Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in Okta, Inc. (NASDAQ:OKTA)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Okta, Inc. (NASDAQ:OKTA) by 12.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 120,834 shares of the company’s stock after buying an additional 13,279 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.07% of Okta worth $9,759,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in Okta by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company’s stock valued at $87,903,000 after purchasing an additional 46,064 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Okta during the 3rd quarter valued at approximately $49,373,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake 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 valued at $44,821,000 after buying an additional 210,615 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Okta by 138.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock worth $43,721,000 after buying an additional 322,201 shares during the period. Finally, Stephens Investment Management Group LLC raised its holdings in Okta by 10.3% during the 4th quarter. Stephens Investment Management Group LLC now owns 452,307 shares of the company’s stock valued at $35,642,000 after acquiring an additional 42,176 shares during the period. Institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling

In other news, insider Larissa Schwartz sold 11,552 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was 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 represents a 34.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jacques Frederic Kerrest sold 3,306 shares of Okta stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $88.85, for a total value of $293,738.10. The disclosure for this sale can be found here. Insiders have sold a total of 761,197 shares of company stock worth $70,662,533 in the last quarter. Corporate insiders own 7.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on OKTA shares. KeyCorp raised their price target on Okta from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. JMP Securities reiterated a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. Robert W. Baird raised 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. Barclays upped their target price on shares of Okta from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Finally, UBS Group set a $135.00 price target on shares of Okta in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, Okta currently has a consensus rating of “Moderate Buy” and an average target price of $115.75.

Okta Trading Down 2.6 %

Okta stock opened at $105.22 on Tuesday. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $118.07. The company has a market capitalization of $18.27 billion, a price-to-earnings ratio of -300.63, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. The business’s fifty day simple moving average is $100.69 and its two-hundred day simple moving average is $86.10. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.

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.