Corient Private Wealth LLC Reduces Stake in Okta, Inc. (NASDAQ:OKTA)

Corient Private Wealth LLC lessened its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 12.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,147 shares of the company’s stock after selling 1,378 shares during the period. Corient Private Wealth LLC’s holdings in Okta were worth $800,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of OKTA. Paloma Partners Management Co purchased a new position in Okta during the third quarter worth about $969,000. SBI Securities Co. Ltd. acquired a new stake in shares of Okta during the 4th quarter worth approximately $1,686,000. Stifel Financial Corp raised its position in shares of Okta by 56.1% during the 3rd quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock valued at $2,770,000 after buying an additional 13,387 shares during the period. Nordea Investment Management AB lifted its holdings in Okta by 1,150.2% in the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after acquiring an additional 382,190 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Okta by 7.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,547 shares of the company’s stock worth $8,813,000 after acquiring an additional 8,239 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Morgan Stanley set a $125.00 price target on Okta in a research note on Tuesday, March 18th. Canaccord Genuity Group increased their target price on shares of Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Jefferies Financial Group boosted their price target on shares of Okta from $90.00 to $110.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. Canaccord Genuity Group increased their price objective on shares of Okta from $94.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, March 4th. Finally, Oppenheimer boosted their target price on Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Okta has an average rating of “Moderate Buy” and an average target price of $115.29.

Okta Trading Down 2.5 %

NASDAQ:OKTA opened at $111.20 on Friday. The company has a market capitalization of $19.30 billion, a PE ratio of -317.71, a P/E/G ratio of 6.42 and a beta of 1.09. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $118.07. The stock’s 50 day moving average price is $99.92 and its 200 day moving average price is $85.43. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Insider Transactions at Okta

In other news, Director Jacques Frederic Kerrest sold 3,306 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total transaction of $293,738.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.50, for a total value of $217,672.00. Following the completion of the transaction, the insider now owns 24,462 shares in the company, valued at $1,969,191. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 763,901 shares of company stock worth $70,880,205. Insiders own 7.00% of the company’s stock.

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.