Okta, Inc. (NASDAQ:OKTA) Shares Bought by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC boosted its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 70.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 191,010 shares of the company's stock after acquiring an additional 79,132 shares during the period. Frontier Capital Management Co. LLC owned about 0.11% of Okta worth $15,052,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in OKTA. Norges Bank acquired a new position in Okta during the fourth quarter worth $234,992,000. Ameriprise Financial Inc. raised its position in Okta by 2,135.7% during the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock worth $150,845,000 after acquiring an additional 1,828,630 shares during the period. Alyeska Investment Group L.P. raised its position in Okta by 2,309.4% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company's stock worth $139,693,000 after acquiring an additional 1,699,176 shares during the period. Marshall Wace LLP raised its position in Okta by 35.5% during the fourth quarter. Marshall Wace LLP now owns 3,583,937 shares of the company's stock worth $282,414,000 after acquiring an additional 938,509 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Okta by 874.6% in the fourth quarter. AQR Capital Management LLC now owns 849,642 shares of the company's stock valued at $66,952,000 after buying an additional 762,460 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Trading Down 1.1%

Shares of Okta stock traded down $1.30 on Friday, reaching $119.45. The company had a trading volume of 1,933,187 shares, compared to its average volume of 2,763,636. The firm's 50 day moving average price is $106.73 and its two-hundred day moving average price is $92.34. The firm has a market cap of $20.74 billion, a PE ratio of -341.29, a PEG ratio of 6.42 and a beta of 0.96. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $121.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Insider Activity at Okta

In related news, CRO Jonathan James Addison sold 7,005 shares of Okta stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $101.19, for a total value of $708,835.95. Following the completion of the transaction, the executive now owns 19,067 shares in the company, valued at approximately $1,929,389.73. The trade was a 26.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jacques Frederic Kerrest sold 130,000 shares of Okta 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 157,192 shares of company stock worth $16,614,756. Corporate insiders own 7.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on OKTA shares. Roth Capital started coverage on shares of Okta in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $119.00 target price for the company. Jefferies Financial Group increased their target price on shares of Okta from $90.00 to $110.00 and gave the company a "hold" rating in a research report on Tuesday, March 4th. Canaccord Genuity Group increased their target price on shares of Okta from $94.00 to $100.00 and gave the company a "hold" rating in a research report on Tuesday, March 4th. Oppenheimer increased their target price on shares of Okta from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Finally, KeyCorp increased their target price on shares of Okta from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $116.80.

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.