MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 35,579 Shares of Okta, Inc. (NASDAQ:OKTA)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 6.6% during the fourth quarter, HoldingsChannel reports. The fund owned 574,877 shares of the company’s stock after purchasing an additional 35,579 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Okta were worth $45,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in Okta during the 4th quarter valued at $1,686,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Okta by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company’s stock worth $87,903,000 after purchasing an additional 46,064 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Okta by 46.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,833 shares of the company’s stock worth $854,000 after purchasing an additional 3,429 shares during the period. Westpac Banking Corp increased its holdings in shares of Okta by 2,574.9% in the fourth quarter. Westpac Banking Corp now owns 9,817 shares of the company’s stock worth $774,000 after purchasing an additional 9,450 shares during the period. Finally, Forsta AP Fonden increased its holdings in shares of Okta by 40.5% in the fourth quarter. Forsta AP Fonden now owns 73,900 shares of the company’s stock worth $5,823,000 after purchasing an additional 21,300 shares during the period. Institutional investors own 86.64% of the company’s stock.

Okta Stock Performance

NASDAQ OKTA opened at $124.05 on Wednesday. The company has a 50-day simple moving average of $107.14 and a two-hundred day simple moving average of $92.92. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $124.89. The firm has a market cap of $21.54 billion, a price-to-earnings ratio of -354.43, a PEG ratio of 6.42 and a beta of 0.96.

Analysts Set New Price Targets

Several research analysts have recently weighed in on OKTA shares. Stifel Nicolaus upped their price target on shares of Okta from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Jefferies Financial Group upped their price target on shares of Okta from $90.00 to $110.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. Susquehanna upped their price target on shares of Okta from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. DA Davidson raised shares of Okta from a “neutral” rating to a “buy” rating and upped their price target for the stock from $90.00 to $125.00 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 assigned a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Okta presently has an average rating of “Moderate Buy” and a consensus target price of $116.80.

Insider Transactions at Okta

In other news, Director Jacques Frederic Kerrest sold 130,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total transaction of $13,650,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Jonathan James Addison sold 7,005 shares of the stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $101.19, for a total transaction of $708,835.95. Following the sale, the executive now owns 19,067 shares of the company’s stock, valued at approximately $1,929,389.73. This represents a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,452 shares of company stock worth $16,347,360. Company insiders own 7.00% of the company’s stock.

About Okta

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.