Alua Capital Management LP Lowers Position in Okta, Inc. (NASDAQ:OKTA)

Alua Capital Management LP cut its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 78.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 139,915 shares of the company's stock after selling 523,863 shares during the period. Okta makes up approximately 0.7% of Alua Capital Management LP's investment portfolio, making the stock its 18th largest holding. Alua Capital Management LP owned about 0.08% of Okta worth $11,025,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Bank of Jackson Hole Trust acquired a new stake in shares of Okta in the fourth quarter valued at approximately $25,000. TD Private Client Wealth LLC lifted its stake 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 last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Okta during the 4th quarter worth about $43,000. Wingate Wealth Advisors Inc. acquired a new position in Okta in the 4th quarter valued at about $44,000. Finally, Modus Advisors LLC bought a new position in Okta in the 4th quarter valued at about $44,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OKTA has been the subject of several recent research reports. BMO Capital Markets boosted their price target on Okta from $105.00 to $130.00 and gave the company a "market perform" rating in a research note on Monday, March 10th. Canaccord Genuity Group raised their target price on Okta from $94.00 to $100.00 and gave the company a "hold" rating in a report on Tuesday, March 4th. Jefferies Financial Group boosted their price target on Okta from $90.00 to $110.00 and gave the stock a "hold" rating in a report on Tuesday, March 4th. Loop Capital assumed coverage on Okta in a research note on Monday. They issued a "buy" rating and a $140.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on Okta from $95.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Okta has a consensus rating of "Moderate Buy" and a consensus target price of $116.80.

Insider Buying and Selling at Okta

In other Okta news, insider Larissa Schwartz sold 2,740 shares of the firm's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $97.59, for a total value of $267,396.60. Following the completion of the sale, the insider now directly owns 22,125 shares in the company, valued at $2,159,178.75. This trade represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jacques Frederic Kerrest sold 65,000 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $97.50, for a total transaction of $6,337,500.00. The disclosure for this sale can be found here. Insiders sold a total of 222,192 shares of company stock valued at $22,952,256 in the last three months. Company insiders own 7.00% of the company's stock.

Okta Stock Performance

Shares of Okta stock traded up $1.36 on Tuesday, reaching $117.07. 2,773,251 shares of the company traded hands, compared to its average volume of 2,741,225. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $118.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The company has a 50 day moving average of $105.28 and a 200 day moving average of $91.24. The firm has a market capitalization of $20.32 billion, a PE ratio of -334.49, a PEG ratio of 6.42 and a beta of 0.96.

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.