4,533 Shares in Okta, Inc. (NASDAQ:OKTA) Purchased by Bridgewater Associates LP

Bridgewater Associates LP purchased a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,533 shares of the company's stock, valued at approximately $357,000.

Other hedge funds have also recently bought and sold shares of the company. Bank of Jackson Hole Trust bought a new stake in shares of Okta in the 4th quarter worth about $25,000. TD Private Client Wealth LLC boosted its position in Okta by 3,507.7% in the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock valued at $37,000 after buying an additional 456 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in Okta in the fourth quarter valued at about $43,000. Modus Advisors LLC bought a new stake in Okta during the fourth quarter worth about $44,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Okta during the fourth quarter worth approximately $44,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Stock Up 4.2 %

NASDAQ OKTA traded up $4.00 during trading hours on Wednesday, reaching $98.33. 2,379,501 shares of the company's stock were exchanged, compared to its average volume of 2,561,216. 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 company has a market capitalization of $17.07 billion, a price-to-earnings ratio of -280.94, a price-to-earnings-growth ratio of 6.42 and a beta of 1.07. The company's 50-day moving average is $102.14 and its two-hundred day moving average is $88.94. Okta, Inc. has a one year low of $70.56 and a one year high of $118.07.

Insider Activity

In other Okta news, insider Larissa Schwartz sold 2,740 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total transaction of $267,396.60. Following the completion of the transaction, the insider now owns 22,125 shares of the company's stock, valued at $2,159,178.75. This represents a 11.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Jonathan James Addison sold 7,005 shares of Okta stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $101.19, for a total transaction of $708,835.95. Following the completion of the sale, the executive now owns 19,067 shares in the company, valued at $1,929,389.73. This trade represents a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 757,192 shares of company stock worth $70,390,406 over the last quarter. 7.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Citigroup increased their price target on Okta from $100.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Roth Capital initiated coverage on Okta in a report on Wednesday. They set a "buy" rating and a $119.00 target price on the stock. Scotiabank lifted their price target on Okta from $94.00 to $109.00 and gave the company a "sector perform" rating in a report on Tuesday, March 4th. Wells Fargo & Company increased their price objective 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. Finally, Cantor Fitzgerald assumed coverage on shares of Okta in a research note on Monday, March 31st. They issued an "overweight" rating and a $130.00 target price for the company. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $116.12.

Okta Company 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.