PharVision Advisers LLC Invests $299,000 in Okta, Inc. (NASDAQ:OKTA)

PharVision Advisers LLC bought a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 3,794 shares of the company's stock, valued at approximately $299,000.

Several other institutional investors also recently added to or reduced their stakes in OKTA. Woodline Partners LP purchased a new position in Okta in the fourth quarter valued at approximately $2,199,000. Vident Advisory LLC increased its position in Okta by 27.1% in the fourth quarter. Vident Advisory LLC now owns 111,463 shares of the company's stock worth $8,783,000 after buying an additional 23,752 shares during the last quarter. Twinbeech Capital LP bought a new stake in shares of Okta in the fourth quarter valued at $5,193,000. Two Sigma Advisers LP bought a new stake in shares of Okta in the fourth quarter valued at $985,000. Finally, Teza Capital Management LLC purchased a new position in shares of Okta during the 4th quarter valued at $1,567,000. Institutional investors own 86.64% of the company's stock.

Okta Trading Up 1.2%

Shares of OKTA traded up $1.53 during mid-day trading on Tuesday, reaching $125.25. The company's stock had a trading volume of 2,601,091 shares, compared to its average volume of 2,803,891. The stock has a market cap of $21.74 billion, a PE ratio of -359.12, a P/E/G 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. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.91. The company's fifty day moving average price is $109.64 and its two-hundred day moving average price is $96.21.

Insider Activity at Okta

In other Okta news, insider Larissa Schwartz sold 11,552 shares of the company's stock in a transaction dated 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 completion of the sale, the insider now directly owns 22,125 shares in the company, valued at $2,524,241.25. This represents a 34.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total value of $13,650,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,452 shares of company stock valued at $16,347,360. Insiders own 5.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on OKTA shares. Royal Bank of Canada upped their price objective on shares of Okta from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. UBS Group reiterated a "buy" rating and issued a $150.00 price objective (up from $120.00) on shares of Okta in a research note on Thursday, May 22nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $115.00 price target on shares of Okta in a report on Tuesday, March 4th. Mizuho boosted their price objective on Okta from $127.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Finally, BMO Capital Markets upped their target price on shares of Okta from $130.00 to $135.00 and gave the stock a "market perform" rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $120.17.

Okta 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.