Allspring Global Investments Holdings LLC increased its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 138.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 554,633 shares of the company's stock after acquiring an additional 322,201 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.32% of Okta worth $43,721,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in Okta in the 3rd quarter valued at approximately $25,000. Blue Trust Inc. lifted its stake in Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company's stock valued at $28,000 after buying an additional 191 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in Okta in the 3rd quarter valued at approximately $32,000. Modus Advisors LLC purchased a new stake in Okta in the 4th quarter valued at approximately $44,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Okta in the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 86.64% of the company's stock.
Okta Stock Down 0.0 %
Shares of NASDAQ OKTA traded down $0.02 during midday trading on Tuesday, reaching $96.27. 1,191,921 shares of the company's stock were exchanged, compared to its average volume of 2,448,164. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $16.50 billion, a PE ratio of -275.16, a price-to-earnings-growth 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 business's fifty day moving average price is $87.68 and its two-hundred day moving average price is $82.21.
Insider Activity at Okta
In related news, CEO Todd Mckinnon sold 233,028 shares of the business's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Larissa Schwartz sold 2,704 shares of the business's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.50, for a total value of $217,672.00. Following the completion of the sale, the insider now directly owns 24,462 shares of the company's stock, valued at approximately $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 sold a total of 980,908 shares of company stock valued at $85,025,665 over the last three months. 7.00% of the stock is owned by insiders.
Analyst Ratings Changes
Several research firms have recently issued reports on OKTA. Susquehanna raised their price objective on Okta from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, December 4th. Scotiabank decreased their price objective on Okta from $96.00 to $94.00 and set a "sector perform" rating on the stock in a report on Tuesday, January 21st. Barclays raised their price objective on Okta from $81.00 to $96.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 4th. Needham & Company LLC restated a "buy" rating and set a $115.00 price objective on shares of Okta in a report on Tuesday, February 4th. Finally, Stifel Nicolaus raised their price objective on Okta from $108.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. One research 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 company currently has an average rating of "Hold" and an average target price of $105.45.
Read Our Latest Research Report on OKTA
Okta Profile
(
Free Report)
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.
See Also
Before you consider Okta, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Okta wasn't on the list.
While Okta currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
