Banco Bilbao Vizcaya Argentaria S.A. Grows Stock Position in Okta, Inc. (NASDAQ:OKTA)

Banco Bilbao Vizcaya Argentaria S.A. raised its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 85.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,588 shares of the company's stock after purchasing an additional 5,339 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Okta were worth $922,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Bank of Jackson Hole Trust acquired a new stake in Okta in the 4th quarter valued at about $25,000. TD Private Client Wealth LLC lifted its position in Okta by 3,507.7% during the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock worth $37,000 after buying an additional 456 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in Okta during the fourth quarter worth $43,000. Wingate Wealth Advisors Inc. purchased a new stake in Okta in the 4th quarter valued at $44,000. Finally, Modus Advisors LLC acquired a new stake in shares of Okta in the 4th quarter worth $44,000. Institutional investors and hedge funds own 86.64% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Okta from $95.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Morgan Stanley decreased their price objective on Okta from $125.00 to $123.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. DA Davidson raised Okta from a "neutral" rating to a "buy" rating and raised their target price for the stock from $90.00 to $125.00 in a research note on Tuesday, March 4th. BTIG Research reaffirmed a "buy" rating on shares of Okta in a research note on Tuesday, March 4th. Finally, Needham & Company LLC reissued a "buy" rating and set a $115.00 price objective on shares of Okta in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $116.12.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 11,552 shares of the stock in a transaction on Wednesday, March 19th. The stock was 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. This trade represents a 34.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Jonathan James Addison sold 7,005 shares of the business's stock in a transaction 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 directly owns 19,067 shares in the company, valued at $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. Over the last 90 days, insiders have sold 227,192 shares of company stock worth $23,426,056. Corporate insiders own 7.00% of the company's stock.

Okta Stock Down 0.3 %

Shares of NASDAQ:OKTA traded down $0.38 during trading on Wednesday, hitting $112.16. 25,549,403 shares of the company were exchanged, compared to its average volume of 2,710,232. The firm's 50 day moving average price is $103.31 and its 200-day moving average price is $90.09. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $118.07. 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 stock has a market capitalization of $19.47 billion, a P/E ratio of -320.46, a PEG ratio of 6.42 and a beta of 1.07.

About Okta

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.