Okta, Inc. (NASDAQ:OKTA) Holdings Lifted by Paloma Partners Management Co

Paloma Partners Management Co increased its stake in Okta, Inc. (NASDAQ:OKTA) by 1,619.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,053 shares of the company’s stock after acquiring an additional 211,021 shares during the period. Okta makes up approximately 0.8% of Paloma Partners Management Co’s investment portfolio, making the stock its 28th biggest position. Paloma Partners Management Co owned approximately 0.13% of Okta worth $17,655,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Ion Asset Management Ltd. boosted its holdings in shares of Okta by 1,073.6% in the fourth quarter. Ion Asset Management Ltd. now owns 204,200 shares of the company’s stock valued at $16,091,000 after acquiring an additional 186,800 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Okta by 874.6% in the fourth quarter. AQR Capital Management LLC now owns 849,642 shares of the company’s stock valued at $66,952,000 after acquiring an additional 762,460 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Okta by 11.8% in the fourth quarter. Northern Trust Corp now owns 1,001,027 shares of the company’s stock valued at $78,881,000 after acquiring an additional 105,918 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Okta by 1.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company’s stock valued at $620,000 after acquiring an additional 136 shares in the last quarter. Finally, Optiver Holding B.V. boosted its holdings in shares of Okta by 21,433.3% in the fourth quarter. Optiver Holding B.V. now owns 1,292 shares of the company’s stock valued at $102,000 after acquiring an additional 1,286 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on OKTA. Stephens began coverage on shares of Okta in a research note on Tuesday, April 1st. They set an “equal weight” rating and a $127.00 target price for the company. Wells Fargo & Company increased their target price on shares of Okta from $95.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Oppenheimer increased their target price on shares of Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Scotiabank increased their target price on shares of Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 4th. Finally, Barclays increased their target price on shares of Okta from $105.00 to $115.00 and gave the company an “equal weight” 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, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $116.12.

Insider Activity at Okta

In other Okta news, CRO Jonathan James Addison sold 7,005 shares of the business’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $101.19, for a total transaction of $708,835.95. Following the completion of the sale, the executive now directly owns 19,067 shares of the company’s stock, valued at approximately $1,929,389.73. The trade was a 26.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Larissa Schwartz sold 2,740 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total value of $267,396.60. Following the sale, the insider now directly owns 22,125 shares of the company’s stock, valued at $2,159,178.75. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 227,192 shares of company stock valued at $23,426,056 over the last ninety days. 7.00% of the stock is owned by insiders.

Okta Stock Up 1.4 %

NASDAQ OKTA opened at $104.79 on Tuesday. The stock’s 50 day simple moving average is $102.57 and its 200 day simple moving average is $89.78. 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 $118.07. The firm has a market cap of $18.19 billion, a PE ratio of -299.40, a price-to-earnings-growth ratio of 6.42 and a beta of 1.07.

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.