Arrowstreet Capital Limited Partnership lifted its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 54.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,241,220 shares of the company's stock after buying an additional 440,171 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.72% of Okta worth $97,808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in Okta during the fourth quarter worth about $234,992,000. Charles Schwab Investment Management Inc. boosted its holdings in Okta by 4.3% in 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 in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Okta in the third quarter worth $49,373,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Okta by 58.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 568,797 shares of the company's stock valued at $44,821,000 after acquiring an additional 210,615 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Okta by 138.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company's stock valued at $43,721,000 after acquiring an additional 322,201 shares in the last quarter. 86.64% of the stock is owned by institutional investors.
Insider Activity
In other Okta news, CFO Brett Tighe sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00. Following the completion of the transaction, the chief financial officer now owns 112,533 shares in the company, valued at $10,015,437. This trade represents a 4.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jacques Frederic Kerrest sold 390,000 shares of Okta stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $87.09, for a total value of $33,965,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 761,197 shares of company stock worth $70,662,533 over the last quarter. Insiders own 7.00% of the company's stock.
Okta Price Performance
Shares of NASDAQ OKTA traded down $8.34 during mid-day trading on Friday, reaching $91.93. The company's stock had a trading volume of 7,543,540 shares, compared to its average volume of 2,476,128. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $118.07. The stock has a fifty day moving average of $101.64 and a two-hundred day moving average of $86.75. The firm has a market capitalization of $15.96 billion, a PE ratio of -262.66, a P/E/G ratio of 6.42 and a beta of 1.06.
Wall Street Analyst Weigh In
A number of research firms have weighed in on OKTA. UBS Group set a $135.00 price objective on shares of Okta in a research note on Tuesday, March 4th. Jefferies Financial Group raised their price target on shares of Okta from $90.00 to $110.00 and gave the company a "hold" rating in a research report on Tuesday, March 4th. Canaccord Genuity Group upped their price objective on Okta from $94.00 to $100.00 and gave the company a "hold" rating in a research report on Tuesday, March 4th. Mizuho raised Okta from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $110.00 to $127.00 in a report on Tuesday, March 4th. Finally, Stifel Nicolaus upped their price target on Okta from $115.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Okta currently has a consensus rating of "Moderate Buy" and an average target price of $116.09.
Check Out Our Latest Stock Analysis on OKTA
About Okta
(
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.
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