Okta, Inc. (NASDAQ:OKTA) Shares Sold by Harber Asset Management LLC

Harber Asset Management LLC reduced its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 11.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 184,333 shares of the company’s stock after selling 24,233 shares during the period. Okta accounts for approximately 4.4% of Harber Asset Management LLC’s investment portfolio, making the stock its 10th biggest holding. Harber Asset Management LLC owned approximately 0.11% of Okta worth $14,525,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Bank of Jackson Hole Trust purchased a new stake in shares of Okta during the 4th quarter valued at $25,000. TD Private Client Wealth LLC boosted its position 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 purchasing an additional 456 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in shares of Okta during the 4th quarter valued at approximately $43,000. Modus Advisors LLC purchased a new position in Okta in the 4th quarter valued at approximately $44,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in shares of Okta in the fourth quarter valued at $44,000. Institutional investors own 86.64% of the company’s stock.

Insider Activity

In related news, CFO Brett Tighe sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00. Following the completion of the transaction, the chief financial officer now directly owns 112,533 shares in the company, valued at $10,015,437. This trade represents a 4.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $87.09, for a total transaction of $33,965,100.00. The disclosure for this sale can be found here. Insiders have sold 761,197 shares of company stock valued at $70,662,533 in the last ninety days. Insiders own 7.00% of the company’s stock.

Okta Trading Up 0.2 %

Shares of Okta stock opened at $101.82 on Monday. The firm’s 50 day simple moving average is $102.15 and its two-hundred day simple moving average is $87.84. The firm has a market capitalization of $17.68 billion, a price-to-earnings ratio of -290.91, a PEG ratio of 6.42 and a beta of 1.07. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $118.07. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.

Analysts Set New Price Targets

Several brokerages have recently commented on OKTA. Truist Financial boosted their price objective on Okta from $92.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. DA Davidson upgraded Okta from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $90.00 to $125.00 in a report on Tuesday, March 4th. Stephens started coverage on Okta in a research note on Tuesday, April 1st. They issued an “equal weight” rating and a $127.00 target price for the company. Sanford C. Bernstein cut their price objective on shares of Okta from $129.00 to $124.00 and set an “outperform” rating for the company in a research note on Tuesday, December 17th. Finally, UBS Group set a $135.00 target price on Okta in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Okta has a consensus rating of “Moderate Buy” and an average target price of $116.09.

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.