Schonfeld Strategic Advisors LLC Acquires 46,527 Shares of Okta, Inc. (NASDAQ:OKTA)

Schonfeld Strategic Advisors LLC increased its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 471.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,390 shares of the company's stock after buying an additional 46,527 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Okta were worth $4,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Okta during the third quarter valued at approximately $108,000. Tidal Investments LLC raised its stake in shares of Okta by 132.0% during the third quarter. Tidal Investments LLC now owns 25,103 shares of the company's stock valued at $1,866,000 after acquiring an additional 14,283 shares during the last quarter. Modus Advisors LLC purchased a new stake in shares of Okta during the fourth quarter worth about $44,000. Everence Capital Management Inc. bought a new stake in shares of Okta in the fourth quarter worth about $355,000. Finally, Nordea Investment Management AB raised its position in Okta by 1,150.2% during the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company's stock valued at $33,146,000 after purchasing an additional 382,190 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company's stock.

Analysts Set New Price Targets

OKTA has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their target price on Okta from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Canaccord Genuity Group boosted their price target on shares of Okta from $94.00 to $100.00 and gave the company a "hold" rating in a research report on Tuesday, March 4th. Oppenheimer upped their target price on Okta from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. BMO Capital Markets lifted their price target on Okta from $105.00 to $130.00 and gave the company a "market perform" rating in a research report on Monday, March 10th. Finally, Citigroup raised their price objective on Okta from $100.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Okta currently has an average rating of "Moderate Buy" and an average price target of $116.80.

Okta Stock Up 1.2 %

Shares of NASDAQ:OKTA traded up $1.36 during midday trading on Tuesday, reaching $117.07. 2,773,251 shares of the company were exchanged, compared to its average volume of 2,736,712. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $118.11. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $104.72 and a two-hundred day simple moving average of $91.06. The firm has a market cap of $20.32 billion, a PE ratio of -334.49, a P/E/G ratio of 6.42 and a beta of 0.96.

Insider Transactions at Okta

In other news, CRO Jonathan James Addison sold 7,005 shares of the company's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $101.19, for a total value of $708,835.95. Following the sale, the executive now directly owns 19,067 shares of the company's stock, valued at approximately $1,929,389.73. This represents a 26.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Larissa Schwartz sold 2,740 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total transaction of $267,396.60. Following the transaction, the insider now directly owns 22,125 shares in the company, valued at approximately $2,159,178.75. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 222,192 shares of company stock worth $22,952,256 over the last quarter. Company insiders own 7.00% of the company's stock.

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.