Occudo Quantitative Strategies LP Buys Shares of 6,364 Okta, Inc. (NASDAQ:OKTA)

Occudo Quantitative Strategies LP purchased a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,364 shares of the company's stock, valued at approximately $501,000.

A number of other institutional investors have also made changes to their positions in OKTA. Wealth Enhancement Advisory Services LLC boosted its stake 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 purchasing an additional 180 shares during the period. Oak Thistle LLC increased its position in Okta by 395.4% during the fourth quarter. Oak Thistle LLC now owns 39,485 shares of the company's stock worth $3,111,000 after acquiring an additional 31,514 shares during the period. Assenagon Asset Management S.A. raised its stake in Okta by 106.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 59,951 shares of the company's stock valued at $4,724,000 after purchasing an additional 30,957 shares during the last quarter. Advisors Management Group Inc. ADV boosted its holdings in Okta by 4.4% in the 4th quarter. Advisors Management Group Inc. ADV now owns 12,272 shares of the company's stock valued at $967,000 after purchasing an additional 514 shares during the period. Finally, Connective Portfolio Management LLC acquired a new stake in Okta in the 4th quarter worth $473,000. 86.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Okta

In related news, CRO Jonathan James Addison sold 7,005 shares of the business's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $101.19, for a total transaction of $708,835.95. Following the completion of the transaction, the executive now owns 19,067 shares in the company, valued at approximately $1,929,389.73. The trade was a 26.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Larissa Schwartz sold 11,552 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the sale, the insider now directly owns 22,125 shares of the company's stock, valued at $2,524,241.25. The trade was a 34.30% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 154,452 shares of company stock worth $16,347,360. Company insiders own 5.68% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on OKTA shares. Oppenheimer increased their target price on shares of Okta from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Loop Capital assumed coverage on Okta in a research report on Monday, May 5th. They issued a "buy" rating and a $140.00 price objective for the company. BTIG Research restated a "buy" rating on shares of Okta in a research report on Tuesday, March 4th. Needham & Company LLC restated a "buy" rating and issued a $115.00 target price on shares of Okta in a research note on Tuesday, March 4th. Finally, BMO Capital Markets lifted their price target on shares of Okta from $130.00 to $135.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Okta presently has an average rating of "Moderate Buy" and an average price target of $117.74.

Okta Trading Down 0.8%

Shares of NASDAQ OKTA traded down $1.01 during midday trading on Tuesday, hitting $125.43. The stock had a trading volume of 370,173 shares, compared to its average volume of 3,343,273. The company's 50-day simple moving average is $108.50 and its 200 day simple moving average is $94.53. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market cap of $21.78 billion, a P/E ratio of -358.29, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $127.57.

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.