Okta, Inc. (NASDAQ:OKTA) Shares Sold by Graham Capital Management L.P.

Graham Capital Management L.P. lessened its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 79.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 11,301 shares of the company's stock after selling 43,961 shares during the period. Graham Capital Management L.P.'s holdings in Okta were worth $891,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in Okta in the 4th quarter worth $1,686,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Okta by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company's stock valued at $87,903,000 after purchasing an additional 46,064 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Okta by 46.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,833 shares of the company's stock valued at $854,000 after purchasing an additional 3,429 shares during the last quarter. Westpac Banking Corp boosted its holdings in shares of Okta by 2,574.9% during the 4th quarter. Westpac Banking Corp now owns 9,817 shares of the company's stock valued at $774,000 after purchasing an additional 9,450 shares during the last quarter. Finally, Forsta AP Fonden boosted its holdings in shares of Okta by 40.5% during the 4th quarter. Forsta AP Fonden now owns 73,900 shares of the company's stock valued at $5,823,000 after purchasing an additional 21,300 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company's stock.

Insider Activity at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 130,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total value of $13,650,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Jonathan James Addison sold 7,005 shares of the firm's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $101.19, for a total transaction of $708,835.95. Following the completion of the sale, the executive now owns 19,067 shares of the company's stock, valued at approximately $1,929,389.73. This trade represents a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 154,452 shares of company stock valued at $16,347,360 over the last ninety days. 7.00% of the stock is owned by company insiders.

Okta Stock Up 2.3%

OKTA stock traded up $2.91 during trading on Friday, hitting $127.30. 3,024,299 shares of the company's stock traded hands, compared to its average volume of 2,781,823. The firm has a market capitalization of $22.10 billion, a P/E ratio of -363.71, a PEG ratio of 6.42 and a beta of 0.96. The business has a fifty day simple moving average of $108.15 and a two-hundred day simple moving average of $93.85. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $127.57.

Analyst Ratings Changes

OKTA has been the subject of several research reports. DA Davidson increased their price objective on shares of Okta from $125.00 to $145.00 and gave the company a "buy" rating in a report on Thursday. Stifel Nicolaus increased their price objective on shares of Okta from $115.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Royal Bank of Canada increased their price objective on shares of Okta from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Truist Financial increased their price objective on shares of Okta from $92.00 to $100.00 and gave the company a "hold" rating in a report on Tuesday, March 4th. Finally, Citigroup increased their price objective on shares of Okta from $100.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Okta has an average rating of "Moderate Buy" and a consensus target price of $117.74.

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.