Ameriprise Financial Inc. Boosts Stock Position in Okta, Inc. (NASDAQ:OKTA)

Ameriprise Financial Inc. lifted its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 2,135.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,914,254 shares of the company's stock after buying an additional 1,828,630 shares during the period. Ameriprise Financial Inc. owned about 1.12% of Okta worth $150,845,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Bank of Jackson Hole Trust bought a new position in Okta during the fourth quarter worth about $25,000. TD Private Client Wealth LLC boosted its stake in Okta by 3,507.7% in the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock valued at $37,000 after buying an additional 456 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in Okta in the fourth quarter valued at $43,000. Wingate Wealth Advisors Inc. acquired a new position in Okta during the fourth quarter worth $44,000. Finally, Blue Trust Inc. lifted its holdings in shares of Okta by 103.8% during the fourth quarter. Blue Trust Inc. now owns 758 shares of the company's stock valued at $56,000 after acquiring an additional 386 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Price Performance

Shares of NASDAQ:OKTA traded down $1.30 during midday trading on Friday, hitting $119.45. The stock had a trading volume of 1,933,187 shares, compared to its average volume of 2,757,493. 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 company has a market capitalization of $20.74 billion, a P/E ratio of -341.29, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96. The company's 50-day moving average price is $106.73 and its 200-day moving average price is $92.06. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $121.93.

Insider Transactions at Okta

In other Okta news, CRO Jonathan James Addison sold 7,005 shares of Okta 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 transaction, the executive now owns 19,067 shares of the company's stock, valued at $1,929,389.73. This trade represents a 26.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larissa Schwartz sold 11,552 shares of the business'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 in the company, valued at approximately $2,524,241.25. This trade represents a 34.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,192 shares of company stock valued at $16,614,756. Corporate insiders own 7.00% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Scotiabank increased their target price on shares of Okta from $94.00 to $109.00 and gave the stock a "sector perform" rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. raised their price objective on shares of Okta from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Morgan Stanley reduced their target price on shares of Okta from $125.00 to $123.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Truist Financial upped their price objective on Okta from $92.00 to $100.00 and gave the stock a "hold" rating in a report on Tuesday, March 4th. Finally, Jefferies Financial Group boosted their price objective on Okta from $90.00 to $110.00 and gave the stock a "hold" rating in a report on Tuesday, March 4th. 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 given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.80.

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.