Commerce Bank acquired a new stake in shares of Okta, Inc. (NASDAQ:OKTA – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,544 shares of the company’s stock, valued at approximately $242,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Glassman Wealth Services lifted its holdings in Okta by 150.7% during the fourth quarter. Glassman Wealth Services now owns 361 shares of the company’s stock valued at $25,000 after purchasing an additional 217 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in Okta by 107.1% during the fourth quarter. Lindbrook Capital LLC now owns 522 shares of the company’s stock valued at $36,000 after purchasing an additional 270 shares in the last quarter. Alpha Paradigm Partners LLC purchased a new position in Okta during the third quarter valued at $41,000. EverSource Wealth Advisors LLC purchased a new position in Okta during the fourth quarter valued at $42,000. Finally, AM Squared Ltd purchased a new position in Okta during the fourth quarter valued at $48,000. 73.02% of the stock is owned by hedge funds and other institutional investors.
Okta Trading Up 4.2 %
Shares of NASDAQ:OKTA opened at $88.10 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.20 and a current ratio of 2.20. Okta, Inc. has a twelve month low of $44.12 and a twelve month high of $111.35. The firm has a 50 day simple moving average of $78.61 and a 200-day simple moving average of $71.97.
Analyst Upgrades and Downgrades
OKTA has been the topic of several research reports. Canaccord Genuity Group raised their price target on shares of Okta from $70.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, March 2nd. BMO Capital Markets raised their price target on shares of Okta from $80.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, March 2nd. Morgan Stanley raised their price target on shares of Okta from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 28th. Truist Financial raised their price target on shares of Okta from $60.00 to $75.00 in a research note on Thursday, March 2nd. Finally, Wells Fargo & Company raised their price target on shares of Okta from $76.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, March 2nd. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $86.71.
Insider Activity at Okta
In related news, CEO Todd Mckinnon sold 3,117 shares of the company’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $82.48, for a total value of $257,090.16. Following the completion of the sale, the chief executive officer now owns 22,813 shares in the company, valued at approximately $1,881,616.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Todd Mckinnon sold 3,117 shares of the company’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $82.48, for a total value of $257,090.16. Following the completion of the sale, the chief executive officer now owns 22,813 shares in the company, valued at approximately $1,881,616.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Larissa Schwartz sold 452 shares of the company’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $82.48, for a total transaction of $37,280.96. Following the completion of the sale, the insider now owns 20,149 shares of the company’s stock, valued at approximately $1,661,889.52. The disclosure for this sale can be found here. Insiders sold a total of 6,473 shares of company stock worth $533,244 in the last 90 days. 7.36% of the stock is owned by insiders.
About Okta
Okta, Inc engages in the provision of an identity management platform for enterprises. It operates through the United States and International geographical segments. The firm’s products include single sign-on, multi-factor authentication, API access management, authentication, user management, and lifecycle management.
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