Algert Global LLC bought a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,270 shares of the company's stock, valued at approximately $1,518,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of OKTA. Bank of Jackson Hole Trust bought a new stake in shares of Okta during the 4th quarter worth about $25,000. TD Private Client Wealth LLC boosted its stake in shares of Okta by 3,507.7% during the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock worth $37,000 after acquiring an additional 456 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Okta during the 4th quarter worth about $43,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Okta during the 4th quarter worth about $44,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Okta by 40.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 732 shares of the company's stock worth $58,000 after acquiring an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on OKTA shares. Robert W. Baird upped their price target on Okta from $115.00 to $130.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 4th. Royal Bank of Canada upped their price target on Okta from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 4th. UBS Group set a $135.00 target price on Okta in a research note on Tuesday, March 4th. Morgan Stanley decreased their target price on Okta from $125.00 to $123.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Needham & Company LLC restated a "buy" rating and set a $115.00 target price on shares of Okta in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $116.80.
View Our Latest Research Report on OKTA
Insider Activity
In related news, CRO Jonathan James Addison sold 7,005 shares of Okta stock in a transaction on Friday, April 11th. The stock was sold at an average price of $101.19, for a total transaction of $708,835.95. Following the completion of the sale, the executive now directly owns 19,067 shares of the company's stock, valued at $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 is available at this link. Also, Director Jacques Frederic Kerrest sold 130,000 shares of Okta stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total value of $13,650,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 154,452 shares of company stock valued at $16,347,360. Company insiders own 7.00% of the company's stock.
Okta Trading Down 0.1%
Shares of NASDAQ OKTA traded down $0.12 during midday trading on Tuesday, hitting $124.05. The stock had a trading volume of 2,899,348 shares, compared to its average volume of 2,767,732. The company's 50-day simple moving average is $106.88 and its 200 day simple moving average is $92.70. The firm has a market cap of $21.54 billion, a P/E ratio of -354.43, 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 $124.59. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.
About Okta
(
Free Report)
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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