Okta, Inc. (NASDAQ:OKTA) Shares Bought by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 73,621 shares of the company’s stock after acquiring an additional 1,404 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Okta were worth $5,801,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC raised its stake in shares of Okta by 2.4% in the 4th quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock worth $352,000 after buying an additional 105 shares in the last quarter. Stephens Inc. AR grew its holdings in Okta by 5.0% during the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock worth $260,000 after acquiring an additional 157 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Okta by 2.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock worth $605,000 after acquiring an additional 180 shares in the last quarter. Great Lakes Advisors LLC lifted its holdings in Okta by 2.7% in the 4th quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company’s stock valued at $557,000 after acquiring an additional 184 shares during the last quarter. Finally, CHICAGO TRUST Co NA boosted its position in shares of Okta by 6.5% during the 4th quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock valued at $246,000 after purchasing an additional 191 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Insider Activity

In other news, insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $89.58, for a total transaction of $242,224.32. Following the transaction, the insider now directly owns 23,311 shares in the company, valued at $2,088,199.38. The trade was a 10.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brett Tighe sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total value of $445,000.00. Following the transaction, the chief financial officer now directly owns 112,533 shares in the company, valued at approximately $10,015,437. This trade represents a 4.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 761,197 shares of company stock worth $70,662,533 in the last quarter. Corporate insiders own 7.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on OKTA. Mizuho upgraded shares of Okta from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $110.00 to $127.00 in a research report on Tuesday, March 4th. UBS Group set a $135.00 target price on Okta in a report on Tuesday, March 4th. The Goldman Sachs Group increased their price objective on Okta from $107.00 to $123.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Canaccord Genuity Group raised their price objective on shares of Okta from $94.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, March 4th. Finally, Westpark Capital reaffirmed a “buy” rating and issued a $140.00 price target on shares of Okta in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Okta currently has an average rating of “Moderate Buy” and an average target price of $115.29.

Okta Stock Down 2.9 %

Okta stock opened at $107.99 on Monday. 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 1-year low of $70.56 and a 1-year high of $118.07. The company has a fifty day simple moving average of $100.33 and a 200 day simple moving average of $85.87. The company has a market cap of $18.75 billion, a P/E ratio of -308.54, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09.

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.