Stanley Laman Group Ltd. Has $4.58 Million Holdings in Okta, Inc. (NASDAQ:OKTA)

Stanley Laman Group Ltd. cut its stake in Okta, Inc. (NASDAQ:OKTA) by 7.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 58,095 shares of the company’s stock after selling 4,407 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Okta were worth $4,578,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of OKTA. Point72 Asset Management L.P. acquired a new position in shares of Okta in the 3rd quarter worth approximately $49,373,000. Nordea Investment Management AB raised its holdings in shares of Okta by 1,150.2% in the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock worth $33,146,000 after buying an additional 382,190 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Okta by 138.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock worth $43,721,000 after buying an additional 322,201 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Okta by 232.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock worth $29,479,000 after buying an additional 277,084 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Okta by 105.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock worth $26,627,000 after buying an additional 184,107 shares in the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OKTA. Canaccord Genuity Group raised their price target on Okta from $82.00 to $94.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. BMO Capital Markets increased their price objective on Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Barclays raised their price target on Okta from $81.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Westpark Capital restated a “buy” rating and issued a $140.00 price target on shares of Okta in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $101.00 target price on shares of Okta in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $105.45.

Insider Transactions at Okta

In related news, CEO Todd Mckinnon sold 233,028 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $82.31, for a total transaction of $19,180,534.68. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $80.50, for a total value of $217,672.00. Following the sale, the insider now directly owns 24,462 shares in the company, valued at $1,969,191. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 978,168 shares of company stock worth $84,758,269 over the last quarter. Company insiders own 7.00% of the company’s stock.

Okta Trading Up 2.6 %

Shares of NASDAQ:OKTA opened at $98.26 on Thursday. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50. The business has a 50 day moving average of $86.85 and a 200-day moving average of $82.19. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

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.