MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $45.30 Million Position in Okta, Inc. (NASDAQ:OKTA)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 574,877 shares of the company’s stock after buying an additional 35,579 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.34% of Okta worth $45,304,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in OKTA. Hudson Bay Capital Management LP acquired a new stake in shares of Okta in the 4th quarter valued at $39,400,000. Gotham Asset Management LLC acquired a new stake in shares of Okta in the 4th quarter valued at $1,220,000. Granahan Investment Management LLC boosted its holdings in shares of Okta by 23.9% in the 4th quarter. Granahan Investment Management LLC now owns 50,852 shares of the company’s stock valued at $4,007,000 after purchasing an additional 9,823 shares in the last quarter. Focus Partners Wealth boosted its holdings in shares of Okta by 18.5% in the 4th quarter. Focus Partners Wealth now owns 110,623 shares of the company’s stock valued at $8,717,000 after purchasing an additional 17,273 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its holdings in shares of Okta by 126.5% in the 4th quarter. Ensign Peak Advisors Inc now owns 519,782 shares of the company’s stock valued at $40,959,000 after purchasing an additional 290,340 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Price Performance

Okta stock opened at $124.05 on Wednesday. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $124.89. 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 business’s 50 day simple moving average is $107.14 and its 200 day simple moving average is $92.92. The company has a market cap of $21.54 billion, a price-to-earnings ratio of -354.43, a PEG ratio of 6.42 and a beta of 0.96.

Insider Activity at Okta

In related news, insider Eric Robert Kelleher sold 5,895 shares of the company’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 transaction, the insider now owns 9,828 shares in the company, valued at approximately $1,117,935. This represents a 37.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Jonathan James Addison sold 7,005 shares of the company’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $101.19, for a total value of $708,835.95. Following the completion of the transaction, the executive now owns 19,067 shares in the company, valued at approximately $1,929,389.73. The trade was a 26.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 154,452 shares of company stock worth $16,347,360. Insiders own 7.00% of the company’s stock.

Wall Street Analyst Weigh In

OKTA has been the topic of a number of research analyst reports. Mizuho raised Okta from a “neutral” rating to an “outperform” rating and raised their target price for the company from $110.00 to $127.00 in a report on Tuesday, March 4th. Citigroup raised their target price on Okta from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Cantor Fitzgerald started coverage on Okta in a report on Monday, March 31st. They set an “overweight” rating and a $130.00 price objective on the stock. Scotiabank raised their price objective on Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a report on Tuesday, March 4th. Finally, DA Davidson raised Okta from a “neutral” rating to a “buy” rating and raised their price objective for the company from $90.00 to $125.00 in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Okta has an average rating of “Moderate Buy” and a consensus target price of $116.80.

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.