Okta, Inc. (NASDAQ:OKTA) Position Trimmed by Deer Management Co. LLC

Deer Management Co. LLC lowered its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 52.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 448,740 shares of the company's stock after selling 495,123 shares during the quarter. Okta comprises 2.8% of Deer Management Co. LLC's portfolio, making the stock its 4th biggest holding. Deer Management Co. LLC owned 0.26% of Okta worth $35,361,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in OKTA. Freestone Grove Partners LP bought a new position in Okta in the 4th quarter worth $22,864,000. Triumph Capital Management lifted its position in shares of Okta by 13.1% in the fourth quarter. Triumph Capital Management now owns 5,791 shares of the company's stock valued at $456,000 after acquiring an additional 673 shares in the last quarter. Westerly Capital Management LLC bought a new position in shares of Okta in the fourth quarter worth about $4,570,000. Comerica Bank grew its position in shares of Okta by 11,019.6% during the fourth quarter. Comerica Bank now owns 177,358 shares of the company's stock worth $13,976,000 after purchasing an additional 175,763 shares in the last quarter. Finally, Utah Retirement Systems raised its stake in Okta by 1.8% during the 4th quarter. Utah Retirement Systems now owns 28,442 shares of the company's stock valued at $2,241,000 after purchasing an additional 500 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Larissa Schwartz sold 11,552 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the transaction, the insider now owns 22,125 shares in the company, valued at $2,524,241.25. The trade was a 34.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 sold 222,192 shares of company stock valued at $22,952,256 over the last 90 days. Corporate insiders own 7.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OKTA. Oppenheimer increased their price objective on shares of Okta from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. BTIG Research reiterated a "buy" rating on shares of Okta in a report on Tuesday, March 4th. UBS Group set a $135.00 price objective on shares of Okta in a report on Tuesday, March 4th. Westpark Capital restated a "buy" rating and set a $140.00 price objective on shares of Okta in a research report on Friday, February 28th. Finally, Robert W. Baird boosted their target price on Okta from $115.00 to $130.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Okta presently has a consensus rating of "Moderate Buy" and an average target price of $116.12.

Okta Stock Up 0.9 %

Shares of NASDAQ:OKTA traded up $1.04 during trading hours on Friday, hitting $112.90. The company's stock had a trading volume of 2,521,712 shares, compared to its average volume of 2,735,017. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The firm's fifty day moving average price is $104.20 and its 200 day moving average price is $90.66. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $118.07. The company has a market capitalization of $19.60 billion, a price-to-earnings ratio of -322.57, a P/E/G ratio of 6.42 and a beta of 0.96.

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.