Numerai GP LLC Takes Position in Okta, Inc. (NASDAQ:OKTA)

Numerai GP LLC bought a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,171 shares of the company's stock, valued at approximately $329,000.

Several other large investors have also made changes to their positions in the company. Bank of Jackson Hole Trust bought a new stake in Okta during the 4th quarter worth about $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. bought a new stake in shares of Okta during the fourth quarter worth approximately $43,000. Wingate Wealth Advisors Inc. acquired a new position in Okta in the fourth quarter valued at approximately $44,000. Finally, Blue Trust Inc. boosted its stake in Okta by 103.8% in the fourth quarter. Blue Trust Inc. now owns 758 shares of the company's stock valued at $56,000 after acquiring an additional 386 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Insider Buying and Selling

In other news, CRO Jonathan James Addison sold 7,005 shares of the 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 completion of the sale, the executive now directly owns 19,067 shares of the company's stock, valued at $1,929,389.73. This represents a 26.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Larissa Schwartz sold 11,552 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the sale, the insider now directly owns 22,125 shares of the company's stock, valued at $2,524,241.25. The trade was a 34.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 154,452 shares of company stock worth $16,347,360 in the last ninety days. Corporate insiders own 5.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. DA Davidson upped their price objective on Okta from $125.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Loop Capital assumed coverage on shares of Okta in a report on Monday, May 5th. They set a "buy" rating and a $140.00 target price for the company. Barclays boosted their target price on shares of Okta from $105.00 to $115.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Royal Bank of Canada raised their price target on Okta from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Finally, UBS Group set a $135.00 target price on shares of Okta 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 assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $118.03.

Okta Stock Down 1.6%

Okta stock traded down $1.99 during mid-day trading on Wednesday, reaching $123.55. The stock had a trading volume of 1,261,331 shares, compared to its average volume of 2,775,720. The firm has a market capitalization of $21.45 billion, a PE ratio of -352.34, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $127.57. The stock's 50-day simple moving average is $108.88 and its 200-day simple moving average is $94.74. 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 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.