Okta, Inc. (NASDAQ:OKTA) Shares Acquired by Crestline Management LP

Crestline Management LP lifted its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 11.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,902 shares of the company's stock after purchasing an additional 5,201 shares during the quarter. Crestline Management LP's holdings in Okta were worth $4,011,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of OKTA. SBI Securities Co. Ltd. bought a new stake in shares of Okta in the fourth quarter valued at about $1,686,000. Nordea Investment Management AB raised its holdings in Okta by 1,150.2% in the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company's stock worth $33,146,000 after purchasing an additional 382,190 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Okta by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company's stock worth $87,903,000 after purchasing an additional 46,064 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Okta by 46.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,833 shares of the company's stock worth $854,000 after acquiring an additional 3,429 shares during the last quarter. Finally, Westpac Banking Corp grew its stake in shares of Okta by 2,574.9% during the fourth quarter. Westpac Banking Corp now owns 9,817 shares of the company's stock worth $774,000 after acquiring an additional 9,450 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Roth Capital assumed coverage on Okta in a research note on Wednesday, April 23rd. They set a "buy" rating and a $119.00 price target on the stock. KeyCorp upped their target price on Okta from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Oppenheimer upped their price objective on Okta from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. BMO Capital Markets upped their price objective on Okta from $105.00 to $130.00 and gave the stock a "market perform" rating in a research report on Monday, March 10th. Finally, Royal Bank of Canada upped their price objective on Okta from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. 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. Based on data from MarketBeat, Okta presently has a consensus rating of "Moderate Buy" and an average price target of $116.80.

Insider Activity at Okta

In other news, insider Larissa Schwartz sold 2,740 shares of Okta stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total value of $267,396.60. Following the completion of the transaction, the insider now owns 22,125 shares in the company, valued at approximately $2,159,178.75. This trade represents a 11.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eric Robert Kelleher sold 5,895 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was 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 of the company's stock, valued at approximately $1,117,935. The trade was a 37.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 157,192 shares of company stock worth $16,614,756 in the last three months. 7.00% of the stock is owned by company insiders.

Okta Trading Up 2.1%

Okta stock traded up $2.48 during midday trading on Monday, reaching $121.93. 852,909 shares of the stock traded hands, compared to its average volume of 3,412,482. The company has a 50-day simple moving average of $106.73 and a two-hundred day simple moving average of $92.34. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $122.59. The firm has a market cap of $21.17 billion, a PE ratio of -348.37, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.

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.