Legal & General Group Plc Lowers Position in Okta, Inc. (NASDAQ:OKTA)

Legal & General Group Plc decreased its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 35.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 859,613 shares of the company’s stock after selling 463,726 shares during the period. Legal & General Group Plc’s holdings in Okta were worth $67,738,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bank of Jackson Hole Trust bought a new stake in shares of Okta during the 4th quarter valued at about $25,000. TD Private Client Wealth LLC raised its stake in Okta by 3,507.7% in the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock valued at $37,000 after purchasing an additional 456 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in Okta in the fourth quarter valued at approximately $43,000. Wingate Wealth Advisors Inc. bought a new stake in Okta during the fourth quarter valued at approximately $44,000. Finally, Modus Advisors LLC purchased a new position in Okta in the 4th quarter worth approximately $44,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OKTA has been the topic of several research reports. Scotiabank raised their price objective on shares of Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 4th. Oppenheimer raised their price target on Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Jefferies Financial Group upped their price objective on Okta from $90.00 to $110.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. Robert W. Baird raised their price objective on Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Finally, DA Davidson upgraded Okta from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $90.00 to $125.00 in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $116.09.

Okta Trading Up 0.2 %

NASDAQ:OKTA opened at $101.82 on Friday. The company has a 50-day moving average price of $102.15 and a 200-day moving average price of $87.74. The stock has a market cap of $17.68 billion, a price-to-earnings ratio of -290.91, a P/E/G ratio of 6.42 and a beta of 1.07. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $118.07.

Insider Buying and Selling

In related news, insider Eric Robert Kelleher sold 5,895 shares of Okta stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $113.75, for a total transaction of $670,556.25. Following the sale, the insider now directly owns 9,828 shares in the company, valued at $1,117,935. The trade was a 37.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Larissa Schwartz sold 11,552 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the transaction, the insider now owns 22,125 shares of the company’s stock, valued at approximately $2,524,241.25. This trade represents a 34.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 761,197 shares of company stock valued at $70,662,533 over the last three months. Corporate 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.