Teza Capital Management LLC Acquires Shares of 19,884 Okta, Inc. (NASDAQ:OKTA)

Teza Capital Management LLC bought a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 19,884 shares of the company's stock, valued at approximately $1,567,000.

A number of other institutional investors and hedge funds have also modified their holdings of OKTA. True Wealth Design LLC grew its position in Okta by 237.4% in the fourth quarter. True Wealth Design LLC now owns 577 shares of the company's stock worth $45,000 after acquiring an additional 406 shares during the period. Two Star Manager LLC acquired a new stake in shares of Okta during the fourth quarter valued at about $7,588,000. Sachem Head Capital Management LP purchased a new stake in shares of Okta in the 4th quarter valued at approximately $105,592,000. Sapience Investments LLC acquired a new position in shares of Okta in the 4th quarter worth approximately $356,000. Finally, Sea Cliff Partners Management LP increased its holdings in Okta by 30.7% in the 4th quarter. Sea Cliff Partners Management LP now owns 230,000 shares of the company's stock valued at $18,124,000 after purchasing an additional 54,057 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company's stock.

Okta Price Performance

Shares of Okta stock traded up $1.85 on Thursday, hitting $123.91. The company's stock had a trading volume of 2,268,737 shares, compared to its average volume of 2,788,503. The firm has a fifty day moving average price of $109.07 and a 200-day moving average price of $94.93. The company has a market capitalization of $21.51 billion, a P/E ratio of -354.03, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96. The company has a quick ratio of 1.34, a current 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 $127.57.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Stifel Nicolaus boosted their price objective on Okta from $115.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Cantor Fitzgerald assumed coverage on shares of Okta in a report on Monday, March 31st. They issued an "overweight" rating and a $130.00 price objective for the company. Truist Financial raised their price target on shares of Okta from $92.00 to $100.00 and gave the company a "hold" rating in a research report on Tuesday, March 4th. Mizuho increased 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, Stephens initiated coverage on Okta in a report on Tuesday, April 1st. They set an "equal weight" rating and a $127.00 price target on the stock. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Okta currently has an average rating of "Moderate Buy" and a consensus target price of $118.46.

Insider Transactions at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 130,000 shares of the stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 of the company's stock, valued at approximately $1,929,389.73. This trade represents a 26.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 154,452 shares of company stock valued at $16,347,360 over the last three months. 5.68% of the stock is currently owned by insiders.

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.