Okta, Inc. (NASDAQ:OKTA) Stake Lessened by Optimus Prime Fund Management Co. Ltd. (2024)

Optimus Prime Fund Management Co. Ltd. trimmed its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 28.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 530,000 shares of the company's stock after selling 215,000 shares during the quarter. Okta comprises about 6.0% of Optimus Prime Fund Management Co. Ltd.'s holdings, making the stock its 7th largest position. Optimus Prime Fund Management Co. Ltd. owned 0.32% of Okta worth $47,981,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OKTA. Cerity Partners LLC boosted its holdings in shares of Okta by 6,192.3% in the 4th quarter. Cerity Partners LLC now owns 3,172,223 shares of the company's stock worth $287,181,000 after purchasing an additional 3,121,809 shares in the last quarter. Sands Capital Management LLC boosted its holdings in shares of Okta by 42.3% in the 4th quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company's stock worth $756,687,000 after purchasing an additional 2,486,456 shares in the last quarter. Norges Bank purchased a new stake in Okta during the 4th quarter valued at about $150,794,000. First Trust Advisors LP boosted its holdings in Okta by 28.1% during the 4th quarter. First Trust Advisors LP now owns 4,085,430 shares of the company's stock valued at $369,854,000 after acquiring an additional 897,216 shares during the period. Finally, a16z Perennial Management L.P. purchased a new stake in Okta during the 4th quarter valued at about $54,125,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OKTA has been the subject of several analyst reports. Evercore ISI upgraded Okta from an "in-line" rating to an "outperform" rating and increased their target price for the company from $102.00 to $122.00 in a report on Thursday, May 30th. Piper Sandler increased their target price on Okta from $85.00 to $110.00 and gave the company a "neutral" rating in a report on Thursday, February 29th. The Goldman Sachs Group increased their target price on Okta from $105.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, February 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $130.00 price target on shares of Okta in a research report on Thursday, May 30th. Finally, Bank of America raised Okta from an "underperform" rating to a "buy" rating and upped their price target for the company from $64.00 to $135.00 in a research report on Thursday, February 29th. Nineteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Okta has an average rating of "Hold" and a consensus price target of $104.48.

Read Our Latest Research Report on OKTA

Insider Buying and Selling at Okta

In other Okta news, Director Shellye L. Archambeau sold 5,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the sale, the director now directly owns 6,042 shares in the company, valued at approximately $646,252.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Okta news, CAO Shibu Ninan sold 4,279 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total transaction of $445,615.06. Following the sale, the chief accounting officer now directly owns 4,111 shares in the company, valued at approximately $428,119.54. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Shellye L. Archambeau sold 5,000 shares of the firm's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total value of $534,800.00. Following the completion of the transaction, the director now owns 6,042 shares in the company, valued at $646,252.32. The disclosure for this sale can be found here. Company insiders own 7.00% of the company's stock.

Okta Stock Down 0.3 %

Shares of Okta stock traded down $0.27 during midday trading on Friday, hitting $87.42. The company had a trading volume of 1,016,412 shares, compared to its average volume of 2,167,975. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a market capitalization of $14.63 billion, a P/E ratio of -52.35 and a beta of 1.03. The company has a 50 day moving average of $96.27 and a 200 day moving average of $91.08. Okta, Inc. has a 52-week low of $65.04 and a 52-week high of $114.50.

Okta Company Profile

(Free Report)

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.

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