Okta, Inc. (NASDAQ:OKTA) Shares Bought by Man Group plc

Man Group plc raised its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 34.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 508,309 shares of the company's stock after purchasing an additional 130,271 shares during the quarter. Man Group plc owned 0.30% of Okta worth $40,055,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Frank Rimerman Advisors LLC lifted its position in Okta by 2.4% in the fourth quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company's stock valued at $352,000 after purchasing an additional 105 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Okta by 1.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company's stock valued at $620,000 after acquiring an additional 136 shares in the last quarter. Stephens Inc. AR raised its holdings in shares of Okta by 5.0% during the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company's stock valued at $260,000 after acquiring an additional 157 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Okta by 3.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,646 shares of the company's stock valued at $445,000 after acquiring an additional 171 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Okta by 2.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company's stock valued at $605,000 after acquiring an additional 180 shares in the last quarter. Institutional investors own 86.64% of the company's stock.

Okta Stock Up 2.3%

NASDAQ:OKTA traded up $2.91 during mid-day trading on Friday, hitting $127.30. 3,024,299 shares of the company's stock traded hands, compared to its average volume of 2,782,041. The company has a fifty day moving average of $108.15 and a 200 day moving average of $94.00. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $127.57. The company has a market capitalization of $22.10 billion, a P/E ratio of -363.71, a P/E/G ratio of 6.42 and a beta of 0.96. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Analyst Ratings Changes

A number of equities analysts recently commented on OKTA shares. Cantor Fitzgerald started coverage on Okta in a report on Monday, March 31st. They set an "overweight" rating and a $130.00 target price for the company. Susquehanna upped their target price on Okta from $95.00 to $105.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. The Goldman Sachs Group upped their target price on Okta from $107.00 to $123.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Royal Bank of Canada upped their target price on Okta from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Finally, DA Davidson increased their price objective on Okta from $125.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $117.74.

Insider Activity at Okta

In other Okta news, CRO Jonathan James Addison sold 7,005 shares of the firm's stock in a transaction that occurred on Friday, April 11th. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 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 have sold 154,452 shares of company stock valued at $16,347,360 in the last ninety days. Corporate insiders own 5.68% of the company's stock.

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.