Nicholas Company Inc. Has $14.33 Million Stake in Okta, Inc. (NASDAQ:OKTA)

Nicholas Company Inc. decreased its position in Okta, Inc. (NASDAQ:OKTA) by 8.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 181,884 shares of the company’s stock after selling 17,063 shares during the period. Nicholas Company Inc.’s holdings in Okta were worth $14,332,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of OKTA. Itau Unibanco Holding S.A. acquired a new position in Okta in the third quarter valued at $25,000. Bank of Jackson Hole Trust acquired a new position in Okta in the fourth quarter valued at $25,000. Legacy Investment Solutions LLC acquired a new position in Okta in the third quarter valued at $32,000. Modus Advisors LLC acquired a new position in Okta in the fourth quarter valued at $44,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in Okta in the fourth quarter valued at $44,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Up 5.6 %

Okta stock opened at $112.55 on Friday. The firm has a 50 day moving average price of $94.58 and a 200-day moving average price of $83.26. The company has a market capitalization of $19.29 billion, a P/E ratio of -321.57, a P/E/G ratio of 6.42 and a beta of 1.09. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $116.96. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Analyst Upgrades and Downgrades

OKTA has been the subject of several research analyst reports. Mizuho raised shares of Okta from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $110.00 to $127.00 in a research note on Tuesday, March 4th. Westpark Capital reaffirmed a “buy” rating and issued a $140.00 price target on shares of Okta in a research note on Friday, February 28th. JPMorgan Chase & Co. lifted their price target on shares of Okta from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Canaccord Genuity Group boosted their target price on shares of Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, Scotiabank boosted their target price on shares of Okta from $94.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $114.39.

Insider Buying and Selling

In related news, insider Larissa Schwartz sold 2,704 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. This trade represents a 9.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd Mckinnon sold 233,028 shares of the firm’s 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 979,482 shares of company stock valued at $88,072,216. Company insiders own 7.00% of the company’s stock.

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.