Greenwood Capital Associates LLC Purchases New Position in Okta, Inc. (NASDAQ:OKTA)

Greenwood Capital Associates LLC acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,653 shares of the company’s stock, valued at approximately $209,000.

Several other hedge funds also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new stake in Okta during the 3rd quarter worth approximately $25,000. Future Financial Wealth Managment LLC bought a new stake in shares of Okta during the third quarter worth $26,000. Blue Trust Inc. grew its holdings in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Okta in the third quarter valued at $32,000. Finally, Modus Advisors LLC bought a new position in shares of Okta in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Buying and Selling

In related news, 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 value of $217,672.00. Following the sale, the insider now owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. This trade represents a 9.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brett Tighe sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $94.76, for a total value of $473,800.00. Following the transaction, the chief financial officer now directly owns 97,533 shares of the company’s stock, valued at approximately $9,242,227.08. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 913,168 shares of company stock worth $78,420,769 over the last ninety days. Company insiders own 7.00% of the company’s stock.

Okta Trading Up 1.3 %

Shares of OKTA opened at $94.41 on Wednesday. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50. 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 firm’s 50 day moving average price is $84.76 and its two-hundred day moving average price is $81.97.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on OKTA shares. DA Davidson increased their price objective on shares of Okta from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Scotiabank lowered their price target on shares of Okta from $96.00 to $94.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. Sanford C. Bernstein dropped their price objective on shares of Okta from $129.00 to $124.00 and set an “outperform” rating for the company in a research report on Tuesday, December 17th. Truist Financial reiterated a “hold” rating and issued a $92.00 price objective (up from $80.00) on shares of Okta in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group boosted their target price on Okta from $97.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.