272 Capital LP Buys 19,552 Shares of Okta, Inc. (NASDAQ:OKTA)

272 Capital LP lifted its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 117.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,252 shares of the company's stock after buying an additional 19,552 shares during the period. Okta comprises 2.7% of 272 Capital LP's portfolio, making the stock its 13th biggest holding. 272 Capital LP's holdings in Okta were worth $2,857,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Okta in the 4th quarter worth approximately $234,992,000. Marshall Wace LLP lifted its position in Okta by 35.5% in the fourth quarter. Marshall Wace LLP now owns 3,583,937 shares of the company's stock worth $282,414,000 after purchasing an additional 938,509 shares during the period. AQR Capital Management LLC boosted its stake in Okta by 874.6% during the fourth quarter. AQR Capital Management LLC now owns 849,642 shares of the company's stock worth $66,952,000 after buying an additional 762,460 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Okta by 570.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 869,362 shares of the company's stock worth $68,506,000 after buying an additional 739,707 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Okta by 54.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,241,220 shares of the company's stock valued at $97,808,000 after buying an additional 440,171 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Larissa Schwartz sold 2,740 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $97.59, for a total value of $267,396.60. Following the sale, the insider now directly owns 22,125 shares of the company's stock, valued at approximately $2,159,178.75. This represents a 11.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jacques Frederic Kerrest sold 65,000 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $97.50, for a total transaction of $6,337,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 222,192 shares of company stock valued at $22,952,256. 7.00% of the stock is currently owned by corporate insiders.

Okta Trading Down 0.3 %

Shares of Okta stock opened at $111.86 on Friday. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $118.07. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The business's 50 day moving average is $103.73 and its 200-day moving average is $90.32. The stock has a market cap of $19.42 billion, a P/E ratio of -319.60, a P/E/G ratio of 6.42 and a beta of 1.07.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. DA Davidson upgraded shares of Okta from a "neutral" rating to a "buy" rating and lifted their target price for the company from $90.00 to $125.00 in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price objective on Okta from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Friday, February 28th. BTIG Research reissued a "buy" rating on shares of Okta in a report on Tuesday, March 4th. Westpark Capital restated a "buy" rating and set a $140.00 target price on shares of Okta in a research report on Friday, February 28th. Finally, Roth Capital initiated coverage on shares of Okta in a research report on Wednesday, April 23rd. They set a "buy" rating and a $119.00 target price for the company. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $116.12.

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.

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