Mitsubishi UFJ Asset Management Co. Ltd. Purchases 13,279 Shares of Okta, Inc. (NASDAQ:OKTA)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Okta, Inc. (NASDAQ:OKTA) by 12.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 120,834 shares of the company’s stock after purchasing an additional 13,279 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Okta were worth $9,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of OKTA. Itau Unibanco Holding S.A. bought a new position in Okta in the third quarter valued at about $25,000. Bank of Jackson Hole Trust purchased a new position in shares of Okta in the fourth quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Okta in the third quarter worth approximately $32,000. TD Private Client Wealth LLC grew its position in Okta by 3,507.7% during the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock valued at $37,000 after buying an additional 456 shares during the period. Finally, Modus Advisors LLC purchased a new stake in Okta during the fourth quarter valued at approximately $44,000. Institutional investors own 86.64% of the company’s stock.

Okta Price Performance

NASDAQ:OKTA opened at $105.22 on Tuesday. The firm has a market capitalization of $18.27 billion, a price-to-earnings ratio of -300.63, a PEG ratio of 6.42 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The business has a 50 day simple moving average of $100.69 and a 200-day simple moving average of $86.10. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $118.07.

Insider Activity at Okta

In other news, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $89.58, for a total value of $242,224.32. Following the sale, the insider now owns 23,311 shares of the company’s stock, valued at approximately $2,088,199.38. This represents a 10.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00. Following the transaction, the chief financial officer now directly owns 112,533 shares of the company’s stock, valued at approximately $10,015,437. This represents a 4.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 761,197 shares of company stock worth $70,662,533. Company insiders own 7.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. BMO Capital Markets lifted their price target on shares of Okta from $105.00 to $130.00 and gave the stock a “market perform” rating in a research note on Monday, March 10th. Robert W. Baird boosted their price target on Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Wells Fargo & Company raised their price objective on Okta from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Citigroup lifted their price objective on Okta from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Finally, Barclays increased their target price on shares of Okta from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, Okta has a consensus rating of “Moderate Buy” and an average price target of $115.75.

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.