Okta, Inc. (NASDAQ:OKTA) Shares Sold by Maytus Capital Management LLC

Maytus Capital Management LLC lessened its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 9.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,000 shares of the company's stock after selling 4,000 shares during the period. Maytus Capital Management LLC's holdings in Okta were worth $2,994,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in OKTA. Norges Bank acquired a new position in Okta in the fourth quarter valued at $234,992,000. Ameriprise Financial Inc. raised its position in Okta by 2,135.7% during the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock worth $150,845,000 after buying an additional 1,828,630 shares during the last quarter. Alyeska Investment Group L.P. boosted its holdings in Okta by 2,309.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company's stock valued at $139,693,000 after purchasing an additional 1,699,176 shares in the last quarter. Marshall Wace LLP grew its holdings in Okta by 35.5% during the fourth quarter. Marshall Wace LLP now owns 3,583,937 shares of the company's stock worth $282,414,000 after acquiring an additional 938,509 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Okta by 874.6% during the fourth quarter. AQR Capital Management LLC now owns 849,642 shares of the company's stock worth $66,952,000 after buying an additional 762,460 shares in the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Okta

In other news, CRO Jonathan James Addison sold 7,005 shares of the business's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $101.19, for a total value of $708,835.95. Following the completion of the sale, the executive now directly owns 19,067 shares in the company, valued at $1,929,389.73. The trade was a 26.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the sale, the insider now directly owns 22,125 shares in the company, valued at approximately $2,524,241.25. This trade represents a 34.30% decrease in their position. 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 in the last 90 days. Insiders own 7.00% of the company's stock.

Okta Trading Up 4.0%

OKTA stock opened at $124.17 on Tuesday. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $124.34. The firm's fifty day simple moving average is $106.88 and its two-hundred day simple moving average is $92.70. The stock has a market capitalization of $21.56 billion, a price-to-earnings ratio of -354.77, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Analyst Ratings Changes

Several research firms have weighed in on OKTA. Westpark Capital reissued a "buy" rating and set a $140.00 price target on shares of Okta in a research report on Friday, February 28th. UBS Group set a $135.00 target price on shares of Okta in a research note on Tuesday, March 4th. Royal Bank of Canada lifted their price objective on shares of Okta from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Morgan Stanley cut their target price on Okta from $125.00 to $123.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Barclays upped their price objective on Okta from $105.00 to $115.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $116.80.

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.

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