Pictet Asset Management Holding SA Sells 189,038 Shares of Okta, Inc. (NASDAQ:OKTA)

Pictet Asset Management Holding SA lowered its stake in Okta, Inc. (NASDAQ:OKTA) by 17.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 901,474 shares of the company’s stock after selling 189,038 shares during the period. Pictet Asset Management Holding SA’s holdings in Okta were worth $71,036,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in OKTA. Frank Rimerman Advisors LLC increased its stake in shares of Okta by 2.4% in the fourth quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock worth $352,000 after buying an additional 105 shares during the period. Stephens Inc. AR increased its position in shares of Okta by 5.0% in the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock valued at $260,000 after acquiring an additional 157 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Okta by 2.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock valued at $605,000 after acquiring an additional 180 shares during the last quarter. Great Lakes Advisors LLC boosted its holdings in shares of Okta by 2.7% during the fourth quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company’s stock worth $557,000 after purchasing an additional 184 shares during the period. Finally, CHICAGO TRUST Co NA grew its stake in shares of Okta by 6.5% in the fourth quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock worth $246,000 after purchasing an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on OKTA. Barclays increased their price objective on Okta from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Scotiabank lifted their price target on shares of Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a report on Tuesday, March 4th. Citigroup boosted their price objective on shares of Okta from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 target price on shares of Okta in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Okta from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.29.

Okta Trading Down 2.9 %

Shares of NASDAQ:OKTA opened at $107.99 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $118.07. The company has a market cap of $18.75 billion, a P/E ratio of -308.54, a PEG ratio of 6.42 and a beta of 1.09. The stock’s fifty day moving average price is $100.33 and its 200-day moving average price is $85.78.

Insiders Place Their Bets

In other news, insider Larissa Schwartz sold 2,704 shares of the business’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 transaction 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 $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Robert Kelleher sold 5,895 shares of the firm’s 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 completion of the sale, the insider now owns 9,828 shares in the company, valued at $1,117,935. This represents a 37.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 763,901 shares of company stock valued at $70,880,205. 7.00% of the stock is 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.