UniSuper Management Pty Ltd Reduces Position in Okta, Inc. (NASDAQ:OKTA)

UniSuper Management Pty Ltd decreased its position in Okta, Inc. (NASDAQ:OKTA) by 20.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,100 shares of the company’s stock after selling 800 shares during the period. UniSuper Management Pty Ltd’s holdings in Okta were worth $244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of 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 in the third quarter worth about $25,000. Bank of Jackson Hole Trust purchased a new position in Okta during the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in Okta during the 3rd quarter valued at approximately $32,000. TD Private Client Wealth LLC boosted its holdings in shares of Okta by 3,507.7% in the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock valued at $37,000 after acquiring an additional 456 shares during the last quarter. Finally, Modus Advisors LLC acquired a new stake in shares of Okta in the fourth quarter worth $44,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Performance

OKTA opened at $105.22 on Tuesday. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $118.07. The firm has a market capitalization of $18.27 billion, a PE ratio of -300.63, a PEG ratio of 6.42 and a beta of 1.09. 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’s 50-day moving average price is $100.69 and its 200 day moving average price is $86.10.

Insiders Place Their Bets

In other Okta news, insider Eric Robert Kelleher sold 5,895 shares of the firm’s stock in a transaction 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 directly owns 9,828 shares of the company’s stock, valued at $1,117,935. This trade represents a 37.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Larissa Schwartz sold 11,552 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the transaction, the insider now directly owns 22,125 shares in the company, valued at approximately $2,524,241.25. The trade was a 34.30 % decrease in their position. 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. 7.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

OKTA has been the subject of a number of research reports. KeyCorp boosted their target price on shares of Okta from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. upped their target price on Okta from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Royal Bank of Canada lifted their price target on Okta from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. UBS Group set a $135.00 price objective on Okta in a research report on Tuesday, March 4th. Finally, Jefferies Financial Group lifted their target price on shares of Okta from $90.00 to $110.00 and gave the company a “hold” rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, Okta presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.75.

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.