Zurcher Kantonalbank Zurich Cantonalbank Grows Stake in Okta, Inc. (NASDAQ:OKTA)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Okta, Inc. (NASDAQ:OKTA) by 28.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 152,510 shares of the company’s stock after buying an additional 33,963 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.09% of Okta worth $12,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of OKTA. AlphaQuest LLC raised its holdings in Okta by 43.7% in the 4th quarter. AlphaQuest LLC now owns 10,251 shares of the company’s stock worth $808,000 after purchasing an additional 3,117 shares during the period. PNC Financial Services Group Inc. raised its holdings in Okta by 7.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,362 shares of the company’s stock worth $501,000 after purchasing an additional 437 shares during the period. Machina Capital S.A.S. raised its holdings in Okta by 19.9% in the 4th quarter. Machina Capital S.A.S. now owns 4,739 shares of the company’s stock worth $373,000 after purchasing an additional 786 shares during the period. Edgestream Partners L.P. raised its holdings in Okta by 490.5% in the 4th quarter. Edgestream Partners L.P. now owns 38,273 shares of the company’s stock worth $3,016,000 after purchasing an additional 31,792 shares during the period. Finally, Candriam S.C.A. raised its holdings in Okta by 146.1% in the 4th quarter. Candriam S.C.A. now owns 235,650 shares of the company’s stock worth $18,569,000 after purchasing an additional 139,877 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Okta news, insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the transaction, the insider now owns 24,462 shares in the company, valued at $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total value of $13,650,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 979,482 shares of company stock worth $88,072,216. Corporate insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

OKTA has been the topic of a number of recent research reports. Mizuho raised Okta from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $110.00 to $127.00 in a report on Tuesday, March 4th. Sanford C. Bernstein decreased their target price on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a report on Tuesday, December 17th. Morgan Stanley raised Okta from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $92.00 to $97.00 in a report on Monday, December 2nd. Susquehanna raised their price target on Okta from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Finally, Scotiabank raised their price target on Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Okta has an average rating of “Moderate Buy” and a consensus target price of $114.39.

Okta Trading Up 1.7 %

OKTA opened at $108.78 on Thursday. The firm has a market cap of $18.64 billion, a P/E ratio of -310.80, a P/E/G ratio of 6.42 and a beta of 1.09. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $116.96. 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 50-day moving average of $93.39 and a 200 day moving average of $83.09.

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.