AQR Capital Management LLC Acquires 762,460 Shares of Okta, Inc. (NASDAQ:OKTA)

AQR Capital Management LLC lifted its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 874.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 849,642 shares of the company's stock after buying an additional 762,460 shares during the period. AQR Capital Management LLC owned approximately 0.50% of Okta worth $66,952,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of OKTA. Bank of Jackson Hole Trust purchased a new position in shares of Okta during the fourth quarter valued at approximately $25,000. TD Private Client Wealth LLC lifted its holdings 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 valued at $37,000 after buying an additional 456 shares during the period. Brown Brothers Harriman & Co. purchased a new position in shares of Okta in the 4th quarter worth $43,000. Modus Advisors LLC bought a new position in Okta in the fourth quarter valued at about $44,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in Okta in the fourth quarter worth about $44,000. 86.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Larissa Schwartz sold 2,740 shares of Okta stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $97.59, for a total transaction of $267,396.60. Following the completion of the sale, the insider now owns 22,125 shares of the company's stock, valued at approximately $2,159,178.75. The trade was a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eric Robert Kelleher sold 5,895 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $113.75, for a total value of $670,556.25. Following the completion of the transaction, the insider now directly owns 9,828 shares in the company, valued at approximately $1,117,935. This trade represents a 37.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 222,192 shares of company stock valued at $22,952,256. Insiders own 7.00% of the company's stock.

Okta Trading Up 0.9 %

OKTA stock traded up $1.04 during mid-day trading on Friday, reaching $112.90. 2,521,712 shares of the stock traded hands, compared to its average volume of 2,735,017. Okta, Inc. has a one year low of $70.56 and a one year high of $118.07. The business has a 50-day moving average price of $104.20 and a two-hundred day moving average price of $90.66. The stock has a market capitalization of $19.60 billion, a PE ratio of -322.57, a PEG 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.

Wall Street Analysts Forecast Growth

OKTA has been the topic of several recent research reports. Royal Bank of Canada increased their price objective on shares of Okta from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 4th. Needham & Company LLC restated a "buy" rating and issued a $115.00 price objective on shares of Okta in a research note on Tuesday, March 4th. KeyCorp upped their price target on Okta from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. Jefferies Financial Group boosted their price objective on Okta from $90.00 to $110.00 and gave the company a "hold" rating in a research note on Tuesday, March 4th. Finally, UBS Group set a $135.00 target price on shares of Okta in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $116.12.

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.