Whale Rock Capital Management LLC lessened its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 62.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 813,701 shares of the company's stock after selling 1,368,718 shares during the period. Whale Rock Capital Management LLC owned approximately 0.47% of Okta worth $64,120,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also modified their holdings of the company. Woodline Partners LP purchased a new position in Okta during the fourth quarter worth about $2,199,000. Vident Advisory LLC lifted its holdings in shares of Okta by 27.1% in the 4th quarter. Vident Advisory LLC now owns 111,463 shares of the company's stock worth $8,783,000 after acquiring an additional 23,752 shares during the last quarter. Twinbeech Capital LP purchased a new position in shares of Okta during the 4th quarter worth approximately $5,193,000. Two Sigma Advisers LP acquired a new stake in Okta in the 4th quarter valued at approximately $985,000. Finally, Teza Capital Management LLC acquired a new stake in Okta in the 4th quarter valued at approximately $1,567,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.
Okta Stock Performance
Shares of OKTA stock opened at $126.44 on Tuesday. The stock's 50-day moving average is $108.50 and its two-hundred day moving average is $94.53. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $127.57. The firm has a market cap of $21.95 billion, a price-to-earnings ratio of -361.26, a PEG ratio of 6.42 and a beta of 0.96.
Wall Street Analyst Weigh In
Several research firms have recently commented on OKTA. Canaccord Genuity Group raised their price target on Okta from $94.00 to $100.00 and gave the stock a "hold" rating in a research report on Tuesday, March 4th. Scotiabank raised their target price on Okta from $94.00 to $109.00 and gave the company a "sector perform" rating in a report on Tuesday, March 4th. Jefferies Financial Group lifted their target price on Okta from $90.00 to $110.00 and gave the company a "hold" rating in a research report on Tuesday, March 4th. Wells Fargo & Company increased their price target on shares of Okta from $95.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Finally, DA Davidson raised their price objective on shares of Okta from $125.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $117.74.
Check Out Our Latest Stock Analysis on OKTA
Insider Activity at Okta
In other news, insider Larissa Schwartz sold 11,552 shares of the 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 owns 22,125 shares in the company, valued at approximately $2,524,241.25. This represents a 34.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was 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. Insiders sold a total of 154,452 shares of company stock valued at $16,347,360 in the last three months. 5.68% of the stock is currently owned by company insiders.
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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