Two Star Manager LLC acquired a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 96,300 shares of the company's stock, valued at approximately $7,588,000. Okta comprises 3.5% of Two Star Manager LLC's holdings, making the stock its 14th biggest position. Two Star Manager LLC owned approximately 0.06% of Okta at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in OKTA. Bank of Jackson Hole Trust acquired a new stake in Okta during the 4th quarter valued at approximately $25,000. TD Private Client Wealth LLC grew its position in shares of Okta by 3,507.7% during the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock worth $37,000 after buying an additional 456 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in shares of Okta during the 4th quarter worth approximately $43,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Okta during the 4th quarter worth approximately $44,000. Finally, Blue Trust Inc. grew its position in Okta by 103.8% in the 4th quarter. Blue Trust Inc. now owns 758 shares of the company's stock valued at $56,000 after purchasing an additional 386 shares during the period. Institutional investors own 86.64% of the company's stock.
Analyst Upgrades and Downgrades
OKTA has been the subject of several research reports. Stifel Nicolaus lifted their price target on shares of Okta from $115.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price target on shares of Okta from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. BMO Capital Markets lifted their price target on shares of Okta from $130.00 to $135.00 and gave the company a "market perform" rating in a research report on Wednesday, May 14th. Royal Bank of Canada lifted their price target on shares of Okta from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Finally, DA Davidson lifted their price target on shares of Okta from $125.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $118.03.
View Our Latest Analysis on Okta
Insider Buying and Selling at Okta
In other Okta news, insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the transaction, the insider now owns 22,125 shares of the company's stock, valued at $2,524,241.25. The trade was a 34.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eric Robert Kelleher sold 5,895 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $113.75, for a total value of $670,556.25. Following the transaction, the insider now directly owns 9,828 shares of the company's stock, valued at $1,117,935. The trade was a 37.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 154,452 shares of company stock valued at $16,347,360 in the last quarter. 5.68% of the stock is currently owned by corporate insiders.
Okta Stock Performance
OKTA traded down $3.48 during trading hours on Wednesday, hitting $122.06. The stock had a trading volume of 3,294,095 shares, compared to its average volume of 2,790,583. The company's fifty day simple moving average is $108.88 and its 200 day simple moving average is $94.74. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $127.57. The stock has a market cap of $21.19 billion, a PE ratio of -348.74, 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.
About Okta
(
Free Report)
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.
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