ArrowMark Colorado Holdings LLC Has $130.01 Million Stake in Okta, Inc. (NASDAQ:OKTA)

ArrowMark Colorado Holdings LLC boosted its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,649,906 shares of the company's stock after purchasing an additional 81,170 shares during the quarter. Okta comprises 1.7% of ArrowMark Colorado Holdings LLC's holdings, making the stock its 9th largest holding. ArrowMark Colorado Holdings LLC owned 0.96% of Okta worth $130,013,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Frank Rimerman Advisors LLC lifted its stake in shares of 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 buying an additional 105 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Okta by 1.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company's stock worth $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% in the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company's stock valued at $260,000 after purchasing an additional 157 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Okta by 3.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,646 shares of the company's stock valued at $445,000 after purchasing an additional 171 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position 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 purchasing an additional 180 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Jacques Frederic Kerrest sold 130,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total transaction of $13,650,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Jonathan James Addison sold 7,005 shares of the firm's stock in a transaction dated 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 in the company, valued at $1,929,389.73. The trade was a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,192 shares of company stock valued at $16,614,756. Insiders own 7.00% of the company's stock.

Okta Trading Up 0.9 %

Okta stock traded up $1.00 during mid-day trading on Wednesday, hitting $118.07. The company's stock had a trading volume of 2,114,943 shares, compared to its average volume of 2,738,731. The business has a 50 day moving average price of $105.28 and a 200-day moving average price of $91.24. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $118.60. The stock has a market cap of $20.50 billion, a price-to-earnings ratio of -337.33, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on OKTA shares. Scotiabank boosted their price objective on Okta from $94.00 to $109.00 and gave the stock a "sector perform" rating in a research report on Tuesday, March 4th. Mizuho upgraded shares of Okta from a "neutral" rating to an "outperform" rating and increased their price target for the company from $110.00 to $127.00 in a research report on Tuesday, March 4th. Citigroup raised their price objective on shares of Okta from $100.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Cantor Fitzgerald started coverage on shares of Okta in a research note on Monday, March 31st. They issued an "overweight" rating and a $130.00 target price on the stock. Finally, Barclays raised their price target on shares of Okta from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $116.80.

Okta Company 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.