Nicholas Company Inc. Has $14.33 Million Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Nicholas Company Inc. trimmed its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 8.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 181,884 shares of the company’s stock after selling 17,063 shares during the period. Nicholas Company Inc. owned about 0.11% of Okta worth $14,332,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of OKTA. Metis Global Partners LLC boosted its stake in shares of Okta by 7.1% during the 3rd quarter. Metis Global Partners LLC now owns 3,181 shares of the company’s stock worth $236,000 after buying an additional 212 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Okta by 5.4% during the 3rd quarter. CIBC Asset Management Inc now owns 5,650 shares of the company’s stock worth $420,000 after buying an additional 288 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Okta by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 5,718 shares of the company’s stock worth $425,000 after buying an additional 295 shares during the last quarter. Frazier Financial Advisors LLC acquired a new stake in Okta in the 3rd quarter valued at about $58,000. Finally, Swiss National Bank lifted its stake in Okta by 0.8% in the 3rd quarter. Swiss National Bank now owns 477,700 shares of the company’s stock valued at $35,512,000 after purchasing an additional 3,600 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on OKTA shares. The Goldman Sachs Group raised 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. Jefferies Financial Group raised their target price on shares of Okta from $90.00 to $110.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. Canaccord Genuity Group raised their target price on shares of Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group raised their target price on shares of Okta from $94.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. Finally, Scotiabank raised their price objective on shares of Okta from $94.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.39.

Okta Stock Performance

Shares of Okta stock opened at $112.55 on Friday. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $116.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $19.29 billion, a P/E ratio of -321.57, a P/E/G ratio of 6.42 and a beta of 1.09. The company’s 50 day moving average price is $94.58 and its two-hundred day moving average price is $83.26.

Insider Buying and Selling at Okta

In other Okta news, CEO Todd Mckinnon sold 233,028 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Larissa Schwartz sold 2,704 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the sale, the insider now owns 24,462 shares in the company, valued at $1,969,191. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 979,482 shares of company stock worth $88,072,216 over the last quarter. Corporate insiders own 7.00% of the company’s stock.

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.