Okta, Inc. (NASDAQ:OKTA) Shares Sold by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. cut its holdings in shares of Okta, Inc. (NASDAQ:OKTAGet Rating) by 12.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,780 shares of the company’s stock after selling 2,570 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in Okta were worth $4,211,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. O Shaughnessy Asset Management LLC raised its stake in Okta by 75.0% during the third quarter. O Shaughnessy Asset Management LLC now owns 686 shares of the company’s stock worth $163,000 after purchasing an additional 294 shares during the period. US Bancorp DE increased its stake in Okta by 14.6% during the 3rd quarter. US Bancorp DE now owns 40,337 shares of the company’s stock worth $9,575,000 after buying an additional 5,151 shares during the period. BOKF NA purchased a new stake in Okta during the 3rd quarter worth approximately $1,801,000. Nissay Asset Management Corp Japan ADV increased its stake in Okta by 20.1% during the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 13,703 shares of the company’s stock worth $3,252,000 after buying an additional 2,289 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its holdings in Okta by 5.6% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 3,912 shares of the company’s stock worth $928,000 after acquiring an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 76.18% of the company’s stock.

In other news, CEO Todd Mckinnon sold 7,655 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $152.92, for a total transaction of $1,170,602.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ledger Susan St. sold 5,879 shares of Okta stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $152.92, for a total transaction of $899,016.68. The disclosure for this sale can be found here. Insiders have sold 19,537 shares of company stock valued at $2,984,147 in the last three months. Corporate insiders own 7.60% of the company’s stock.

Several research analysts have commented on the stock. Mizuho lowered their price target on shares of Okta from $225.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday. Wolfe Research lowered their price target on shares of Okta from $260.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, March 3rd. Raymond James cut shares of Okta from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 23rd. Royal Bank of Canada lowered their target price on shares of Okta from $300.00 to $260.00 and set an “outperform” rating for the company in a report on Monday, February 28th. Finally, Stifel Nicolaus lowered their target price on shares of Okta from $200.00 to $195.00 and set a “hold” rating for the company in a report on Monday, March 21st. Eight research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Okta presently has a consensus rating of “Buy” and a consensus target price of $218.04.

NASDAQ OKTA traded up $1.19 during mid-day trading on Friday, hitting $84.22. The company’s stock had a trading volume of 2,779,455 shares, compared to its average volume of 3,052,463. Okta, Inc. has a 52-week low of $77.16 and a 52-week high of $276.30. The stock’s fifty day simple moving average is $132.56 and its two-hundred day simple moving average is $181.43. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.45 and a quick ratio of 2.45. The firm has a market capitalization of $13.20 billion, a P/E ratio of -14.88 and a beta of 1.15.

Okta (NASDAQ:OKTAGet Rating) last posted its quarterly earnings results on Wednesday, March 2nd. The company reported ($1.20) EPS for the quarter, beating the consensus estimate of ($1.27) by $0.07. The firm had revenue of $383.02 million for the quarter, compared to analyst estimates of $359.46 million. Okta had a negative net margin of 65.25% and a negative return on equity of 13.61%. During the same quarter last year, the firm posted ($0.37) earnings per share. On average, equities analysts forecast that Okta, Inc. will post -5.37 earnings per share for the current fiscal year.

Okta Company Profile (Get Rating)

Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products and services, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access applications in the cloud or on-premise from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, Web applications, and data; Lifecycle Management that enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; Access Gateway that enables organizations to extend the Okta Identity Cloud from the cloud to their existing on-premise applications; and Advanced Server Access to secure cloud infrastructure.

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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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