Okta, Inc. (NASDAQ:OKTA) Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers grew its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 54.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,371 shares of the company's stock after acquiring an additional 6,789 shares during the period. Cetera Investment Advisers' holdings in Okta were worth $1,526,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bank of Jackson Hole Trust bought a new position in Okta in the 4th quarter worth about $25,000. TD Private Client Wealth LLC lifted its position in shares of Okta by 3,507.7% in the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock worth $37,000 after purchasing an additional 456 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in shares of Okta in the 4th quarter worth approximately $43,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Okta in the 4th quarter worth approximately $44,000. Finally, Blue Trust Inc. lifted its position in shares of Okta by 103.8% in the 4th quarter. Blue Trust Inc. now owns 758 shares of the company's stock worth $56,000 after purchasing an additional 386 shares during the period. 86.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Morgan Stanley lowered their price target on shares of Okta from $125.00 to $123.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Barclays upped their price target on shares of Okta from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Mizuho upped their price target on shares of Okta from $127.00 to $135.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Canaccord Genuity Group upped their price target on shares of Okta from $94.00 to $100.00 and gave the stock a "hold" rating in a research report on Tuesday, March 4th. Finally, Cantor Fitzgerald assumed coverage on shares of Okta in a research report on Monday, March 31st. They issued an "overweight" rating and a $130.00 price target for the company. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $120.17.

Okta Stock Performance

Shares of NASDAQ:OKTA traded down $0.19 during midday trading on Friday, reaching $123.72. The company's stock had a trading volume of 1,919,320 shares, compared to its average volume of 2,797,421. The firm has a market capitalization of $21.48 billion, a PE ratio of -353.49, a P/E/G ratio of 6.42 and a beta of 0.96. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $127.57. The stock has a fifty day moving average of $109.24 and a 200 day moving average of $95.28. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 11,552 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the sale, the insider now owns 22,125 shares in the company, valued at approximately $2,524,241.25. This trade represents a 34.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the firm's stock in a transaction on 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. Insiders have sold 154,452 shares of company stock worth $16,347,360 over the last 90 days. 5.68% of the stock is currently owned by company insiders.

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.