Comerica Bank grew its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 11,019.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 177,358 shares of the company's stock after acquiring an additional 175,763 shares during the period. Comerica Bank owned about 0.10% of Okta worth $13,976,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the company. Virtu Financial LLC bought a new stake in Okta in the 3rd quarter worth about $2,436,000. Wilmington Savings Fund Society FSB bought a new position in shares of Okta in the third quarter worth $108,000. Tidal Investments LLC raised its stake in Okta by 132.0% in the third quarter. Tidal Investments LLC now owns 25,103 shares of the company's stock valued at $1,866,000 after purchasing an additional 14,283 shares in the last quarter. Modus Advisors LLC bought a new position in shares of Okta during the 4th quarter valued at about $44,000. Finally, Everence Capital Management Inc. bought a new position in shares of Okta during the fourth quarter valued at about $355,000. 86.64% of the stock is owned by institutional investors.
Okta Price Performance
Shares of OKTA stock traded up $1.04 during trading hours on Friday, hitting $112.90. The company's stock had a trading volume of 2,521,712 shares, compared to its average volume of 2,735,017. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $118.07. The stock has a market cap of $19.60 billion, a price-to-earnings ratio of -322.57, a P/E/G ratio of 6.42 and a beta of 0.96. The business has a fifty day moving average of $104.20 and a 200-day moving average of $90.77. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on OKTA shares. Roth Capital initiated coverage on Okta in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $119.00 price objective on the stock. 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. Robert W. Baird lifted their price objective on Okta from $115.00 to $130.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. Stifel Nicolaus increased their target price on Okta from $115.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Finally, Wells Fargo & Company boosted their price target on Okta from $95.00 to $100.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Okta currently has an average rating of "Moderate Buy" and an average price target of $116.12.
Read Our Latest Analysis on OKTA
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 stock was sold at an average price of $101.19, for a total transaction of $708,835.95. Following the sale, the executive now directly owns 19,067 shares in the company, valued at $1,929,389.73. The trade was a 26.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric Robert Kelleher sold 5,895 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $113.75, for a total value of $670,556.25. Following the sale, the insider now owns 9,828 shares in the company, valued at $1,117,935. The trade was a 37.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 222,192 shares of company stock worth $22,952,256 over the last ninety days. 7.00% of the stock is currently owned by corporate insiders.
About Okta
(
Free Report)
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.
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