Jackson Square Partners LLC Sells 52,775 Shares of Okta, Inc. (NASDAQ:OKTA)

Jackson Square Partners LLC lowered its position in shares of Okta, Inc. (NASDAQ:OKTA) by 16.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 262,198 shares of the company’s stock after selling 52,775 shares during the period. Okta accounts for about 2.2% of Jackson Square Partners LLC’s holdings, making the stock its 21st biggest position. Jackson Square Partners LLC’s holdings in Okta were worth $20,661,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. EntryPoint Capital LLC grew its position in Okta by 94.1% in the fourth quarter. EntryPoint Capital LLC now owns 6,245 shares of the company’s stock worth $492,000 after acquiring an additional 3,027 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of Okta by 26.2% in the 4th quarter. Prudential Financial Inc. now owns 10,200 shares of the company’s stock worth $751,000 after purchasing an additional 2,115 shares in the last quarter. Fox Run Management L.L.C. raised its holdings in shares of Okta by 300.7% during the 4th quarter. Fox Run Management L.L.C. now owns 22,517 shares of the company’s stock valued at $1,774,000 after buying an additional 16,897 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Okta in the 4th quarter worth approximately $8,109,000. Finally, TD Private Client Wealth LLC boosted its stake in Okta by 3,507.7% in the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock worth $37,000 after buying an additional 456 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Okta news, CFO Brett Tighe sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total value of $445,000.00. Following the sale, the chief financial officer now owns 112,533 shares in the company, valued at $10,015,437. The trade was a 4.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larissa Schwartz sold 11,552 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the transaction, the insider now directly owns 22,125 shares of the company’s stock, valued at $2,524,241.25. This trade represents a 34.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 763,901 shares of company stock worth $70,880,205 in the last three months. 7.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on OKTA. Truist Financial lifted their price target on shares of Okta from $92.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. Morgan Stanley set a $125.00 price objective on Okta in a research note on Tuesday, March 18th. BTIG Research reissued a “buy” rating on shares of Okta in a research note on Tuesday, March 4th. Robert W. Baird raised their price target on Okta from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Finally, Canaccord Genuity Group lifted their target price on shares of Okta from $94.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.29.

Okta Stock Performance

NASDAQ OKTA opened at $116.38 on Tuesday. The business has a 50-day moving average price of $98.14 and a 200-day moving average price of $84.73. The firm has a market cap of $20.20 billion, a price-to-earnings ratio of -332.51, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $118.07. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

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.