Achmea Investment Management B.V. Sells 27,395 Shares of Okta, Inc. (NASDAQ:OKTA)

Achmea Investment Management B.V. cut its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 91.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,583 shares of the company’s stock after selling 27,395 shares during the period. Achmea Investment Management B.V.’s holdings in Okta were worth $204,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Paloma Partners Management Co bought a new stake in Okta during the 3rd quarter worth approximately $969,000. SBI Securities Co. Ltd. bought a new stake in Okta during the 4th quarter worth approximately $1,686,000. Stifel Financial Corp grew its position in Okta by 56.1% during the 3rd quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock worth $2,770,000 after acquiring an additional 13,387 shares during the last quarter. Nordea Investment Management AB grew its position in 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 acquiring an additional 382,190 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Okta by 105.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock worth $26,627,000 after acquiring an additional 184,107 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Todd Mckinnon sold 233,028 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Larissa Schwartz sold 2,704 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.50, for a total value of $217,672.00. Following the completion of the transaction, the insider now owns 24,462 shares of the company’s stock, valued at $1,969,191. The trade was a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 979,482 shares of company stock worth $88,072,216 in the last quarter. Corporate insiders own 7.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on OKTA shares. BTIG Research reaffirmed a “buy” rating on shares of Okta in a report on Tuesday, March 4th. Robert W. Baird upped their price objective on Okta from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Canaccord Genuity Group upped their price objective on Okta from $94.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. Piper Sandler upped their price objective on Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upped their price objective on Okta from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Okta presently has an average rating of “Moderate Buy” and an average target price of $114.39.

Okta Price Performance

Shares of NASDAQ OKTA opened at $112.55 on Friday. 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. The business has a 50-day moving average of $94.58 and a 200-day moving average of $83.26. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $116.96.

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.