Mirae Asset Global Investments Co. Ltd. Has $441,000 Stock Position in Okta, Inc. (NASDAQ:OKTA)

Mirae Asset Global Investments Co. Ltd. cut its holdings in Okta, Inc. (NASDAQ:OKTA) by 10.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,402 shares of the company’s stock after selling 632 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Okta were worth $441,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Itau Unibanco Holding S.A. acquired a new position in Okta in the 3rd quarter worth about $25,000. Blue Trust Inc. grew 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 worth $28,000 after purchasing an additional 191 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in Okta in the 3rd quarter valued at approximately $32,000. Modus Advisors LLC bought a new position in Okta in the 4th quarter valued at approximately $44,000. Finally, Planning Capital Management Corp bought a new stake in Okta during the 3rd quarter worth approximately $49,000. Institutional investors own 86.64% of the company’s stock.

Insider Transactions at Okta

In other Okta news, CFO Brett Tighe sold 5,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $94.76, for a total value of $473,800.00. Following the completion of the sale, the chief financial officer now owns 97,533 shares in the company, valued at $9,242,227.08. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jacques Frederic Kerrest sold 65,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $97.50, for a total value of $6,337,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 978,168 shares of company stock valued at $84,758,269. Insiders own 7.00% of the company’s stock.

Okta Price Performance

OKTA stock opened at $98.26 on Thursday. The firm has a 50-day moving average of $86.85 and a 200 day moving average of $82.19. 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 company has a market cap of $16.84 billion, a P/E ratio of -280.74, a PEG ratio of 6.58 and a beta of 1.03. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $114.50.

Analyst Ratings Changes

Several research analysts have commented on the company. The Goldman Sachs Group lifted their target price on Okta from $97.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Canaccord Genuity Group lifted their price objective on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Sanford C. Bernstein decreased their target price on shares of Okta from $129.00 to $124.00 and set an “outperform” rating for the company in a research report on Tuesday, December 17th. Royal Bank of Canada restated an “outperform” rating and issued a $101.00 price target on shares of Okta in a research report on Wednesday, December 4th. Finally, Truist Financial reiterated a “hold” rating and set a $92.00 price objective (up from $80.00) on shares of Okta in a research report on Wednesday, December 4th. One research 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $105.45.

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.