Nebula Research & Development LLC Trims Position in Okta, Inc. (NASDAQ:OKTA)

Nebula Research & Development LLC reduced its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 60.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,961 shares of the company's stock after selling 7,591 shares during the quarter. Nebula Research & Development LLC's holdings in Okta were worth $391,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of OKTA. Bank of Jackson Hole Trust acquired a new position in Okta during the fourth quarter valued at approximately $25,000. TD Private Client Wealth LLC raised its position in Okta by 3,507.7% during the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock worth $37,000 after acquiring an additional 456 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in Okta in the fourth quarter valued at $43,000. Wingate Wealth Advisors Inc. bought a new position in shares of Okta in the 4th quarter valued at about $44,000. Finally, Modus Advisors LLC acquired a new position in shares of Okta during the 4th quarter worth about $44,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on OKTA shares. Susquehanna lifted their target price on Okta from $95.00 to $105.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Morgan Stanley reduced their price target on Okta from $125.00 to $123.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. DA Davidson upgraded shares of Okta from a "neutral" rating to a "buy" rating and boosted their target price for the company from $90.00 to $125.00 in a research report on Tuesday, March 4th. JPMorgan Chase & Co. raised their price objective on Okta from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Finally, Citigroup upped their price target on shares of Okta from $100.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $116.12.

Okta Stock Performance

Shares of NASDAQ:OKTA traded up $1.04 during mid-day trading on Friday, reaching $112.90. The company had a trading volume of 2,521,712 shares, compared to its average volume of 2,735,017. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm has a market cap of $19.60 billion, a price-to-earnings ratio of -322.57, a PEG ratio of 6.42 and a beta of 0.96. Okta, Inc. has a one year low of $70.56 and a one year high of $118.07. The company's 50-day moving average price is $104.20 and its 200-day moving average price is $90.66.

Insider Buying and Selling at Okta

In other news, Director Jacques Frederic Kerrest sold 130,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total transaction of $13,650,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 2,740 shares of Okta stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total transaction of $267,396.60. Following the sale, the insider now directly owns 22,125 shares of the company's stock, valued at $2,159,178.75. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 222,192 shares of company stock valued at $22,952,256 over the last three months. 7.00% of the stock is currently owned by insiders.

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.