Okta, Inc. (NASDAQ:OKTA) Shares Sold by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina reduced its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,182 shares of the company’s stock after selling 560 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Okta were worth $5,609,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Okta during the fourth quarter worth about $234,992,000. Geode Capital Management LLC increased its position in Okta by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company’s stock worth $212,385,000 after buying an additional 135,110 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Okta by 54.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,241,220 shares of the company’s stock valued at $97,808,000 after buying an additional 440,171 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Okta by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company’s stock valued at $87,903,000 after buying an additional 46,064 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Okta by 570.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 869,362 shares of the company’s stock valued at $68,506,000 after acquiring an additional 739,707 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on OKTA. Jefferies Financial Group upped their price target on shares of Okta from $90.00 to $110.00 and gave the company a “hold” rating in a research report on Tuesday, March 4th. Barclays upped their target price on shares of Okta from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Cantor Fitzgerald initiated coverage on Okta in a report on Monday, March 31st. They set an “overweight” rating and a $130.00 price target on the stock. The Goldman Sachs Group upped their price objective on Okta from $107.00 to $123.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Finally, Morgan Stanley set a $125.00 target price on Okta in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Okta presently has an average rating of “Moderate Buy” and a consensus target price of $116.09.

Okta Price Performance

Shares of NASDAQ OKTA opened at $100.88 on Tuesday. 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 $17.51 billion, a price-to-earnings ratio of -288.23, a PEG ratio of 6.42 and a beta of 1.07. The company’s 50-day moving average price is $102.22 and its 200 day moving average price is $88.03. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $118.07.

Insider Activity

In other news, CFO Brett Tighe sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total value of $445,000.00. Following the completion of the transaction, the chief financial officer now directly owns 112,533 shares of the company’s stock, valued at $10,015,437. The trade was a 4.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $89.58, for a total value of $242,224.32. Following the sale, the insider now directly owns 23,311 shares in the company, valued at approximately $2,088,199.38. The trade was a 10.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 761,197 shares of company stock worth $70,662,533 over the last ninety days. 7.00% of the stock is currently owned by insiders.

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.