Altrinsic Global Advisors LLC Invests $2.96 Million in Okta, Inc. (NASDAQ:OKTA)

Altrinsic Global Advisors LLC purchased a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 37,558 shares of the company's stock, valued at approximately $2,960,000.

A number of other large investors also recently bought and sold shares of OKTA. SBI Securities Co. Ltd. acquired a new position in shares of Okta during the 4th quarter worth approximately $1,686,000. Nordea Investment Management AB increased its holdings in Okta by 1,150.2% in the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company's stock worth $33,146,000 after acquiring an additional 382,190 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Okta by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company's stock worth $87,903,000 after acquiring an additional 46,064 shares during the period. Westpac Banking Corp lifted its holdings in Okta by 2,574.9% during the fourth quarter. Westpac Banking Corp now owns 9,817 shares of the company's stock valued at $774,000 after purchasing an additional 9,450 shares in the last quarter. Finally, Forsta AP Fonden grew its position in shares of Okta by 40.5% in the fourth quarter. Forsta AP Fonden now owns 73,900 shares of the company's stock valued at $5,823,000 after purchasing an additional 21,300 shares during the period. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Trading Up 2.0 %

Shares of NASDAQ OKTA opened at $94.33 on Wednesday. The stock has a fifty day simple moving average of $102.14 and a 200-day simple moving average of $88.94. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $118.07. 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 stock has a market capitalization of $16.38 billion, a PE ratio of -269.51, a PEG ratio of 6.42 and a beta of 1.07.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on OKTA shares. DA Davidson raised shares of Okta from a "neutral" rating to a "buy" rating and raised their price target for the company from $90.00 to $125.00 in a research note on Tuesday, March 4th. Stephens assumed coverage on Okta in a research note on Tuesday, April 1st. They issued an "equal weight" rating and a $127.00 price target on the stock. Susquehanna boosted their price target on Okta from $95.00 to $105.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Truist Financial raised their price objective on Okta from $92.00 to $100.00 and gave the company a "hold" rating in a report on Tuesday, March 4th. Finally, Wells Fargo & Company upped their target price on shares of Okta from $95.00 to $100.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $116.03.

Insider Activity at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 390,000 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total transaction of $33,965,100.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Larissa Schwartz sold 11,552 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the transaction, the insider now owns 22,125 shares of the company's stock, valued at approximately $2,524,241.25. This trade represents a 34.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 757,192 shares of company stock worth $70,390,406 in the last three months. 7.00% of the stock is owned by company insiders.

About Okta

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.

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