Hel Ved Capital Management Ltd Invests $528,000 in Okta, Inc. (NASDAQ:OKTA)

Hel Ved Capital Management Ltd acquired a new position in Okta, Inc. (NASDAQ:OKTA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,700 shares of the company’s stock, valued at approximately $528,000.

A number of other institutional investors and hedge funds have also bought and sold shares of OKTA. The Manufacturers Life Insurance Company lifted its stake in shares of Okta by 3.3% in the third quarter. The Manufacturers Life Insurance Company now owns 7,737 shares of the company’s stock valued at $575,000 after buying an additional 250 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Okta in the 3rd quarter worth approximately $482,000. Benjamin Edwards Inc. acquired a new stake in shares of Okta during the 3rd quarter worth approximately $505,000. Investment Management Corp of Ontario increased its position in shares of Okta by 47.0% during the third quarter. Investment Management Corp of Ontario now owns 5,317 shares of the company’s stock valued at $395,000 after purchasing an additional 1,700 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in shares of Okta in the third quarter valued at $548,000. Institutional investors own 86.64% of the company’s stock.

Okta Trading Down 8.3 %

Shares of NASDAQ:OKTA opened at $91.93 on Friday. The stock has a market cap of $15.96 billion, a PE ratio of -262.66, a P/E/G ratio of 6.42 and a beta of 1.06. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $118.07. The business has a 50 day moving average of $101.64 and a 200-day moving average of $86.67.

Insider Activity

In other news, insider Larissa Schwartz sold 2,704 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $89.58, for a total transaction of $242,224.32. Following the completion of the sale, the insider now owns 23,311 shares of the company’s stock, valued at approximately $2,088,199.38. This represents a 10.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction that occurred on 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 in the company, valued at $10,015,437. This trade represents a 4.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 761,197 shares of company stock valued at $70,662,533. 7.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

OKTA has been the subject of a number of analyst reports. Stephens assumed coverage on shares of Okta in a report on Tuesday. They set an “equal weight” rating and a $127.00 price objective for the company. Sanford C. Bernstein decreased their price objective on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a report on Tuesday, December 17th. Truist Financial increased their target price on Okta from $92.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. Jefferies Financial Group increased their price objective on Okta from $90.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. Finally, Robert W. Baird boosted their target price on shares of Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $116.09.

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.