Alyeska Investment Group L.P. Grows Position in Okta, Inc. (NASDAQ:OKTA)

Alyeska Investment Group L.P. grew its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 2,309.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,772,751 shares of the company's stock after acquiring an additional 1,699,176 shares during the period. Alyeska Investment Group L.P. owned about 1.03% of Okta worth $139,693,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in OKTA. Norges Bank acquired a new stake in Okta during the fourth quarter worth about $234,992,000. Marshall Wace LLP grew its position in shares of Okta by 35.5% during the 4th quarter. Marshall Wace LLP now owns 3,583,937 shares of the company's stock valued at $282,414,000 after acquiring an additional 938,509 shares during the period. AQR Capital Management LLC increased its stake in shares of 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 purchasing an additional 762,460 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Okta by 570.5% in the 4th 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 during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Okta by 54.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,241,220 shares of the company's stock valued at $97,808,000 after acquiring an additional 440,171 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Stock Up 1.2 %

NASDAQ:OKTA traded up $1.36 during mid-day trading on Tuesday, hitting $117.07. The stock had a trading volume of 2,773,251 shares, compared to its average volume of 2,741,225. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $118.11. The stock has a 50-day simple moving average of $105.28 and a two-hundred day simple moving average of $91.24. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $20.32 billion, a PE ratio of -334.49, a PEG ratio of 6.42 and a beta of 0.96.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Oppenheimer increased their price objective on Okta from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Needham & Company LLC restated a "buy" rating and set a $115.00 price target on shares of Okta in a research report on Tuesday, March 4th. Royal Bank of Canada upped their price objective on shares of Okta from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Canaccord Genuity Group lifted their target price on shares of Okta from $94.00 to $100.00 and gave the stock a "hold" rating in a research note on Tuesday, March 4th. Finally, Loop Capital initiated coverage on shares of Okta in a research note on Monday. They issued a "buy" rating and a $140.00 price target for the company. 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 assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $116.80.

Insider Buying and Selling at Okta

In other Okta news, insider Larissa Schwartz sold 2,740 shares of the firm's stock in a transaction on Tuesday, February 11th. The stock was 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 in the company, valued at $2,159,178.75. This trade represents a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Jonathan James Addison sold 7,005 shares of the company's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $101.19, for a total value of $708,835.95. Following the transaction, the executive now directly 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. In the last three months, insiders have sold 222,192 shares of company stock valued at $22,952,256. Insiders own 7.00% of the company's stock.

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.