Okta, Inc. (NASDAQ:OKTA) Shares Sold by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. decreased its position in Okta, Inc. (NASDAQ:OKTA) by 7.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,095 shares of the company’s stock after selling 4,407 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Okta were worth $4,578,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Point72 Asset Management L.P. acquired a new stake in shares of Okta during the third quarter worth $49,373,000. Nordea Investment Management AB raised its position in shares of Okta by 1,150.2% during the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock worth $33,146,000 after purchasing an additional 382,190 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Okta by 138.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock worth $43,721,000 after purchasing an additional 322,201 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of Okta by 232.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock worth $29,479,000 after purchasing an additional 277,084 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Okta by 105.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock worth $26,627,000 after purchasing an additional 184,107 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Performance

Shares of NASDAQ:OKTA opened at $98.26 on Thursday. The business has a 50 day moving average price of $86.85 and a 200 day moving average price of $82.19. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on OKTA shares. Canaccord Genuity Group boosted their target price on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Scotiabank dropped their price target on Okta from $96.00 to $94.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. BMO Capital Markets upped their price target on Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. raised Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price target on the stock in a research report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft lowered Okta from a “buy” rating to a “hold” rating and dropped their price target for the company from $115.00 to $85.00 in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $105.45.

Insider Activity at Okta

In other Okta news, CEO Todd Mckinnon sold 233,028 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $80.68, for a total value of $10,603,449.68. Following the completion of the transaction, the director now directly owns 1,622 shares of the company’s stock, valued at approximately $130,862.96. This trade represents a 98.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 978,168 shares of company stock worth $84,758,269 in the last 90 days. 7.00% of the stock is 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.