Okta, Inc. (NASDAQ:OKTA) Shares Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ increased its position in shares of Okta, Inc. (NASDAQ:OKTA) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,695 shares of the company’s stock after acquiring an additional 959 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Okta were worth $2,762,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of OKTA. Metis Global Partners LLC grew its holdings in Okta by 7.1% during the third quarter. Metis Global Partners LLC now owns 3,181 shares of the company’s stock worth $236,000 after acquiring an additional 212 shares during the period. CIBC Asset Management Inc raised its holdings in Okta by 5.4% during the 3rd quarter. CIBC Asset Management Inc now owns 5,650 shares of the company’s stock worth $420,000 after buying an additional 288 shares during the period. Empowered Funds LLC raised its holdings in Okta by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 5,718 shares of the company’s stock worth $425,000 after buying an additional 295 shares during the period. Frazier Financial Advisors LLC acquired a new stake in Okta during the 3rd quarter worth about $58,000. Finally, Swiss National Bank raised its holdings in Okta by 0.8% during the 3rd quarter. Swiss National Bank now owns 477,700 shares of the company’s stock worth $35,512,000 after buying an additional 3,600 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Okta

In other news, Director Jacques Frederic Kerrest sold 130,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total transaction of $13,650,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd Mckinnon sold 233,028 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The disclosure for this sale can be found here. Insiders sold a total of 979,482 shares of company stock worth $88,072,216 over the last three months. 7.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on OKTA shares. Royal Bank of Canada boosted their price objective on Okta from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Sanford C. Bernstein lowered their target price on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 17th. Robert W. Baird lifted their target price on Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 target price on shares of Okta in a research note on Tuesday, March 4th. Finally, Morgan Stanley raised Okta from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $92.00 to $97.00 in a research note on Monday, December 2nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $114.39.

Okta Stock Up 5.6 %

Shares of Okta stock opened at $112.55 on Monday. The stock has a market capitalization of $19.29 billion, a P/E ratio of -321.57, a PEG ratio of 6.42 and a beta of 1.09. 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 stock has a 50 day moving average price of $94.58 and a two-hundred day moving average price of $83.17. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $116.96.

Okta 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.