Daiwa Securities Group Inc. Sells 2,730 Shares of Okta, Inc. (NASDAQ:OKTA)

Daiwa Securities Group Inc. lessened its position in Okta, Inc. (NASDAQ:OKTA) by 16.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 13,385 shares of the company’s stock after selling 2,730 shares during the period. Daiwa Securities Group Inc.’s holdings in Okta were worth $1,055,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bank of Jackson Hole Trust bought a new stake in Okta in the 4th quarter worth $25,000. Itau Unibanco Holding S.A. bought a new stake in Okta in the 3rd quarter worth $25,000. Legacy Investment Solutions LLC bought a new stake in Okta in the 3rd quarter worth $32,000. Wingate Wealth Advisors Inc. bought a new stake in Okta in the 4th quarter worth $44,000. Finally, Modus Advisors LLC bought a new stake in Okta in the 4th quarter worth $44,000. Institutional investors own 86.64% of the company’s stock.

Okta Stock Performance

Shares of OKTA stock opened at $112.55 on Friday. The company has a 50 day moving average price of $94.58 and a 200-day moving average price of $83.26. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $116.96. The firm has a market capitalization of $19.29 billion, a PE ratio of -321.57, a P/E/G 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.

Analysts Set New Price Targets

OKTA has been the topic of a number of recent analyst reports. Barclays raised their price target 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. Sanford C. Bernstein cut their target price on shares of Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 17th. Royal Bank of Canada lifted 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. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their target price on shares of Okta from $107.00 to $123.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.39.

Insider Transactions at Okta

In related news, 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 transaction of $13,650,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brett Tighe sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total transaction of $445,000.00. Following the sale, the chief financial officer now owns 112,533 shares of the company’s stock, valued at $10,015,437. This trade represents a 4.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 979,482 shares of company stock worth $88,072,216 over the last three months. 7.00% of the stock is currently owned by company insiders.

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.