Citizens Financial Group Inc. RI Has $1.15 Million Stock Position in Okta, Inc. (NASDAQ:OKTA)

Citizens Financial Group Inc. RI decreased its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 15.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,618 shares of the company’s stock after selling 2,719 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Okta were worth $1,152,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of OKTA. Itau Unibanco Holding S.A. acquired a new position in shares of Okta during the 3rd quarter worth $25,000. Bank of Jackson Hole Trust acquired a new position in shares of Okta during the 4th quarter worth $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Okta during the 3rd quarter worth $32,000. Modus Advisors LLC acquired a new position in shares of Okta during the 4th quarter worth $44,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Okta in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Activity at Okta

In related news, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction dated 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. This trade represents a 9.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd Mckinnon sold 233,028 shares of Okta stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $82.31, for a total transaction of $19,180,534.68. The disclosure for this sale can be found here. Insiders sold 979,482 shares of company stock valued at $88,072,216 in the last ninety days. Insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

OKTA has been the topic of a number of research analyst reports. Royal Bank of Canada raised their target price on shares of Okta from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. raised their target price on shares of Okta from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. UBS Group set a $135.00 target price on shares of Okta in a research note on Tuesday, March 4th. Westpark Capital reiterated a “buy” rating and issued a $140.00 target price on shares of Okta in a research note on Friday, February 28th. Finally, Morgan Stanley upgraded shares of Okta from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $92.00 to $97.00 in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $114.39.

Okta Trading Up 1.7 %

Shares of OKTA stock opened at $108.78 on Thursday. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $116.96. The company has a market capitalization of $18.64 billion, a P/E ratio of -310.80, a P/E/G ratio of 6.42 and a beta of 1.09. The firm has a 50-day moving average price of $93.39 and a 200 day moving average price of $83.09. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

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.