UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $122.90 Million Holdings in Okta, Inc. (NASDAQ:OKTA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in shares of Okta, Inc. (NASDAQ:OKTA) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,559,625 shares of the company’s stock after selling 9,624 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Okta were worth $122,898,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Okta during the 4th quarter worth approximately $234,992,000. Ameriprise Financial Inc. increased its position in Okta by 2,135.7% during the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company’s stock worth $150,845,000 after buying an additional 1,828,630 shares during the period. Alyeska Investment Group L.P. lifted its holdings in shares of Okta by 2,309.4% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company’s stock worth $139,693,000 after buying an additional 1,699,176 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Okta by 236.8% during the fourth quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company’s stock worth $176,271,000 after buying an additional 1,572,786 shares in the last quarter. Finally, Sachem Head Capital Management LP bought a new stake in shares of Okta in the fourth quarter valued at about $105,592,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Performance

Shares of OKTA stock opened at $123.72 on Friday. The firm has a market capitalization of $21.48 billion, a price-to-earnings ratio of -353.49, a PEG ratio of 6.42 and a beta of 0.96. 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 business’s 50-day moving average price is $109.45 and its 200-day moving average price is $95.62. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $127.57.

Insider Activity at Okta

In other news, insider Larissa Schwartz sold 11,552 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the transaction, the insider now directly owns 22,125 shares in the company, valued at $2,524,241.25. This trade represents a 34.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Jonathan James Addison sold 7,005 shares of Okta stock in a transaction that occurred on Friday, April 11th. The stock was 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 directly owns 19,067 shares in the company, valued at approximately $1,929,389.73. This represents a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 154,452 shares of company stock worth $16,347,360 in the last quarter. 5.68% of the stock is owned by insiders.

Analysts Set New Price Targets

OKTA has been the topic of a number of recent research reports. Truist Financial raised their price target on shares of Okta from $92.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, March 4th. Robert W. Baird raised their target price on shares of Okta from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. BMO Capital Markets lifted their price target on shares of Okta from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Wednesday, May 14th. Mizuho boosted their price target on Okta from $127.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Finally, Citigroup raised their price objective on Okta from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $120.17.

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.