65,905 Shares in Okta, Inc. (NASDAQ:OKTA) Bought by Twinbeech Capital LP

Twinbeech Capital 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 65,905 shares of the company's stock, valued at approximately $5,193,000.

Other large investors have also modified their holdings of the company. 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 raised its position in Okta by 3,507.7% during the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock valued at $37,000 after purchasing an additional 456 shares in the last quarter. 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, True Wealth Design LLC increased its stake in shares of Okta by 237.4% during the fourth quarter. True Wealth Design LLC now owns 577 shares of the company's stock valued at $45,000 after buying an additional 406 shares during the period. Hedge funds and other institutional investors own 86.64% of the company's stock.

Okta Trading Down 0.2%

Shares of NASDAQ OKTA traded down $0.19 during midday trading on Friday, reaching $123.72. 1,919,320 shares of the stock were exchanged, compared to its average volume of 2,797,421. The stock has a market capitalization of $21.48 billion, a P/E ratio of -353.49, a PEG ratio of 6.42 and a beta of 0.96. 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 company has a 50 day simple moving average of $109.45 and a 200 day simple moving average of $95.62. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $127.57.

Insider Buying and Selling

In related news, CRO Jonathan James Addison sold 7,005 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $1,929,389.73. The trade was a 26.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 154,452 shares of company stock worth $16,347,360. Company insiders own 5.68% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on OKTA shares. The Goldman Sachs Group increased their target price on shares of Okta from $107.00 to $123.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Needham & Company LLC restated a "buy" rating and set a $115.00 target price on shares of Okta in a report on Tuesday, March 4th. Loop Capital began coverage on shares of Okta in a research report on Monday, May 5th. They issued a "buy" rating and a $140.00 price objective on the stock. Oppenheimer raised their target price on shares of Okta from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Finally, Robert W. Baird increased their price objective on Okta from $115.00 to $130.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $120.17.

Okta Company 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.