Okta, Inc. (NASDAQ:OKTA) Stock Position Reduced by Swiss National Bank

Swiss National Bank lessened its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 490,100 shares of the company's stock after selling 8,700 shares during the quarter. Swiss National Bank owned 0.30% of Okta worth $44,369,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of OKTA. Cerity Partners LLC boosted its position in shares of Okta by 6,192.3% during the fourth quarter. Cerity Partners LLC now owns 3,172,223 shares of the company's stock valued at $287,181,000 after buying an additional 3,121,809 shares during the last quarter. a16z Perennial Management L.P. bought a new stake in shares of Okta in the 4th quarter worth $54,125,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Okta by 79.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 938,097 shares of the company's stock valued at $76,464,000 after purchasing an additional 416,028 shares during the last quarter. Glenmede Trust Co. NA lifted its position in shares of Okta by 1,042.4% during the third 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 in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Okta by 2,721.2% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Stock Performance

Okta stock traded down $0.69 during midday trading on Tuesday, reaching $98.56. 1,081,202 shares of the company traded hands, compared to its average volume of 1,863,168. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.67 and a quick ratio of 1.67. Okta, Inc. has a 12 month low of $65.04 and a 12 month high of $114.50. The firm has a market capitalization of $16.50 billion, a price-to-earnings ratio of -45.74 and a beta of 0.98. The business has a 50 day moving average of $100.89 and a two-hundred day moving average of $86.73.

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

Insider Activity at Okta

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

Analysts Set New Price Targets

A number of analysts recently commented on the company. The Goldman Sachs Group increased their price target on Okta from $105.00 to $120.00 and gave the company a "buy" 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 target price on the stock in a research note on Thursday, February 29th. Truist Financial restated a "hold" rating and set a $105.00 price target (up previously from $85.00) on shares of Okta in a research report on Thursday, February 29th. Robert W. Baird lifted their price objective on shares of Okta from $90.00 to $108.00 and gave the stock an "outperform" rating in a research report on Thursday, February 29th. Finally, Canaccord Genuity Group increased their target price on shares of Okta from $85.00 to $95.00 and gave the company a "hold" 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, Okta has an average rating of "Hold" and a consensus target price of $100.39.

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.