Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Has $22.15 Million Holdings in Okta, Inc. (NASDAQ:OKTA)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its stake in shares of Okta, Inc. (NASDAQ:OKTAGet Rating) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,478 shares of the company’s stock after selling 2,512 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned approximately 0.06% of Okta worth $22,150,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Alliancebernstein L.P. boosted its holdings in Okta by 20.1% in the third quarter. Alliancebernstein L.P. now owns 198,721 shares of the company’s stock worth $47,164,000 after acquiring an additional 33,306 shares in the last quarter. Frontier Capital Management Co. LLC increased its position in shares of Okta by 3.7% during the fourth quarter. Frontier Capital Management Co. LLC now owns 370,859 shares of the company’s stock worth $83,135,000 after acquiring an additional 13,309 shares in the last quarter. Advisor Group Holdings Inc. raised its holdings in shares of Okta by 6.2% in the 4th quarter. Advisor Group Holdings Inc. now owns 54,677 shares of the company’s stock worth $12,250,000 after acquiring an additional 3,195 shares during the last quarter. Jeneq Management LP acquired a new position in Okta during the 3rd quarter valued at about $33,441,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Okta by 60.9% in the third quarter. Geneos Wealth Management Inc. now owns 6,647 shares of the company’s stock worth $1,582,000 after purchasing an additional 2,516 shares during the last quarter. Institutional investors own 73.03% of the company’s stock.

In other news, CAO Christopher K. Kramer sold 1,035 shares of the business’s stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $152.92, for a total value of $158,272.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Mckinnon sold 7,655 shares of the business’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $152.92, for a total value of $1,170,602.60. The disclosure for this sale can be found here. In the last three months, insiders sold 19,437 shares of company stock valued at $2,972,306. 9.60% of the stock is currently owned by corporate insiders.

Several brokerages have weighed in on OKTA. Zacks Investment Research upgraded Okta from a “sell” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Company dropped their price target on shares of Okta from $235.00 to $175.00 and set an “overweight” rating on the stock in a research report on Monday, April 4th. Oppenheimer reduced their price objective on shares of Okta from $295.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday, March 3rd. JMP Securities upgraded Okta from a “market perform” rating to an “outperform” rating and set a $260.00 target price on the stock in a research note on Tuesday, February 22nd. Finally, Stifel Nicolaus decreased their price target on Okta from $200.00 to $195.00 and set a “hold” rating for the company in a research report on Monday, March 21st. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $231.63.

NASDAQ:OKTA opened at $138.77 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.45 and a current ratio of 2.45. The stock has a fifty day moving average of $159.57 and a 200 day moving average of $202.03. Okta, Inc. has a 52-week low of $135.46 and a 52-week high of $287.44. The firm has a market capitalization of $21.74 billion, a price-to-earnings ratio of -24.52 and a beta of 1.04.

Okta (NASDAQ:OKTAGet Rating) last issued its quarterly earnings results on Wednesday, March 2nd. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.06. Okta had a negative return on equity of 13.61% and a negative net margin of 65.25%. During the same quarter last year, the company earned ($0.37) earnings per share. Equities analysts forecast that Okta, Inc. will post -5.35 earnings per share for the current fiscal year.

Okta Company Profile (Get Rating)

Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products and services, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access applications in the cloud or on-premise from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, Web applications, and data; Lifecycle Management that enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; Access Gateway that enables organizations to extend the Okta Identity Cloud from the cloud to their existing on-premise applications; and Advanced Server Access to secure cloud infrastructure.

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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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