Diversified Trust Co increased its stake in Okta, Inc. (NASDAQ:OKTA – Get Rating) by 17.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,565 shares of the company’s stock after purchasing an additional 2,604 shares during the period. Diversified Trust Co’s holdings in Okta were worth $1,515,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of OKTA. Comerica Bank lifted its stake in Okta by 50.9% during the 4th quarter. Comerica Bank now owns 100,828 shares of the company’s stock valued at $7,171,000 after acquiring an additional 34,027 shares during the period. CI Investments Inc. lifted its stake in Okta by 10.5% during the 3rd quarter. CI Investments Inc. now owns 4,650 shares of the company’s stock valued at $264,000 after acquiring an additional 441 shares during the period. Balentine LLC acquired a new stake in Okta during the 4th quarter valued at approximately $356,000. Nordea Investment Management AB lifted its stake in Okta by 14.9% during the 4th quarter. Nordea Investment Management AB now owns 11,073 shares of the company’s stock valued at $757,000 after acquiring an additional 1,437 shares during the period. Finally, Bristlecone Advisors LLC lifted its stake in Okta by 18.4% during the 4th quarter. Bristlecone Advisors LLC now owns 5,077 shares of the company’s stock valued at $347,000 after acquiring an additional 790 shares during the period. 76.57% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, insider Larissa Schwartz sold 1,958 shares of the business’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $75.60, for a total transaction of $148,024.80. Following the transaction, the insider now owns 20,522 shares of the company’s stock, valued at approximately $1,551,463.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Larissa Schwartz sold 1,958 shares of the business’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $75.60, for a total transaction of $148,024.80. Following the transaction, the insider now owns 20,522 shares of the company’s stock, valued at approximately $1,551,463.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Brett Tighe sold 4,380 shares of the business’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $75.60, for a total transaction of $331,128.00. Following the transaction, the chief financial officer now directly owns 48,516 shares in the company, valued at approximately $3,667,809.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,530 shares of company stock valued at $1,022,907. 7.36% of the stock is currently owned by insiders.
Okta Price Performance
Analysts Set New Price Targets
Several analysts have commented on OKTA shares. Stephens lifted their price objective on shares of Okta from $70.00 to $84.00 and gave the company an “equal weight” rating in a research note on Thursday, March 2nd. Canaccord Genuity Group lifted their target price on shares of Okta from $70.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, March 2nd. Moffett Nathanson lifted their target price on shares of Okta from $71.00 to $85.00 and gave the company an “underperform” rating in a report on Thursday, March 2nd. Truist Financial lifted their target price on shares of Okta from $60.00 to $75.00 in a report on Thursday, March 2nd. Finally, Needham & Company LLC lifted their target price on shares of Okta from $90.00 to $100.00 in a report on Thursday, March 2nd. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, Okta has an average rating of “Hold” and a consensus price target of $86.13.
Okta Profile
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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