Quarry LP Buys 3,254 Shares of Okta, Inc. (NASDAQ:OKTA)

Quarry LP increased its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 268.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,464 shares of the company's stock after acquiring an additional 3,254 shares during the quarter. Quarry LP's holdings in Okta were worth $352,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in OKTA. Johnson Financial Group Inc. acquired a new stake in Okta during the 4th quarter worth about $61,000. Boothbay Fund Management LLC grew its stake in Okta by 58.9% during the fourth quarter. Boothbay Fund Management LLC now owns 30,528 shares of the company's stock worth $2,406,000 after purchasing an additional 11,311 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Okta during the fourth quarter worth approximately $15,661,000. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in Okta by 85.4% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 11,588 shares of the company's stock worth $922,000 after purchasing an additional 5,339 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Okta in the fourth quarter valued at approximately $27,580,000. 86.64% of the stock is currently owned by institutional investors.

Insider Activity at Okta

In related news, Director Jacques Frederic Kerrest sold 130,000 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $93.00, for a total transaction of $12,090,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 2,740 shares of the firm's stock in a transaction 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 transaction, the insider now directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 362,192 shares of company stock worth $35,988,856. 7.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on OKTA shares. Susquehanna lifted their price objective on shares of Okta from $95.00 to $105.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Jefferies Financial Group upped their price objective on shares of Okta from $90.00 to $110.00 and gave the company a "hold" rating in a report on Tuesday, March 4th. Robert W. Baird raised their target price on Okta from $115.00 to $130.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. DA Davidson raised Okta from a "neutral" rating to a "buy" rating and boosted their target price for the company from $90.00 to $125.00 in a research report on Tuesday, March 4th. Finally, Citigroup increased their price target on Okta from $100.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $116.12.

Okta Trading Up 1.8 %

Shares of OKTA stock opened at $103.38 on Monday. The stock has a market capitalization of $17.95 billion, a price-to-earnings ratio of -295.37, a PEG ratio of 6.42 and a beta of 1.07. The company's fifty day simple moving average is $102.42 and its two-hundred day simple moving average is $89.58. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $118.07. 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 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.

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