Insight Holdings Group LLC Decreases Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Insight Holdings Group LLC decreased its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 79.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,050 shares of the company's stock after selling 176,800 shares during the period. Okta accounts for about 0.2% of Insight Holdings Group LLC's holdings, making the stock its 20th biggest position. Insight Holdings Group LLC's holdings in Okta were worth $3,708,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Okta during the fourth quarter worth $234,992,000. Marshall Wace LLP boosted its stake in Okta by 35.5% in the 4th quarter. Marshall Wace LLP now owns 3,583,937 shares of the company's stock worth $282,414,000 after purchasing an additional 938,509 shares during the period. Massachusetts Financial Services Co. MA grew its holdings 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 buying an additional 739,707 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Okta by 54.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,241,220 shares of the company's stock valued at $97,808,000 after buying an additional 440,171 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of 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 buying an additional 382,190 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Trading Down 0.3 %

Shares of Okta stock traded down $0.38 during mid-day trading on Wednesday, hitting $112.16. The stock had a trading volume of 25,549,403 shares, compared to its average volume of 2,710,232. The firm has a 50-day moving average of $103.31 and a two-hundred day moving average of $90.09. The firm has a market cap of $19.47 billion, a P/E ratio of -320.46, a price-to-earnings-growth ratio of 6.42 and a beta of 1.07. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $118.07.

Insider Buying and Selling at Okta

In related news, Director Jacques Frederic Kerrest sold 130,000 shares of Okta stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total value of $13,650,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brett Tighe sold 5,000 shares of the company's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $94.76, for a total value of $473,800.00. Following the sale, the chief financial officer now owns 97,533 shares in the company, valued at approximately $9,242,227.08. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 227,192 shares of company stock worth $23,426,056 over the last three months. Insiders own 7.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on OKTA shares. Barclays increased their target price on shares of Okta from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Westpark Capital reissued a "buy" rating and set a $140.00 price objective on shares of Okta in a research note on Friday, February 28th. Morgan Stanley decreased their target price on Okta from $125.00 to $123.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Oppenheimer lifted their price target on Okta from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Finally, Robert W. Baird upped their price objective on shares of Okta from $115.00 to $130.00 and gave the stock an "outperform" 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, nineteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Okta has a consensus rating of "Moderate Buy" and an average target price of $116.12.

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.