Okta, Inc. (NASDAQ:OKTA) Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 574,877 shares of the company's stock after purchasing an additional 35,579 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.34% of Okta worth $45,304,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of OKTA. Norges Bank acquired a new position in Okta during the fourth quarter worth approximately $234,992,000. Ameriprise Financial Inc. increased its position in Okta by 2,135.7% during the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock worth $150,845,000 after purchasing an additional 1,828,630 shares during the last quarter. Alyeska Investment Group L.P. increased its position in Okta by 2,309.4% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company's stock worth $139,693,000 after purchasing an additional 1,699,176 shares during the last quarter. Marshall Wace LLP increased its position in Okta by 35.5% during the fourth 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 last quarter. Finally, AQR Capital Management LLC increased its position in shares of Okta by 874.6% in the fourth quarter. AQR Capital Management LLC now owns 849,642 shares of the company's stock worth $66,952,000 after acquiring an additional 762,460 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on OKTA shares. Royal Bank of Canada increased 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. Barclays increased their price objective on shares of Okta from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Wells Fargo & Company increased their price objective on shares of Okta from $95.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Robert W. Baird increased 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. Finally, Oppenheimer increased 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. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $117.74.

Insider Transactions at Okta

In related news, 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 sale, the executive now directly owns 19,067 shares in the company, valued at $1,929,389.73. This trade represents a 26.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the sale, the insider now owns 22,125 shares in the company, valued at approximately $2,524,241.25. This represents a 34.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 154,452 shares of company stock worth $16,347,360. 7.00% of the stock is currently owned by insiders.

Okta Stock Performance

Shares of Okta stock traded up $2.91 during trading hours on Friday, reaching $127.30. The company's stock had a trading volume of 3,024,299 shares, compared to its average volume of 2,781,823. The company's 50 day simple moving average is $108.15 and its 200 day simple moving average is $93.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta, Inc. has a one year low of $70.56 and a one year high of $127.57. The stock has a market cap of $22.10 billion, a P/E ratio of -363.71, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96.

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.