Tredje AP fonden Buys 199,906 Shares of Okta, Inc. (NASDAQ:OKTA)

Tredje AP fonden boosted its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 757.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 226,295 shares of the company’s stock after acquiring an additional 199,906 shares during the period. Tredje AP fonden owned 0.13% of Okta worth $17,832,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vestcor Inc increased its stake in Okta by 573.9% during the 4th quarter. Vestcor Inc now owns 23,485 shares of the company’s stock worth $1,851,000 after acquiring an additional 20,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Okta by 58.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 568,797 shares of the company’s stock worth $44,821,000 after acquiring an additional 210,615 shares during the period. Great Lakes Advisors LLC increased its stake in Okta by 2.7% during the 4th quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company’s stock worth $557,000 after acquiring an additional 184 shares during the period. Truvestments Capital LLC increased its stake in Okta by 8.0% during the 4th quarter. Truvestments Capital LLC now owns 3,829 shares of the company’s stock worth $302,000 after acquiring an additional 282 shares during the period. Finally, Wealthfront Advisers LLC boosted its holdings in shares of Okta by 160.6% in the 4th quarter. Wealthfront Advisers LLC now owns 15,482 shares of the company’s stock valued at $1,220,000 after purchasing an additional 9,541 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Insider Transactions at Okta

In related news, Director Jacques Frederic Kerrest sold 3,306 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $88.85, for a total value of $293,738.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.50, for a total value of $217,672.00. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 979,482 shares of company stock valued at $88,072,216. Corporate insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on OKTA shares. Canaccord Genuity Group raised their target price on Okta from $94.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, March 4th. DA Davidson raised Okta from a “neutral” rating to a “buy” rating and raised their target price for the company from $90.00 to $125.00 in a report on Tuesday, March 4th. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. Robert W. Baird raised their target price on Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Finally, Sanford C. Bernstein reduced their target price on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.39.

Okta Stock Performance

OKTA stock opened at $108.78 on Thursday. The stock has a 50-day moving average price of $93.39 and a 200-day moving average price of $83.09. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $116.96. 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 firm has a market cap of $18.64 billion, a PE ratio of -310.80, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09.

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.