Okta, Inc. (NASDAQ:OKTA) Shares Purchased by Stifel Financial Corp

Stifel Financial Corp grew its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 86.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,426 shares of the company's stock after acquiring an additional 32,168 shares during the period. Stifel Financial Corp's holdings in Okta were worth $5,471,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of OKTA. Tower Research Capital LLC TRC boosted its holdings in Okta by 46.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,833 shares of the company's stock worth $854,000 after purchasing an additional 3,429 shares in the last quarter. MML Investors Services LLC boosted its stake in shares of Okta by 7.5% during the 4th quarter. MML Investors Services LLC now owns 35,818 shares of the company's stock worth $2,822,000 after acquiring an additional 2,485 shares in the last quarter. Formula Growth Ltd. raised its stake in shares of Okta by 9.4% in the 4th quarter. Formula Growth Ltd. now owns 70,000 shares of the company's stock valued at $5,516,000 after acquiring an additional 6,000 shares in the last quarter. Forum Financial Management LP acquired a new stake in Okta in the 4th quarter worth approximately $333,000. Finally, GeoWealth Management LLC grew its holdings in Okta by 67.9% during the fourth quarter. GeoWealth Management LLC now owns 1,011 shares of the company's stock valued at $80,000 after purchasing an additional 409 shares during the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OKTA has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price objective on Okta from $125.00 to $123.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Citigroup boosted their target price on shares of Okta from $100.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Stifel Nicolaus increased their price target on shares of Okta from $115.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. UBS Group set a $135.00 price objective on shares of Okta in a research report on Tuesday, March 4th. Finally, Mizuho raised Okta from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $110.00 to $127.00 in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $116.12.

Okta Price Performance

Okta stock traded up $1.04 during mid-day trading on Friday, hitting $112.90. The stock had a trading volume of 2,521,712 shares, compared to its average volume of 2,727,710. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm's 50 day moving average is $104.20 and its 200 day moving average is $90.56. The firm has a market capitalization of $19.60 billion, a P/E ratio of -322.57, a P/E/G ratio of 6.42 and a beta of 0.96. Okta, Inc. has a one year low of $70.56 and a one year high of $118.07.

Insiders Place Their Bets

In other Okta news, CRO Jonathan James Addison sold 7,005 shares of the stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $101.19, for a total transaction of $708,835.95. Following the transaction, the executive now directly owns 19,067 shares in the company, valued at $1,929,389.73. This represents a 26.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jacques Frederic Kerrest sold 130,000 shares of Okta stock in a transaction on Tuesday, March 4th. The shares were 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 a total of 222,192 shares of company stock valued at $22,952,256 in the last quarter. 7.00% of the stock is currently owned by insiders.

About Okta

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.