Okta, Inc. (NASDAQ:OKTA) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 5.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 236,485 shares of the company's stock after acquiring an additional 12,125 shares during the period. Quantinno Capital Management LP owned approximately 0.14% of Okta worth $18,635,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bank of Jackson Hole Trust purchased a new stake in shares of Okta during the fourth quarter valued at $25,000. TD Private Client Wealth LLC increased its holdings in shares of Okta by 3,507.7% in the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock valued at $37,000 after purchasing an additional 456 shares during the period. Brown Brothers Harriman & Co. acquired a new position in shares of Okta in the fourth quarter valued at about $43,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Okta in the fourth quarter worth about $44,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Okta by 40.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 732 shares of the company's stock worth $58,000 after purchasing an additional 210 shares during the period. Institutional investors and hedge funds own 86.64% of the company's stock.

Insiders Place Their Bets

In other Okta news, insider Larissa Schwartz sold 11,552 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the sale, the insider now owns 22,125 shares in the company, valued at approximately $2,524,241.25. This represents a 34.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was 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. In the last ninety days, insiders sold 154,452 shares of company stock valued at $16,347,360. 5.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

OKTA has been the subject of several recent research reports. Royal Bank of Canada raised their target price on shares of Okta from $115.00 to $120.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. Mizuho upped their target price on Okta from $127.00 to $135.00 and gave the stock an "outperform" rating in a research note on Thursday. Susquehanna raised their target price on Okta from $95.00 to $105.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Westpark Capital reiterated a "buy" rating and issued a $140.00 price objective on shares of Okta in a research report on Friday, February 28th. Finally, Stifel Nicolaus lifted their price target on shares of Okta from $115.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Okta currently has an average rating of "Moderate Buy" and a consensus target price of $117.74.

Okta Stock Performance

NASDAQ OKTA traded down $0.77 on Monday, reaching $126.53. The stock had a trading volume of 679,701 shares, compared to its average volume of 2,773,923. The stock has a market cap of $21.97 billion, a P/E ratio of -362.31, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $127.57. The business's 50-day moving average price is $108.15 and its 200 day moving average price is $94.16. 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 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.