Handelsbanken Fonder AB Sells 11,895 Shares of Okta, Inc. (NASDAQ:OKTA)

Handelsbanken Fonder AB reduced its position in shares of Okta, Inc. (NASDAQ:OKTA) by 22.7% in the fourth quarter, Holdings Channel reports. The firm owned 40,500 shares of the company’s stock after selling 11,895 shares during the period. Handelsbanken Fonder AB’s holdings in Okta were worth $3,191,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in OKTA. Bank of Jackson Hole Trust purchased a new stake in shares of Okta during the 4th quarter valued at $25,000. Itau Unibanco Holding S.A. bought a new position in Okta during the third quarter valued at approximately $25,000. Blue Trust Inc. lifted its holdings in shares of Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after acquiring an additional 191 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Okta in the 3rd quarter valued at $32,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Okta during the 4th quarter valued at $44,000. Institutional investors own 86.64% of the company’s stock.

Insider Activity at Okta

In related news, Director Jacques Frederic Kerrest sold 131,426 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $80.68, for a total value of $10,603,449.68. Following the completion of the transaction, the director now directly owns 1,622 shares in the company, valued at $130,862.96. The trade was a 98.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Larissa Schwartz sold 2,704 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were 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 directly owns 24,462 shares in the company, valued at $1,969,191. This trade represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 980,908 shares of company stock valued at $85,025,665. 7.00% of the stock is owned by insiders.

Okta Trading Down 2.0 %

NASDAQ OKTA opened at $90.88 on Tuesday. The stock’s fifty day moving average price is $88.77 and its 200-day moving average price is $82.53. 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 stock has a market cap of $15.57 billion, a P/E ratio of -259.66, a P/E/G ratio of 6.42 and a beta of 1.03. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $114.50.

Analyst Ratings Changes

OKTA has been the subject of several analyst reports. Canaccord Genuity Group upped their price target on shares of Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Robert W. Baird increased their target price on Okta from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. KeyCorp raised their price target on Okta from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. UBS Group upped their price objective on shares of Okta from $108.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, DA Davidson increased their price objective on Okta from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Okta has a consensus rating of “Hold” and a consensus price target of $106.13.

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.