DnB Asset Management AS Purchases 1,315 Shares of Okta, Inc. (NASDAQ:OKTA)

DnB Asset Management AS lifted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 4.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,423 shares of the company’s stock after acquiring an additional 1,315 shares during the period. DnB Asset Management AS’s holdings in Okta were worth $2,240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in OKTA. The Manufacturers Life Insurance Company boosted its holdings in shares of Okta by 3.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,737 shares of the company’s stock valued at $575,000 after purchasing an additional 250 shares in the last quarter. Townsquare Capital LLC boosted its stake in Okta by 16.5% in the third quarter. Townsquare Capital LLC now owns 6,321 shares of the company’s stock valued at $470,000 after buying an additional 896 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Okta by 2.5% in the third quarter. Rockefeller Capital Management L.P. now owns 58,105 shares of the company’s stock valued at $4,320,000 after acquiring an additional 1,441 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Okta during the third quarter worth about $482,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Okta in the third quarter worth about $159,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Okta from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Guggenheim reiterated a “buy” rating and issued a $130.00 price target on shares of Okta in a research note on Wednesday, December 4th. Canaccord Genuity Group boosted their price objective on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Robert W. Baird upped their target price on Okta from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Finally, Sanford C. Bernstein reduced their price target on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $116.09.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $104.69 on Wednesday. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $118.07. The stock’s 50 day moving average is $101.00 and its 200-day moving average is $86.31. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $18.17 billion, a price-to-earnings ratio of -299.11, a PEG ratio of 6.42 and a beta of 1.09.

Insider Buying and Selling at Okta

In other Okta news, CFO Brett Tighe sold 5,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 112,533 shares of the company’s stock, valued at approximately $10,015,437. The trade was a 4.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 11,552 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the sale, the insider now directly owns 22,125 shares of the company’s stock, valued at approximately $2,524,241.25. This trade represents a 34.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 761,197 shares of company stock worth $70,662,533. 7.00% of the stock is owned by corporate insiders.

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.