Okta, Inc. (NASDAQ:OKTA) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its holdings in Okta, Inc. (NASDAQ:OKTA) by 19.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 505,182 shares of the company’s stock after selling 120,851 shares during the quarter. Nuveen Asset Management LLC’s holdings in Okta were worth $39,808,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Numerai GP LLC purchased a new stake in Okta in the 4th quarter valued at approximately $329,000. Occudo Quantitative Strategies LP purchased a new stake in Okta in the 4th quarter valued at approximately $501,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Okta by 6.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 574,877 shares of the company’s stock valued at $45,304,000 after purchasing an additional 35,579 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in Okta in the 4th quarter valued at approximately $39,400,000. Finally, Gotham Asset Management LLC purchased a new stake in Okta in the 4th quarter valued at approximately $1,220,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OKTA. Roth Capital began coverage on Okta in a research note on Wednesday, April 23rd. They set a “buy” rating and a $119.00 price target on the stock. Canaccord Genuity Group boosted their price target on Okta from $94.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. Mizuho boosted their price target on Okta from $127.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. UBS Group set a $135.00 price target on Okta in a research note on Tuesday, March 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $115.00 price target on shares of Okta in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Okta has an average rating of “Moderate Buy” and an average price target of $118.03.

Okta Price Performance

OKTA opened at $125.54 on Wednesday. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $127.57. The company has a 50 day moving average of $108.88 and a two-hundred day moving average of $94.74. The company has a market cap of $21.79 billion, a P/E ratio of -358.69, a P/E/G ratio of 6.42 and a beta of 0.96. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Insider Activity

In related news, CRO Jonathan James Addison sold 7,005 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $101.19, for a total value of $708,835.95. Following the completion of the sale, the executive now directly owns 19,067 shares in the company, valued at approximately $1,929,389.73. This represents a 26.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 11,552 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the transaction, the insider now directly owns 22,125 shares in the company, valued at $2,524,241.25. This trade represents a 34.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,452 shares of company stock valued at $16,347,360. Company insiders own 5.68% of the company’s stock.

About Okta

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.