Skandinaviska Enskilda Banken AB publ Raises Stake in Okta, Inc. (NASDAQ:OKTA)

Skandinaviska Enskilda Banken AB publ lifted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 2.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 34,695 shares of the company’s stock after purchasing an additional 959 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Okta were worth $2,762,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of OKTA. Point72 Asset Management L.P. purchased a new stake in shares of Okta during the 3rd quarter worth about $49,373,000. Nordea Investment Management AB grew its holdings in shares of Okta by 1,150.2% during the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock worth $33,146,000 after purchasing an additional 382,190 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Okta by 138.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock worth $43,721,000 after purchasing an additional 322,201 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Okta by 58.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 568,797 shares of the company’s stock worth $44,821,000 after purchasing an additional 210,615 shares during the period. Finally, Tredje AP fonden grew its holdings in shares of Okta by 757.5% during the 4th quarter. Tredje AP fonden now owns 226,295 shares of the company’s stock worth $17,832,000 after purchasing an additional 199,906 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analyst Ratings Changes

OKTA has been the subject of a number of analyst reports. Stifel Nicolaus upped their price target on Okta from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Robert W. Baird increased their price objective on shares of Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Canaccord Genuity Group increased their price objective on shares of Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Royal Bank of Canada increased their price objective on shares of Okta from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Finally, Westpark Capital reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Okta in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Okta has a consensus rating of “Moderate Buy” and an average target price of $114.39.

Okta Stock Performance

OKTA stock opened at $112.55 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $19.29 billion, a price-to-earnings ratio of -321.57, a PEG ratio of 6.42 and a beta of 1.09. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $116.96. The stock’s fifty day moving average is $94.58 and its two-hundred day moving average is $83.17.

Insider Buying and Selling at Okta

In other news, Director Jacques Frederic Kerrest sold 130,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total transaction of $13,650,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Larissa Schwartz sold 2,740 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $97.59, for a total value of $267,396.60. Following the transaction, the insider now directly owns 22,125 shares in the company, valued at $2,159,178.75. This trade represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 979,482 shares of company stock worth $88,072,216. 7.00% of the stock is owned by insiders.

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.