Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 800 Shares of Okta, Inc. (NASDAQ:OKTA)

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,100 shares of the company’s stock after acquiring an additional 800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Okta were worth $3,239,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in OKTA. Itau Unibanco Holding S.A. bought a new stake in shares of Okta in the 3rd quarter worth $25,000. Bank of Jackson Hole Trust bought a new stake in Okta in the 4th quarter worth about $25,000. Blue Trust Inc. raised its holdings in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after purchasing an additional 191 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in shares of Okta during the 3rd quarter valued at $32,000. Finally, Modus Advisors LLC purchased a new position in Okta in the fourth quarter worth about $44,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OKTA has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on shares of Okta from $80.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Scotiabank cut their price objective on shares of Okta from $96.00 to $94.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. KeyCorp raised their target price on Okta from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. BTIG Research boosted their price target on Okta from $98.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft downgraded Okta from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $115.00 to $85.00 in a research note on Tuesday, November 12th. One investment 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 MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $106.13.

Insiders Place Their Bets

In other news, insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $80.50, for a total transaction of $217,672.00. Following the transaction, the insider now owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Todd Mckinnon sold 233,028 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold 980,908 shares of company stock valued at $85,025,665 over the last ninety days. 7.00% of the stock is owned by insiders.

Okta Stock Down 1.7 %

Shares of NASDAQ OKTA opened at $89.34 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50. The firm’s 50-day moving average price is $88.84 and its 200-day moving average price is $82.52. The stock has a market capitalization of $15.31 billion, a price-to-earnings ratio of -255.26, a P/E/G ratio of 6.42 and a beta of 1.03.

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.