Aviva PLC Sells 22,874 Shares of Okta, Inc. (NASDAQ:OKTA)

Aviva PLC decreased its stake in Okta, Inc. (NASDAQ:OKTA) by 18.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,897 shares of the company’s stock after selling 22,874 shares during the period. Aviva PLC owned about 0.06% of Okta worth $7,714,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in OKTA. The Manufacturers Life Insurance Company raised its position in Okta by 3.3% during the third quarter. The Manufacturers Life Insurance Company now owns 7,737 shares of the company’s stock valued at $575,000 after purchasing an additional 250 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Okta by 56.1% during the 3rd quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock valued at $2,770,000 after buying an additional 13,387 shares in the last quarter. MML Investors Services LLC lifted its position in Okta by 43.2% in the 3rd quarter. MML Investors Services LLC now owns 33,333 shares of the company’s stock worth $2,478,000 after buying an additional 10,048 shares during the last quarter. Virtu Financial LLC purchased a new stake in Okta in the third quarter worth approximately $2,436,000. Finally, Sanctuary Advisors LLC grew its position in Okta by 125.8% during the third quarter. Sanctuary Advisors LLC now owns 11,244 shares of the company’s stock valued at $861,000 after acquiring an additional 6,265 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Price Performance

Shares of OKTA opened at $91.39 on Wednesday. The firm’s 50-day simple moving average is $101.52 and its two-hundred day simple moving average is $87.10. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $118.07. The stock has a market cap of $15.87 billion, a PE ratio of -261.11, a price-to-earnings-growth ratio of 6.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Insider Buying and Selling

In related news, insider Larissa Schwartz sold 2,704 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $89.58, for a total value of $242,224.32. Following the transaction, the insider now owns 23,311 shares in the company, valued at $2,088,199.38. The trade was a 10.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jacques Frederic Kerrest sold 3,306 shares of the firm’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 disclosure for this sale can be found here. Insiders have sold 761,197 shares of company stock worth $70,662,533 in the last 90 days. Insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

OKTA has been the subject of a number of research reports. Canaccord Genuity Group upped their price objective on shares of Okta from $94.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. Scotiabank lifted their price objective on Okta from $94.00 to $109.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 4th. Stephens assumed coverage on Okta in a report on Tuesday, April 1st. They set an “equal weight” rating and a $127.00 target price for the company. Oppenheimer lifted their price target on Okta from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. Finally, Truist Financial increased their price objective on Okta from $92.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.09.

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.