Y.D. More Investments Ltd Cuts Position in Okta, Inc. (NASDAQ:OKTA)

Y.D. More Investments Ltd reduced its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,136 shares of the company’s stock after selling 230 shares during the quarter. Y.D. More Investments Ltd’s holdings in Okta were worth $1,114,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Okta by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock valued at $79,503,000 after buying an additional 17,950 shares in the last quarter. Penserra Capital Management LLC lifted its position in Okta by 9.8% during the third quarter. Penserra Capital Management LLC now owns 767,962 shares of the company’s stock valued at $57,089,000 after acquiring an additional 68,757 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Okta during the third quarter worth $49,373,000. Glenmede Trust Co. NA lifted its holdings in shares of Okta by 17.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 510,658 shares of the company’s stock valued at $37,962,000 after purchasing an additional 76,588 shares during the last quarter. Finally, Swiss National Bank grew its stake in Okta by 0.8% during the 3rd quarter. Swiss National Bank now owns 477,700 shares of the company’s stock worth $35,512,000 after buying an additional 3,600 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling

In other Okta news, CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $94.76, for a total value of $473,800.00. Following the completion of the sale, the chief financial officer now directly owns 97,533 shares of the company’s stock, valued at approximately $9,242,227.08. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $87.09, for a total value of $33,965,100.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 913,168 shares of company stock valued at $78,420,769. Corporate insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on OKTA shares. Needham & Company LLC restated a “buy” rating and set a $115.00 price target on shares of Okta in a research note on Tuesday. Piper Sandler raised their price objective on Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group upped their target price on Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group raised their price target on shares of Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley upgraded shares of Okta from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $92.00 to $97.00 in a research note on Monday, December 2nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $104.55.

Okta Stock Up 1.3 %

Okta stock opened at $94.41 on Wednesday. The stock’s 50 day moving average price is $84.76 and its 200 day moving average price is $81.97. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $114.50. The company has a market cap of $16.18 billion, a PE ratio of -269.74, a price-to-earnings-growth ratio of 9.52 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

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.