Okta, Inc. (NASDAQ:OKTA) Position Trimmed by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. trimmed its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 50.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,268 shares of the company’s stock after selling 23,537 shares during the period. Lecap Asset Management Ltd.’s holdings in Okta were worth $1,834,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new stake in Okta during the third quarter worth approximately $25,000. Future Financial Wealth Managment LLC acquired a new position in Okta in the 3rd quarter worth approximately $26,000. Blue Trust Inc. boosted its stake in Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares during the period. Legacy Investment Solutions LLC acquired a new position in Okta in the 3rd quarter worth approximately $32,000. Finally, Modus Advisors LLC acquired a new position in Okta in the 4th quarter worth approximately $44,000. 86.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the transaction, the insider now owns 24,462 shares in the company, valued at approximately $1,969,191. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the transaction, the director now owns 1,622 shares in the company, valued at approximately $130,862.96. The trade was a 98.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 913,168 shares of company stock worth $78,420,769 in the last quarter. 7.00% of the stock is currently owned by company insiders.

Okta Stock Performance

Shares of OKTA opened at $97.47 on Friday. The company has a market capitalization of $16.70 billion, a PE ratio of -278.49, a price-to-earnings-growth ratio of 9.52 and a beta of 1.03. Okta, Inc. has a one year low of $70.56 and a one year high of $114.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The company’s fifty day moving average price is $85.60 and its 200 day moving average price is $82.19.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. BTIG Research raised their price objective on shares of Okta from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. KeyCorp raised shares of Okta from a “sector weight” rating to an “overweight” rating and set a $115.00 price objective for the company in a research note on Thursday, December 19th. Mizuho decreased their price objective on shares of Okta from $104.00 to $92.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Piper Sandler raised their price objective on shares of Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised shares of Okta from a “neutral” rating to an “overweight” rating and set a $100.00 target price for the company in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $104.55.

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.