Okta, Inc. (NASDAQ:OKTA) Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp decreased its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 26.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,346 shares of the company's stock after selling 6,873 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Okta were worth $1,524,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Bank of Jackson Hole Trust purchased a new position in shares of Okta during the fourth quarter worth approximately $25,000. TD Private Client Wealth LLC grew its stake in Okta by 3,507.7% in the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock worth $37,000 after purchasing an additional 456 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new position in Okta during the 4th quarter worth $43,000. Wingate Wealth Advisors Inc. bought a new stake in Okta during the 4th quarter valued at $44,000. Finally, Blue Trust Inc. raised its position in Okta by 103.8% during the 4th quarter. Blue Trust Inc. now owns 758 shares of the company's stock valued at $56,000 after purchasing an additional 386 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Okta

In related news, CRO Jonathan James Addison sold 7,005 shares of Okta stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $101.19, for a total transaction of $708,835.95. Following the completion of the transaction, the executive now directly owns 19,067 shares in the company, valued at approximately $1,929,389.73. This trade represents a 26.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 11,552 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value 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 position. The disclosure for this sale can be found here. Insiders sold 154,452 shares of company stock worth $16,347,360 over the last three months. Company insiders own 5.68% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OKTA. Oppenheimer raised their price target on Okta from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. The Goldman Sachs Group boosted their price target on shares of Okta from $107.00 to $123.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Barclays upped their price target 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. Robert W. Baird lifted their price objective on shares of Okta from $115.00 to $130.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. increased their target price on Okta from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Okta has an average rating of "Moderate Buy" and an average price target of $118.03.

Okta Stock Performance

Shares of OKTA stock traded down $2.71 during trading hours on Wednesday, hitting $122.84. The company's stock had a trading volume of 1,056,119 shares, compared to its average volume of 2,774,781. The stock has a market cap of $21.32 billion, a PE ratio of -350.96, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $127.57. The company has a 50 day moving average of $108.88 and a 200 day moving average of $94.74. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.

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.