Okta, Inc. (NASDAQ:OKTA) Position Lessened by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd lowered its position in Okta, Inc. (NASDAQ:OKTA) by 52.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,815 shares of the company’s stock after selling 14,400 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Okta were worth $1,010,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of OKTA. SBI Securities Co. Ltd. acquired a new stake in shares of Okta during the 4th quarter valued at about $1,686,000. Stifel Financial Corp lifted its stake in Okta by 56.1% in the third quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock valued at $2,770,000 after acquiring an additional 13,387 shares during the last quarter. Nordea Investment Management AB grew its position in Okta by 1,150.2% in the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock worth $33,146,000 after acquiring an additional 382,190 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Okta by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company’s stock worth $87,903,000 after purchasing an additional 46,064 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its holdings in shares of Okta by 125.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 11,244 shares of the company’s stock valued at $861,000 after purchasing an additional 6,265 shares in the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Trading Down 8.3 %

Shares of OKTA opened at $91.93 on Friday. The stock has a 50 day simple moving average of $101.64 and a 200-day simple moving average of $86.75. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The stock has a market cap of $15.96 billion, a PE ratio of -262.66, a PEG ratio of 6.42 and a beta of 1.06. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $118.07.

Insiders Place Their Bets

In other Okta news, Director Jacques Frederic Kerrest sold 3,306 shares of the company’s 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 legal filing with the SEC, which can be accessed through this link. Also, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $89.58, for a total transaction of $242,224.32. Following the completion of the transaction, the insider now owns 23,311 shares of the company’s stock, valued at $2,088,199.38. This trade represents a 10.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 761,197 shares of company stock worth $70,662,533 over the last three months. 7.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Citigroup increased their target price on shares of Okta from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. BTIG Research reissued a “buy” rating on shares of Okta in a research note on Tuesday, March 4th. Oppenheimer upped their target price on Okta from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Stifel Nicolaus lifted their price target on shares of Okta from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Finally, Mizuho raised shares of Okta from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $110.00 to $127.00 in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $116.09.

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.