Swiss National Bank Sells 8,700 Shares of Okta, Inc. (NASDAQ:OKTA)

Swiss National Bank lowered its position in shares of Okta, Inc. (NASDAQ:OKTA) by 1.7% during the fourth quarter, HoldingsChannel reports. The fund owned 490,100 shares of the company’s stock after selling 8,700 shares during the quarter. Swiss National Bank’s holdings in Okta were worth $44,369,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Okta by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 15,281,123 shares of the company’s stock valued at $1,245,564,000 after buying an additional 123,216 shares during the last quarter. Sands Capital Management LLC grew its stake in shares of Okta by 2.4% in the third quarter. Sands Capital Management LLC now owns 5,871,958 shares of the company’s stock worth $478,623,000 after purchasing an additional 136,267 shares during the last quarter. Cerity Partners LLC raised its position in Okta by 6,192.3% during the 4th quarter. Cerity Partners LLC now owns 3,172,223 shares of the company’s stock worth $287,181,000 after purchasing an additional 3,121,809 shares during the last quarter. Eminence Capital LP grew its position in shares of Okta by 7.7% in the 3rd quarter. Eminence Capital LP now owns 1,599,703 shares of the company’s stock valued at $130,392,000 after buying an additional 113,994 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Okta by 8.2% in the third quarter. Legal & General Group Plc now owns 1,150,442 shares of the company’s stock worth $93,773,000 after acquiring an additional 87,102 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $99.25 on Tuesday. The company has a 50 day moving average of $100.89 and a 200 day moving average of $86.73. Okta, Inc. has a 12 month low of $65.04 and a 12 month high of $114.50. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. The stock has a market cap of $16.61 billion, a P/E ratio of -45.74 and a beta of 0.98.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.35. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. The company had revenue of $605.00 million for the quarter, compared to analysts’ expectations of $586.25 million. As a group, sell-side analysts forecast that Okta, Inc. will post -1.51 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on OKTA shares. Evercore ISI upped their price objective on shares of Okta from $70.00 to $102.00 and gave the company an “in-line” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. raised their target price on Okta from $74.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Truist Financial reaffirmed a “hold” rating and set a $105.00 price objective (up previously from $85.00) on shares of Okta in a research report on Thursday, February 29th. Mizuho increased their target price on shares of Okta from $90.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Finally, Sanford C. Bernstein upped their price objective on shares of Okta from $84.00 to $114.00 and gave the company a “market perform” rating in a report on Thursday, February 29th. Twenty analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $100.39.

Insiders Place Their Bets

In related news, CAO Shibu Ninan sold 4,279 shares of Okta stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total value of $445,615.06. Following the completion of the sale, the chief accounting officer now owns 4,111 shares of the company’s stock, valued at $428,119.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Shellye L. Archambeau sold 5,000 shares of Okta stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the transaction, the director now directly owns 6,042 shares in the company, valued at $646,252.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Shibu Ninan sold 4,279 shares of Okta stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total value of $445,615.06. Following the transaction, the chief accounting officer now directly owns 4,111 shares in the company, valued at $428,119.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,779 shares of company stock valued at $1,205,990. Company insiders own 7.36% of the company’s stock.

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.