold 7,005 shares of the stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $101.19, for a total value of $708,835.95. Following the sale, the executive now owns 19,067 shares of the company's stock, valued at $1,929,389.73. This trade represents a 26.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Robert Kelleher sold 5,895 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $113.75, for a total value of $670,556.25. Following the completion of the sale, the insider now directly owns 9,828 shares in the company, valued at $1,117,935. This represents a 37.49% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 154,452 shares of company stock valued at $16,347,360. 5.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OKTA. Cantor Fitzgerald began coverage on Okta in a report on Monday, March 31st. They issued an "overweight" rating and a $130.00 target price on the stock. Barclays increased their target price on Okta from $105.00 to $115.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Oppenheimer increased their target price on Okta from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. Mizuho increased their target price on Okta from $127.00 to $135.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Finally, BMO Capital Markets increased their target price on Okta from $130.00 to $135.00 and gave the stock a "market perform" rating in a report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Okta presently has an average rating of "Moderate Buy" and an average target price of $120.17.

Okta Company 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.