Okta, Inc. (NASDAQ:OKTA) Stock Position Boosted by Forsta AP Fonden

Forsta AP Fonden grew its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 40.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,900 shares of the company’s stock after buying an additional 21,300 shares during the quarter. Forsta AP Fonden’s holdings in Okta were worth $5,823,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Smith Group Asset Management LLC raised its holdings in Okta by 57.7% during the fourth quarter. Smith Group Asset Management LLC now owns 221,401 shares of the company’s stock worth $17,446,000 after purchasing an additional 80,969 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Okta by 162.8% in the 4th quarter. Pacer Advisors Inc. now owns 29,103 shares of the company’s stock worth $2,293,000 after buying an additional 18,029 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Okta by 103.8% in the fourth quarter. Blue Trust Inc. now owns 758 shares of the company’s stock valued at $56,000 after buying an additional 386 shares during the period. Linden Thomas Advisory Services LLC boosted its stake in Okta by 6.6% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 16,130 shares of the company’s stock valued at $1,271,000 after buying an additional 1,004 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in Okta by 149.3% during the fourth quarter. Geneos Wealth Management Inc. now owns 10,466 shares of the company’s stock valued at $825,000 after buying an additional 6,268 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Insider Transactions at Okta

In other news, CFO Brett Tighe sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total transaction of $445,000.00. Following the completion of the transaction, the chief financial officer now directly owns 112,533 shares of the company’s stock, valued at approximately $10,015,437. This trade represents a 4.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Mckinnon sold 233,028 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 910,959 shares of company stock worth $78,146,525. 7.00% of the stock is owned by corporate insiders.

Okta Trading Up 0.5 %

Shares of NASDAQ:OKTA opened at $94.22 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $16.14 billion, a PE ratio of -269.20, a P/E/G ratio of 9.49 and a beta of 1.00. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $114.50. The firm has a fifty day moving average price of $84.07 and a 200 day moving average price of $82.20.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on OKTA shares. Truist Financial reissued a “hold” rating and issued a $92.00 price target (up from $80.00) on shares of Okta in a report on Wednesday, December 4th. JPMorgan Chase & Co. raised shares of Okta from a “neutral” rating to an “overweight” rating and set a $100.00 target price for the company in a research note on Monday, December 16th. Needham & Company LLC raised their target price on shares of Okta from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. Finally, Morgan Stanley raised Okta from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $92.00 to $97.00 in a research note on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Okta presently has an average rating of “Hold” and a consensus price target of $104.55.

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.