Sapience Investments LLC Acquires New Holdings in Okta, Inc. (NASDAQ:OKTA)

Sapience Investments LLC bought a new position in Okta, Inc. (NASDAQ:OKTA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,519 shares of the company's stock, valued at approximately $356,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC increased its holdings in Okta by 2.4% in the 4th quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company's stock worth $352,000 after acquiring an additional 105 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Okta by 1.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company's stock valued at $620,000 after buying an additional 136 shares in the last quarter. Stephens Inc. AR grew its holdings in Okta by 5.0% during the 4th quarter. Stephens Inc. AR now owns 3,296 shares of the company's stock valued at $260,000 after buying an additional 157 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Okta by 3.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,646 shares of the company's stock valued at $445,000 after buying an additional 171 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Okta by 2.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company's stock valued at $605,000 after buying an additional 180 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Eric Robert Kelleher sold 5,895 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $113.75, for a total transaction of $670,556.25. Following the transaction, the insider now owns 9,828 shares in the company, valued at approximately $1,117,935. This trade represents a 37.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Jonathan James Addison sold 7,005 shares of the firm's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $101.19, for a total value of $708,835.95. Following the transaction, the executive now owns 19,067 shares in the company, valued at approximately $1,929,389.73. This represents a 26.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 154,452 shares of company stock worth $16,347,360 over the last quarter. Company insiders own 5.68% of the company's stock.

Analysts Set New Price Targets

OKTA has been the subject of a number of research analyst reports. Roth Capital initiated coverage on shares of Okta in a report on Wednesday, April 23rd. They set a "buy" rating and a $119.00 price objective for the company. Westpark Capital reaffirmed a "buy" rating and set a $140.00 price objective on shares of Okta in a report on Friday, February 28th. Cantor Fitzgerald initiated coverage on shares of Okta in a report on Monday, March 31st. They set an "overweight" rating and a $130.00 price objective for the company. Susquehanna increased their price objective on shares of Okta from $95.00 to $105.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. Finally, DA Davidson increased their target price on Okta from $125.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Okta presently has an average rating of "Moderate Buy" and a consensus target price of $118.03.

Okta Trading Down 0.7%

OKTA stock traded down $0.90 during midday trading on Tuesday, reaching $125.54. The company's stock had a trading volume of 1,784,163 shares, compared to its average volume of 2,781,208. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a fifty day simple moving average of $108.50 and a two-hundred day simple moving average of $94.53. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $127.57. The firm has a market capitalization of $21.79 billion, a price-to-earnings ratio of -358.69, a PEG ratio of 6.42 and a beta of 0.96.

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.