Price T Rowe Associates Inc. MD Lowers Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Price T Rowe Associates Inc. MD decreased its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 4.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 109,561 shares of the company's stock after selling 4,876 shares during the period. Price T Rowe Associates Inc. MD owned 0.06% of Okta worth $8,634,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Bank of Jackson Hole Trust purchased a new stake in Okta in the fourth quarter valued at approximately $25,000. TD Private Client Wealth LLC lifted its holdings in shares of Okta by 3,507.7% in the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock worth $37,000 after acquiring an additional 456 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Okta in the 4th quarter valued at $43,000. Modus Advisors LLC purchased a new position in Okta in the 4th quarter worth $44,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in Okta in the 4th quarter worth $44,000. Institutional investors own 86.64% of the company's stock.

Analyst Upgrades and Downgrades

OKTA has been the topic of a number of recent research reports. UBS Group set a $135.00 price objective on Okta in a research note on Tuesday, March 4th. Cantor Fitzgerald assumed coverage on Okta in a research note on Monday, March 31st. They issued an "overweight" rating and a $130.00 price target on the stock. Susquehanna increased their price objective on Okta from $95.00 to $105.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Roth Capital initiated coverage on shares of Okta in a report on Wednesday, April 23rd. They set a "buy" rating and a $119.00 price target for the company. Finally, Royal Bank of Canada raised their price target on shares of Okta from $115.00 to $120.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. One research 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 company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $116.80.

Okta Stock Performance

OKTA traded up $1.36 during mid-day trading on Tuesday, reaching $117.07. 2,773,251 shares of the company traded hands, compared to its average volume of 2,741,225. The company's fifty day moving average price is $105.28 and its 200-day moving average price is $91.24. The stock has a market capitalization of $20.32 billion, a P/E ratio of -334.49, a P/E/G 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. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $118.11.

Insider Buying and Selling at Okta

In other news, insider Eric Robert Kelleher sold 5,895 shares of Okta stock in a transaction on Monday, March 17th. The shares were sold at an average price of $113.75, for a total transaction of $670,556.25. Following the transaction, the insider now owns 9,828 shares in the company, valued at $1,117,935. This trade represents a 37.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Larissa Schwartz sold 11,552 shares of the company's stock in a transaction 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 of the company's stock, valued at $2,524,241.25. This trade represents a 34.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 222,192 shares of company stock valued at $22,952,256. 7.00% of the stock is owned by company insiders.

About Okta

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.