Gotham Asset Management LLC Invests $1.22 Million in Okta, Inc. (NASDAQ:OKTA)

Gotham Asset Management LLC acquired a new stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 15,488 shares of the company's stock, valued at approximately $1,220,000.

A number of other large investors also recently modified their holdings of the company. Marshall Wace LLP grew its position in Okta by 35.5% during the fourth quarter. Marshall Wace LLP now owns 3,583,937 shares of the company's stock valued at $282,414,000 after acquiring an additional 938,509 shares during the last quarter. Norges Bank purchased a new position in Okta in the 4th quarter worth $234,992,000. Geode Capital Management LLC raised its position in Okta by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company's stock worth $212,385,000 after purchasing an additional 135,110 shares during the period. Ameriprise Financial Inc. lifted its stake in Okta by 2,135.7% in the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock worth $150,845,000 after purchasing an additional 1,828,630 shares during the last quarter. Finally, Alyeska Investment Group L.P. boosted its position in Okta by 2,309.4% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company's stock valued at $139,693,000 after buying an additional 1,699,176 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OKTA. Scotiabank boosted their target price on Okta from $94.00 to $109.00 and gave the company a "sector perform" rating in a research note on Tuesday, March 4th. DA Davidson boosted their price objective on Okta from $125.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Needham & Company LLC restated a "buy" rating and issued a $115.00 target price on shares of Okta in a report on Tuesday, March 4th. Stephens began coverage on shares of Okta in a report on Tuesday, April 1st. They set an "equal weight" rating and a $127.00 price target for the company. Finally, Wells Fargo & Company upped their price objective on shares of 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 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.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $118.03.

Okta Stock Down 2.8%

OKTA stock traded down $3.48 on Wednesday, reaching $122.06. 3,294,095 shares of the company traded hands, compared to its average volume of 2,783,252. The firm has a fifty day simple moving average of $108.88 and a 200-day simple moving average of $94.74. The company has a market cap of $21.19 billion, a P/E ratio of -348.74, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96. Okta, Inc. has a one year low of $70.56 and a one year high of $127.57. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

Insiders Place Their Bets

In other news, CRO Jonathan James Addison sold 7,005 shares of Okta stock in a transaction dated 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 of the company's stock, 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, Director Jacques Frederic Kerrest sold 130,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were 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 have sold 154,452 shares of company stock valued at $16,347,360. 5.68% of the stock is currently owned by corporate insiders.

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.