Daiwa Securities Group Inc. Sells 17,337 Shares of Okta, Inc. (NASDAQ:OKTA)

Daiwa Securities Group Inc. lowered its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 56.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,614 shares of the company's stock after selling 17,337 shares during the period. Daiwa Securities Group Inc.'s holdings in Okta were worth $1,232,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of OKTA. Cerity Partners LLC grew its position in Okta by 6,192.3% during the 4th quarter. Cerity Partners LLC now owns 3,172,223 shares of the company's stock worth $287,181,000 after acquiring an additional 3,121,809 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Okta by 79.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 938,097 shares of the company's stock worth $76,464,000 after buying an additional 416,028 shares during the last quarter. Glenmede Trust Co. NA lifted its stake in shares of Okta by 1,042.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 210,981 shares of the company's stock valued at $17,197,000 after purchasing an additional 192,513 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Okta by 2,721.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 176,071 shares of the company's stock valued at $15,940,000 after purchasing an additional 169,830 shares during the period. Finally, Alua Capital Management LP purchased a new position in shares of Okta in the 3rd quarter valued at approximately $12,775,000. Hedge funds and other institutional investors own 86.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OKTA. Canaccord Genuity Group raised their target price on Okta from $85.00 to $95.00 and gave the company a "hold" rating in a research note on Thursday, February 29th. BMO Capital Markets lifted their target price on Okta from $80.00 to $110.00 and gave the stock a "market perform" rating in a report on Thursday, February 29th. Truist Financial reissued a "hold" rating and issued a $105.00 target price (up previously from $85.00) on shares of Okta in a report on Thursday, February 29th. Citigroup lifted their price objective on Okta from $75.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, January 10th. Finally, Westpark Capital raised Okta from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a report on Thursday, February 29th. Twenty analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Okta currently has a consensus rating of "Hold" and a consensus target price of $100.39.

Okta Trading Down 0.6 %

OKTA stock traded down $0.61 during midday trading on Wednesday, reaching $93.76. 1,302,378 shares of the company were exchanged, compared to its average volume of 1,951,591. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $99.32 and a two-hundred day moving average price of $86.15. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50.

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

Insider Transactions at Okta

In other Okta news, CAO Shibu Ninan sold 4,279 shares of the firm's stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total transaction of $445,615.06. Following the completion of the transaction, the chief accounting officer now owns 4,111 shares in the company, valued at approximately $428,119.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Okta news, CAO Shibu Ninan sold 4,279 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total transaction of $445,615.06. Following the completion of the transaction, the chief accounting officer now owns 4,111 shares of the company's stock, valued at $428,119.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shellye L. Archambeau sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $106.96, for a total transaction of $534,800.00. Following the completion of the sale, 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. Over the last three months, insiders have sold 11,779 shares of company stock valued at $1,205,990. Insiders own 7.36% of the company's stock.

About Okta

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.