Stephens Investment Management Group LLC Has $35.64 Million Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Stephens Investment Management Group LLC lifted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 10.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 452,307 shares of the company’s stock after buying an additional 42,176 shares during the period. Stephens Investment Management Group LLC’s holdings in Okta were worth $35,642,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of OKTA. Itau Unibanco Holding S.A. bought a new position in shares of Okta in the third quarter worth about $25,000. Blue Trust Inc. increased its position in Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in Okta in the third quarter valued at approximately $32,000. Modus Advisors LLC acquired a new stake in Okta in the fourth quarter valued at approximately $44,000. Finally, Planning Capital Management Corp bought a new stake in shares of Okta during the third quarter worth $49,000. 86.64% of the stock is currently owned by institutional investors.

Okta Price Performance

Shares of NASDAQ OKTA opened at $97.00 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $85.99 and a 200-day moving average price of $82.10. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $114.50.

Insider Buying and Selling at Okta

In other Okta news, CFO Brett Tighe sold 5,000 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $94.76, for a total value of $473,800.00. Following the completion of the sale, the chief financial officer now owns 97,533 shares in the company, valued at approximately $9,242,227.08. This trade represents a 4.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jacques Frederic Kerrest sold 65,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $97.50, for a total value of $6,337,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 978,168 shares of company stock worth $84,758,269. Insiders own 7.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on OKTA. BMO Capital Markets raised their price objective on Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Truist Financial reissued a “hold” rating and set a $92.00 price target (up from $80.00) on shares of Okta in a research note on Wednesday, December 4th. Morgan Stanley raised Okta from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $92.00 to $97.00 in a research note on Monday, December 2nd. Scotiabank reduced their target price on shares of Okta from $96.00 to $94.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. Finally, Canaccord Genuity Group raised their price target on shares of Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Okta presently has an average rating of “Hold” and an average price target 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.