GenTrust LLC Invests $311,000 in Okta, Inc. (NASDAQ:OKTA)

GenTrust LLC bought a new position in Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,945 shares of the company’s stock, valued at approximately $311,000.

Several other institutional investors have also recently made changes to their positions in OKTA. Point72 Asset Management L.P. bought a new stake in shares of Okta in the 3rd quarter worth $49,373,000. Nordea Investment Management AB grew its stake in shares of Okta by 1,150.2% in the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock worth $33,146,000 after acquiring an additional 382,190 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Okta by 138.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock valued at $43,721,000 after buying an additional 322,201 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Okta by 232.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock valued at $29,479,000 after buying an additional 277,084 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Okta by 105.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock valued at $26,627,000 after buying an additional 184,107 shares during the period. Institutional investors own 86.64% of the company’s stock.

Analysts Set New Price Targets

OKTA has been the subject of several research reports. KeyCorp increased their price target on shares of Okta from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. BTIG Research increased their price target on shares of Okta from $98.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. DA Davidson increased their price target on shares of Okta from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Jefferies Financial Group reduced their price target on shares of Okta from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Finally, UBS Group increased their price target on shares of Okta from $108.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Okta currently has an average rating of “Hold” and a consensus target price of $106.13.

Insider Activity at Okta

In related news, Director Jacques Frederic Kerrest sold 131,426 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $80.68, for a total value of $10,603,449.68. Following the sale, the director now directly owns 1,622 shares of the company’s stock, valued at $130,862.96. This trade represents a 98.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $80.50, for a total transaction of $217,672.00. Following the transaction, the insider now directly owns 24,462 shares in the company, valued at $1,969,191. This trade represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 980,908 shares of company stock valued at $85,025,665 over the last three months. 7.00% of the stock is owned by corporate insiders.

Okta Trading Up 0.3 %

Shares of OKTA opened at $89.58 on Thursday. The firm’s 50 day simple moving average is $89.01 and its 200 day simple moving average is $82.57. The company has a market capitalization of $15.35 billion, a P/E ratio of -255.94, a P/E/G ratio of 6.42 and a beta of 1.03. 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 1-year low of $70.56 and a 1-year high of $114.50.

About Okta

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.