Shapiro Capital Management LLC Has $66.17 Million Holdings in Okta, Inc. (NASDAQ:OKTA)

Shapiro Capital Management LLC raised its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 138.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 839,768 shares of the company's stock after acquiring an additional 487,142 shares during the period. Okta makes up about 2.2% of Shapiro Capital Management LLC's holdings, making the stock its 23rd largest position. Shapiro Capital Management LLC owned 0.49% of Okta worth $66,174,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in OKTA. Marshall Wace LLP boosted its position in shares of Okta by 35.5% during the fourth quarter. Marshall Wace LLP now owns 3,583,937 shares of the company's stock valued at $282,414,000 after buying an additional 938,509 shares during the last quarter. Norges Bank purchased a new position in Okta in the fourth quarter worth $234,992,000. Geode Capital Management LLC raised its stake in shares of Okta by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company's stock valued at $212,385,000 after buying an additional 135,110 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Okta by 236.8% in the fourth quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock valued at $176,271,000 after buying an additional 1,572,786 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of Okta by 2,135.7% in the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock valued at $150,845,000 after buying an additional 1,828,630 shares during the period. Institutional investors and hedge funds own 86.64% of the company's stock.

Insider Buying and Selling at Okta

In other news, CRO Jonathan James Addison sold 7,005 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $101.19, for a total value of $708,835.95. Following the completion of the transaction, the executive now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 11,552 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the transaction, the insider now directly owns 22,125 shares of the company's stock, valued at $2,524,241.25. This represents a 34.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 154,452 shares of company stock valued at $16,347,360 in the last 90 days. Insiders own 7.00% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on OKTA shares. 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. UBS Group set a $135.00 price objective on Okta in a research note on Tuesday, March 4th. Westpark Capital restated a "buy" rating and issued a $140.00 target price on shares of Okta in a research note on Friday, February 28th. Citigroup upped their target price on Okta from $100.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Finally, Scotiabank upped their target price on Okta from $94.00 to $109.00 and gave the stock a "sector perform" 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 issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $117.74.

Okta Trading Up 0.9%

OKTA opened at $124.39 on Friday. The business has a 50 day simple moving average of $107.74 and a two-hundred day simple moving average of $93.48. The firm has a market capitalization of $21.59 billion, a price-to-earnings ratio of -355.40, a PEG ratio of 6.42 and a beta of 0.96. 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, Inc. has a one year low of $70.56 and a one year high of $125.48.

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.

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