57,100 Shares in Okta, Inc. (NASDAQ:OKTA) Acquired by Bayesian Capital Management LP

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

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

Insider Buying and Selling

In other news, CRO Jonathan James Addison sold 7,005 shares of the business's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $101.19, for a total value of $708,835.95. Following the sale, the executive now directly owns 19,067 shares of the company's stock, valued at approximately $1,929,389.73. The trade was a 26.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total transaction of $13,650,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 157,192 shares of company stock worth $16,614,756. Company insiders own 7.00% of the company's stock.

Analyst Upgrades and Downgrades

OKTA has been the topic of a number of research reports. Stephens assumed coverage on shares of Okta in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $127.00 target price on the stock. Loop Capital initiated coverage on shares of Okta in a report on Monday. They issued a "buy" rating and a $140.00 price target on the stock. Mizuho upgraded shares of Okta from a "neutral" rating to an "outperform" rating and raised their target price for the company from $110.00 to $127.00 in a research note on Tuesday, March 4th. Susquehanna boosted their target price on Okta from $95.00 to $105.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of Okta from $100.00 to $105.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Okta currently has an average rating of "Moderate Buy" and an average price target of $116.80.

Okta Price Performance

Shares of NASDAQ:OKTA traded down $1.71 during midday trading on Friday, hitting $119.04. The company had a trading volume of 1,060,968 shares, compared to its average volume of 2,746,333. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $121.92. 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 business's 50-day simple moving average is $106.50 and its 200-day simple moving average is $91.75. The stock has a market cap of $20.67 billion, a price-to-earnings ratio of -340.11, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96.

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.