Okta, Inc. (NASDAQ:OKTA) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA cut its stake in Okta, Inc. (NASDAQ:OKTA) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,308,766 shares of the company’s stock after selling 32,550 shares during the quarter. Primecap Management Co. CA’s holdings in Okta were worth $103,131,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of OKTA. Itau Unibanco Holding S.A. purchased a new stake in shares of Okta in the third quarter valued at approximately $25,000. Bank of Jackson Hole Trust purchased a new stake in shares of Okta in the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Okta in the third quarter valued at approximately $32,000. Modus Advisors LLC purchased a new stake in shares of Okta in the fourth quarter valued at approximately $44,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Okta in the fourth quarter valued at approximately $44,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Price Performance

OKTA opened at $112.92 on Wednesday. The stock’s 50-day moving average price is $95.78 and its 200 day moving average price is $83.66. Okta, Inc. has a 12-month low of $70.56 and a 12-month 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 $19.60 billion, a price-to-earnings ratio of -322.63, a PEG ratio of 6.42 and a beta of 1.09.

Analyst Ratings Changes

A number of research firms have recently commented on OKTA. JMP Securities restated a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. Morgan Stanley set a $125.00 price target on Okta in a research report on Tuesday. Wells Fargo & Company boosted their price target on Okta from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Jefferies Financial Group boosted their price target on Okta from $90.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday, March 4th. Finally, Oppenheimer boosted their price target on Okta from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $115.29.

Insider Buying and Selling

In other Okta news, CEO Todd Mckinnon sold 233,028 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Eric Robert Kelleher sold 5,895 shares of the stock in a transaction dated Monday, March 17th. The shares were 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 directly 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 have sold 985,377 shares of company stock valued at $88,742,772. Corporate insiders own 7.00% of the company’s stock.

Okta Company 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.