Sumitomo Mitsui Trust Holdings Inc. Has $33.05 Million Stake in Okta, Inc. (NASDAQ:OKTA)

Sumitomo Mitsui Trust Holdings Inc. reduced its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 365,027 shares of the company's stock after selling 13,909 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.22% of Okta worth $33,046,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NBC Securities Inc. bought a new position in shares of Okta during the third quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd bought a new position in shares of Okta during the third quarter valued at approximately $39,000. First Manhattan CO. LLC. grew its holdings in shares of Okta by 365.5% during the first quarter. First Manhattan CO. LLC. now owns 540 shares of the company's stock valued at $47,000 after purchasing an additional 424 shares during the last quarter. Coppell Advisory Solutions LLC bought a new position in shares of Okta during the second quarter valued at approximately $46,000. Finally, Resurgent Financial Advisors LLC bought a new position in shares of Okta during the fourth quarter valued at approximately $47,000. 86.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OKTA has been the subject of several analyst reports. Sanford C. Bernstein boosted their price objective on Okta from $84.00 to $114.00 and gave the stock a "market perform" rating in a research report on Thursday, February 29th. BMO Capital Markets boosted their price objective on Okta from $80.00 to $110.00 and gave the stock a "market perform" rating in a research report on Thursday, February 29th. Westpark Capital upgraded Okta from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a research report on Thursday, February 29th. Canaccord Genuity Group boosted their price objective on Okta from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Thursday, February 29th. Finally, Evercore ISI boosted their price objective on Okta from $70.00 to $102.00 and gave the stock an "in-line" rating in a research report on Thursday, February 29th. Twenty equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $100.39.

Insider Buying and Selling at Okta

In other news, CAO Shibu Ninan sold 2,500 shares of the company's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $90.23, for a total value of $225,575.00. Following the transaction, the chief accounting officer now directly owns 6,539 shares of the company's stock, valued at $590,013.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Shibu Ninan sold 2,500 shares of the company's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $90.23, for a total value of $225,575.00. Following the transaction, the chief accounting officer now directly owns 6,539 shares of the company's stock, valued at $590,013.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shellye L. Archambeau sold 5,000 shares of the company's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the completion of the transaction, the director now directly owns 6,042 shares in the company, valued at $646,252.32. The disclosure for this sale can be found here. Insiders have sold a total of 11,779 shares of company stock valued at $1,205,990 in the last three months. 7.36% of the stock is currently owned by company insiders.

Okta Price Performance

Shares of NASDAQ OKTA traded down $1.68 during trading on Friday, hitting $92.03. The company had a trading volume of 1,104,144 shares, compared to its average volume of 1,118,133. The company has a market cap of $15.41 billion, a P/E ratio of -42.41 and a beta of 1.00. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50. The business's 50-day moving average is $98.96 and its 200 day moving average is $85.94. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 1.67.

Okta (NASDAQ:OKTA - Get Free Report) last announced its earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.35. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. The company had revenue of $605.00 million for the quarter, compared to the consensus estimate of $586.25 million. Equities research analysts predict that Okta, Inc. will post -1.51 earnings per share for the current fiscal year.

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.