Okta, Inc. (NASDAQ:OKTA) Stake Lowered by Alerus Financial NA

Alerus Financial NA trimmed its stake in Okta, Inc. (NASDAQ:OKTA) by 4.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,100 shares of the company’s stock after selling 459 shares during the quarter. Alerus Financial NA’s holdings in Okta were worth $717,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Paloma Partners Management Co acquired a new position in Okta during the 3rd quarter valued at about $969,000. SBI Securities Co. Ltd. acquired a new position in shares of Okta during the fourth quarter worth approximately $1,686,000. Stifel Financial Corp boosted its position in shares of Okta by 56.1% during the third quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock worth $2,770,000 after buying an additional 13,387 shares during the period. Nordea Investment Management AB increased its position in Okta by 1,150.2% in 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised 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 in the last quarter. Institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling at Okta

In related news, insider Eric Robert Kelleher sold 5,895 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $113.75, for a total transaction of $670,556.25. Following the transaction, the insider now directly owns 9,828 shares of the company’s stock, valued at approximately $1,117,935. The trade was a 37.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $217,672.00. Following the sale, the insider now owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 763,901 shares of company stock valued at $70,880,205. 7.00% of the stock is currently owned by corporate insiders.

Okta Stock Down 2.5 %

Shares of NASDAQ OKTA opened at $111.20 on Friday. The firm has a 50 day moving average price of $99.92 and a 200 day moving average price of $85.43. The stock has a market cap of $19.30 billion, a P/E ratio of -317.71, a P/E/G ratio of 6.42 and a beta of 1.09. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $118.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. BMO Capital Markets increased their price target on Okta from $105.00 to $130.00 and gave the stock a “market perform” rating in a research note on Monday, March 10th. BTIG Research reiterated a “buy” rating on shares of Okta in a report on Tuesday, March 4th. Royal Bank of Canada increased their target price on shares of Okta from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. UBS Group set a $135.00 price target on shares of Okta in a research report on Tuesday, March 4th. Finally, Oppenheimer increased their price objective on Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.29.

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.