Bayesian Capital Management LP Purchases Shares of 57,100 Okta, Inc. (NASDAQ:OKTA)

Bayesian Capital Management LP purchased a new position in Okta, Inc. (NASDAQ:OKTA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 57,100 shares of the company's stock, valued at approximately $4,499,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Okta during the fourth quarter valued at $234,992,000. Ameriprise Financial Inc. lifted its stake in Okta by 2,135.7% during the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock valued at $150,845,000 after acquiring an additional 1,828,630 shares during the period. Alyeska Investment Group L.P. boosted its holdings in shares of Okta by 2,309.4% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company's stock valued at $139,693,000 after acquiring an additional 1,699,176 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Okta by 35.5% in the fourth quarter. Marshall Wace LLP now owns 3,583,937 shares of the company's stock worth $282,414,000 after acquiring an additional 938,509 shares during the period. Finally, AQR Capital Management LLC raised its holdings 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 valued at $66,952,000 after purchasing an additional 762,460 shares during the last quarter. Institutional investors own 86.64% of the company's stock.

Insider Transactions at Okta

In other Okta news, insider Larissa Schwartz sold 2,740 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total transaction of $267,396.60. Following the transaction, the insider now owns 22,125 shares of the company's stock, valued at approximately $2,159,178.75. The trade was a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Jonathan James Addison sold 7,005 shares of the firm's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $101.19, for a total value 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. This trade represents a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 222,192 shares of company stock valued at $22,952,256 over the last 90 days. 7.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on OKTA shares. BMO Capital Markets boosted their target price on shares of Okta from $105.00 to $130.00 and gave the company a "market perform" rating in a research note on Monday, March 10th. UBS Group set a $135.00 target price on Okta in a report on Tuesday, March 4th. The Goldman Sachs Group boosted their price target on Okta from $107.00 to $123.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Royal Bank of Canada increased their price objective on shares of Okta from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus raised their price objective on shares of Okta from $115.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Okta has an average rating of "Moderate Buy" and an average target price of $116.80.

Okta Price Performance

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. The firm's 50 day moving average is $105.28 and its 200 day moving average is $91.24. 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 $20.32 billion, a price-to-earnings ratio of -334.49, a PEG ratio of 6.42 and a beta of 0.96. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $118.14.

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.