Okta, Inc. (NASDAQ:OKTA) Stake Lowered by Harber Asset Management LLC

Harber Asset Management LLC lessened its holdings in Okta, Inc. (NASDAQ:OKTA) by 11.6% during the 4th quarter, Holdings Channel reports. The firm owned 184,333 shares of the company’s stock after selling 24,233 shares during the quarter. Okta comprises 4.4% of Harber Asset Management LLC’s investment portfolio, making the stock its 10th biggest holding. Harber Asset Management LLC’s holdings in Okta were worth $14,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC purchased a new position in Okta during the fourth quarter worth approximately $915,000. Townsquare Capital LLC grew its position in shares of Okta by 26.1% in the 4th quarter. Townsquare Capital LLC now owns 7,973 shares of the company’s stock worth $628,000 after acquiring an additional 1,652 shares in the last quarter. Fortis Capital Advisors LLC bought a new position in Okta in the fourth quarter worth about $915,000. Rockefeller Capital Management L.P. raised its holdings in shares of Okta by 56.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 90,895 shares of the company’s stock valued at $7,163,000 after buying an additional 32,790 shares during the last quarter. Finally, Quinn Opportunity Partners LLC acquired a new position in shares of Okta during the fourth quarter valued at approximately $1,298,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on OKTA shares. Canaccord Genuity Group raised their price objective on Okta from $94.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. Scotiabank raised their target price on Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a report on Tuesday, March 4th. Cantor Fitzgerald began coverage on shares of Okta in a research note on Monday, March 31st. They issued an “overweight” rating and a $130.00 price objective for the company. Westpark Capital reissued a “buy” rating and issued a $140.00 target price on shares of Okta in a report on Friday, February 28th. Finally, Stifel Nicolaus lifted their price objective on Okta from $115.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Okta presently has an average rating of “Moderate Buy” and a consensus target price of $116.09.

Insiders Place Their Bets

In other Okta news, insider Larissa Schwartz sold 11,552 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the sale, the insider now owns 22,125 shares in the company, valued at $2,524,241.25. This trade represents a 34.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric Robert Kelleher sold 5,895 shares of the firm’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 value of $670,556.25. Following the transaction, the insider now owns 9,828 shares in the company, valued at approximately $1,117,935. The trade was a 37.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 761,197 shares of company stock valued at $70,662,533 over the last ninety days. 7.00% of the stock is currently owned by insiders.

Okta Price Performance

Shares of NASDAQ OKTA opened at $101.82 on Monday. The firm has a fifty day simple moving average of $102.15 and a 200 day simple moving average of $87.84. The company has a market capitalization of $17.68 billion, a PE ratio of -290.91, a P/E/G ratio of 6.42 and a beta of 1.07. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $118.07.

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.