Okta, Inc. (NASDAQ:OKTA) Shares Acquired by Boothbay Fund Management LLC

Boothbay Fund Management LLC raised its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 58.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,528 shares of the company's stock after buying an additional 11,311 shares during the period. Boothbay Fund Management LLC's holdings in Okta were worth $2,406,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in OKTA. Bank of Jackson Hole Trust acquired a new position in Okta during the 4th quarter valued at about $25,000. TD Private Client Wealth LLC grew its holdings 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. bought a new stake in Okta during the fourth quarter worth $43,000. Modus Advisors LLC bought a new position in Okta during the 4th quarter valued at $44,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in Okta during the 4th quarter worth $44,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OKTA has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Okta from $95.00 to $100.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Stephens started coverage on Okta in a research note on Tuesday, April 1st. They issued an "equal weight" rating and a $127.00 target price on the stock. DA Davidson raised Okta from a "neutral" rating to a "buy" rating and increased their price target for the company from $90.00 to $125.00 in a research report on Tuesday, March 4th. BTIG Research reiterated a "buy" rating on shares of Okta in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. upped their price objective on Okta from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Okta currently has a consensus rating of "Moderate Buy" and a consensus price target of $116.12.

Insiders Place Their Bets

In related news, 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 transaction, the executive now owns 19,067 shares in the company, valued at $1,929,389.73. This trade represents a 26.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jacques Frederic Kerrest sold 65,000 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $97.50, for a total value of $6,337,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 222,192 shares of company stock valued at $22,952,256. 7.00% of the stock is currently owned by insiders.

Okta Stock Down 0.3 %

OKTA traded down $0.30 on Thursday, hitting $111.86. The company had a trading volume of 4,043,468 shares, compared to its average volume of 2,715,547. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $19.42 billion, a price-to-earnings ratio of -319.60, a P/E/G ratio of 6.42 and a beta of 1.07. The stock has a fifty day moving average price of $103.31 and a 200-day moving average price of $90.09. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $118.07.

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.