Daiwa Securities Group Inc. Lowers Stock Position in Okta, Inc. (NASDAQ:OKTA)

Daiwa Securities Group Inc. trimmed its holdings in Okta, Inc. (NASDAQ:OKTA) by 56.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,614 shares of the company’s stock after selling 17,337 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Okta were worth $1,232,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of OKTA. Cerity Partners LLC increased its holdings in shares of Okta by 6,192.3% in the fourth quarter. Cerity Partners LLC now owns 3,172,223 shares of the company’s stock valued at $287,181,000 after purchasing an additional 3,121,809 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Okta by 79.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 938,097 shares of the company’s stock valued at $76,464,000 after purchasing an additional 416,028 shares during the period. Glenmede Trust Co. NA boosted its holdings in Okta by 1,042.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 210,981 shares of the company’s stock valued at $17,197,000 after purchasing an additional 192,513 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Okta by 2,721.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 176,071 shares of the company’s stock worth $15,940,000 after purchasing an additional 169,830 shares during the period. Finally, Alua Capital Management LP purchased a new position in shares of Okta during the 3rd quarter worth approximately $12,775,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling

In other news, CAO Shibu Ninan sold 4,279 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total transaction of $445,615.06. Following the transaction, the chief accounting officer now directly owns 4,111 shares of the company’s stock, valued at $428,119.54. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Shibu Ninan sold 4,279 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total transaction of $445,615.06. Following the completion of the sale, the chief accounting officer now directly owns 4,111 shares in the company, valued at $428,119.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shellye L. Archambeau sold 5,000 shares of the business’s stock in a transaction dated 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 approximately $646,252.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,779 shares of company stock valued at $1,205,990. Corporate insiders own 7.36% of the company’s stock.

Okta Stock Performance

Shares of Okta stock opened at $94.37 on Wednesday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. The business’s fifty day moving average price is $99.32 and its 200 day moving average price is $86.15. Okta, Inc. has a twelve month low of $65.04 and a twelve month high of $114.50.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.35. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. The company had revenue of $605.00 million during the quarter, compared to analyst estimates of $586.25 million. As a group, equities analysts expect that Okta, Inc. will post -1.51 EPS for the current fiscal year.

Analyst Ratings Changes

OKTA has been the topic of a number of analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $95.00 price target (up from $85.00) on shares of Okta in a research note on Friday, January 5th. Citigroup upped their target price on shares of Okta from $75.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Evercore ISI lifted their price target on shares of Okta from $70.00 to $102.00 and gave the company an “in-line” rating in a research report on Thursday, February 29th. BMO Capital Markets upped their price target on Okta from $80.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, February 29th. Finally, Canaccord Genuity Group raised their price objective on Okta from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Thursday, February 29th. Twenty equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $100.39.

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.