Nordea Investment Management AB Purchases 382,190 Shares of Okta, Inc. (NASDAQ:OKTA)

Nordea Investment Management AB increased its position in Okta, Inc. (NASDAQ:OKTA) by 1,150.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 415,418 shares of the company’s stock after purchasing an additional 382,190 shares during the quarter. Nordea Investment Management AB owned approximately 0.24% of Okta worth $33,146,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in Okta in the third quarter valued at approximately $25,000. Future Financial Wealth Managment LLC bought a new stake in Okta in the 3rd quarter valued at $26,000. Blue Trust Inc. lifted its holdings in Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after purchasing an additional 191 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in Okta during the third quarter worth $32,000. Finally, Modus Advisors LLC acquired a new position in shares of Okta in the fourth quarter valued at $44,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Okta

In other news, CRO Jonathan James Addison sold 9,850 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $77.63, for a total value of $764,655.50. Following the completion of the transaction, the executive now directly owns 14,601 shares of the company’s stock, valued at $1,133,475.63. This trade represents a 40.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 on Monday, December 30th. The shares were sold at an average price of $80.50, for a total value of $217,672.00. Following the sale, the insider now owns 24,462 shares in the company, valued at approximately $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 607,129 shares of company stock worth $47,937,652. 7.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on OKTA shares. Deutsche Bank Aktiengesellschaft downgraded shares of Okta from a “buy” rating to a “hold” rating and reduced their target price for the stock from $115.00 to $85.00 in a report on Tuesday, November 12th. Citigroup boosted their price objective on Okta from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their price target on Okta from $97.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Robert W. Baird upped their price objective on Okta from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Finally, Mizuho dropped their target price on Okta from $104.00 to $92.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Okta currently has a consensus rating of “Hold” and a consensus price target of $104.45.

Okta Price Performance

Shares of NASDAQ OKTA opened at $84.66 on Wednesday. The firm has a market cap of $14.51 billion, a price-to-earnings ratio of -241.89, a price-to-earnings-growth ratio of 8.61 and a beta of 1.00. The stock has a fifty day simple moving average of $79.38 and a two-hundred day simple moving average of $82.71. The company has a current ratio of 1.34, a quick 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 $114.50.

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.