Bristlecone Advisors LLC Purchases 1,719 Shares of Okta, Inc. (NASDAQ:OKTA)

Bristlecone Advisors LLC lifted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 35.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,607 shares of the company’s stock after buying an additional 1,719 shares during the quarter. Bristlecone Advisors LLC’s holdings in Okta were worth $521,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new stake in shares of Okta during the third quarter valued at approximately $25,000. Blue Trust Inc. increased its position in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after acquiring an additional 191 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Okta during the third quarter valued at approximately $32,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Okta during the fourth quarter valued at approximately $44,000. Finally, Modus Advisors LLC bought a new stake in shares of Okta during the fourth quarter valued at approximately $44,000. Institutional investors own 86.64% of the company’s stock.

Okta Stock Up 0.7 %

Shares of OKTA stock opened at $97.66 on Tuesday. The stock has a market cap of $16.73 billion, a P/E ratio of -279.03, a PEG ratio of 6.58 and a beta of 1.03. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $114.50. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $86.33 and its two-hundred day simple moving average is $82.06.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on OKTA shares. Guggenheim restated a “buy” rating and issued a $130.00 target price on shares of Okta in a report on Wednesday, December 4th. Morgan Stanley upgraded shares of Okta from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $92.00 to $97.00 in a report on Monday, December 2nd. KeyCorp upgraded shares of Okta from a “sector weight” rating to an “overweight” rating and set a $115.00 target price on the stock in a report on Thursday, December 19th. Mizuho dropped their target price on shares of Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Finally, Stifel Nicolaus raised their target price on shares of Okta from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $104.55.

Insiders Place Their Bets

In other news, CFO Brett Tighe sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total transaction of $445,000.00. Following the sale, the chief financial officer now directly owns 112,533 shares in the company, valued at approximately $10,015,437. This represents a 4.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Larissa Schwartz sold 2,704 shares of the company’s stock in a transaction dated 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. This represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 978,168 shares of company stock worth $84,758,269 in the last 90 days. 7.00% of the stock is currently owned by corporate insiders.

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.