Vontobel Holding Ltd. Sells 43,035 Shares of Okta, Inc. (NASDAQ:OKTA)

Vontobel Holding Ltd. decreased its position in Okta, Inc. (NASDAQ:OKTA) by 26.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,031 shares of the company’s stock after selling 43,035 shares during the period. Vontobel Holding Ltd. owned approximately 0.07% of Okta worth $9,616,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Paloma Partners Management Co bought a new position in Okta during the 3rd quarter valued at about $969,000. Stifel Financial Corp lifted its stake in Okta by 56.1% during the 3rd quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock valued at $2,770,000 after acquiring an additional 13,387 shares during the period. Nordea Investment Management AB lifted its stake in Okta by 1,150.2% during the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after acquiring an additional 382,190 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Okta by 105.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock valued at $26,627,000 after acquiring an additional 184,107 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Okta by 7.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,547 shares of the company’s stock valued at $8,813,000 after acquiring an additional 8,239 shares during the period. Institutional investors own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Morgan Stanley raised shares of Okta from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $92.00 to $97.00 in a research report on Monday, December 2nd. Jefferies Financial Group decreased their price target on shares of Okta from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Mizuho boosted their price objective on shares of Okta from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday. Scotiabank decreased their target price on Okta from $96.00 to $94.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. Finally, BMO Capital Markets boosted their price target on Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $105.45.

Okta Stock Performance

NASDAQ OKTA opened at $96.29 on Friday. The stock has a market capitalization of $16.50 billion, a PE ratio of -275.11, a P/E/G ratio of 6.58 and a beta of 1.03. The business has a 50 day simple moving average of $87.42 and a two-hundred day simple moving average of $82.26. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $114.50.

Insider Transactions at Okta

In other news, Director Jacques Frederic Kerrest sold 65,000 shares of Okta stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $97.50, for a total value of $6,337,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $80.50, for a total value of $217,672.00. Following the completion of the transaction, the insider now owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 980,908 shares of company stock worth $85,025,665. 7.00% of the stock is currently owned by company insiders.

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.