Okta, Inc. (NASDAQ:OKTA) Shares Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC lifted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 160.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,482 shares of the company’s stock after acquiring an additional 9,541 shares during the quarter. Wealthfront Advisers LLC’s holdings in Okta were worth $1,220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in OKTA. Point72 Asset Management L.P. acquired a new position in shares of Okta during the 3rd quarter valued at $49,373,000. Nordea Investment Management AB increased its stake in Okta by 1,150.2% during the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock worth $33,146,000 after buying an additional 382,190 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Okta by 138.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock worth $43,721,000 after buying an additional 322,201 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Okta by 105.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock worth $26,627,000 after buying an additional 184,107 shares during the period. Finally, Candriam S.C.A. increased its stake in Okta by 146.1% during the 4th quarter. Candriam S.C.A. now owns 235,650 shares of the company’s stock worth $18,569,000 after buying an additional 139,877 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

OKTA has been the topic of several analyst reports. Scotiabank lifted their price target on shares of Okta from $94.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 4th. Westpark Capital reaffirmed a “buy” rating and set a $140.00 price target on shares of Okta in a research note on Friday, February 28th. BTIG Research reaffirmed a “buy” rating on shares of Okta in a research note on Tuesday, March 4th. UBS Group set a $135.00 target price on shares of Okta in a research report on Tuesday, March 4th. Finally, Oppenheimer boosted their target price on shares of Okta from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $114.39.

Okta Trading Up 5.6 %

Shares of NASDAQ:OKTA opened at $112.55 on Friday. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $116.96. The firm has a market cap of $19.29 billion, a P/E ratio of -321.57, a P/E/G ratio of 6.42 and a beta of 1.09. The company has a 50 day moving average of $94.58 and a 200-day moving average of $83.26. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.

Insider Activity at Okta

In other news, insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the sale, the insider now owns 24,462 shares in the company, valued at $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total transaction of $13,650,000.00. The disclosure for this sale can be found here. Insiders sold a total of 979,482 shares of company stock valued at $88,072,216 over the last ninety days. Insiders own 7.00% of the company’s stock.

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.