Forsta AP Fonden Has $5.82 Million Holdings in Okta, Inc. (NASDAQ:OKTA)

Forsta AP Fonden increased its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 40.5% during the fourth quarter, Holdings Channel reports. The fund owned 73,900 shares of the company’s stock after purchasing an additional 21,300 shares during the period. Forsta AP Fonden’s holdings in Okta were worth $5,823,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new stake in Okta in the 3rd quarter valued at about $49,373,000. Nordea Investment Management AB grew its stake in shares of Okta by 1,150.2% during the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after purchasing an additional 382,190 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Okta by 232.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock valued at $29,479,000 after purchasing an additional 277,084 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Okta by 105.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock valued at $26,627,000 after purchasing an additional 184,107 shares in the last quarter. Finally, Quantinno Capital Management LP raised its position in Okta by 126.0% in the 3rd quarter. Quantinno Capital Management LP now owns 224,360 shares of the company’s stock worth $16,679,000 after purchasing an additional 125,074 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on OKTA shares. The Goldman Sachs Group increased their price objective on Okta from $97.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Scotiabank lowered their price objective on Okta from $96.00 to $94.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Jefferies Financial Group dropped their price objective on Okta from $100.00 to $90.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Barclays raised their target price on shares of Okta from $81.00 to $96.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. Finally, Canaccord Genuity Group increased their price objective on shares of Okta from $82.00 to $94.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $104.55.

Insider Activity

In related news, CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total value of $445,000.00. Following the sale, the chief financial officer now owns 112,533 shares of the company’s stock, valued at approximately $10,015,437. This trade represents a 4.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $93.00, for a total value of $12,090,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 910,959 shares of company stock worth $78,146,525 over the last three months. Corporate insiders own 7.00% of the company’s stock.

Okta Price Performance

Shares of NASDAQ OKTA opened at $94.22 on Friday. The company has a fifty day moving average price of $84.07 and a 200 day moving average price of $82.20. The firm has a market cap of $16.14 billion, a PE ratio of -269.20, a PEG ratio of 9.49 and a beta of 1.00. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $114.50.

Okta Company 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.