UniSuper Management Pty Ltd Lowers Holdings in Okta, Inc. (NASDAQ:OKTA)

UniSuper Management Pty Ltd decreased its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 20.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,100 shares of the company’s stock after selling 800 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Okta were worth $244,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in shares of Okta during the 3rd quarter worth $25,000. Bank of Jackson Hole Trust acquired a new position in Okta in the fourth quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new position in Okta during the third quarter worth about $32,000. TD Private Client Wealth LLC boosted its stake in Okta by 3,507.7% during the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock worth $37,000 after buying an additional 456 shares during the period. Finally, Modus Advisors LLC acquired a new stake in shares of Okta during the fourth quarter valued at about $44,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insiders Place Their Bets

In other Okta news, insider Eric Robert Kelleher sold 5,895 shares of the business’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 value of $670,556.25. Following the completion of the sale, the insider now owns 9,828 shares in the company, valued at approximately $1,117,935. The trade was a 37.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brett Tighe sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total value of $445,000.00. Following the completion of the sale, the chief financial officer now directly owns 112,533 shares of the company’s stock, valued at $10,015,437. The trade was a 4.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 761,197 shares of company stock valued at $70,662,533. 7.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Okta from $107.00 to $123.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Truist Financial upped their price target on Okta from $92.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. Barclays lifted their price objective on Okta from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Susquehanna increased their target price on Okta from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Finally, UBS Group set a $135.00 target price on Okta in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, Okta currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.75.

Okta Trading Down 2.6 %

NASDAQ OKTA opened at $105.22 on Tuesday. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $118.07. The company has a market capitalization of $18.27 billion, a price-to-earnings ratio of -300.63, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The firm’s fifty day moving average price is $100.69 and its 200 day moving average price is $86.10.

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.