Canada Pension Plan Investment Board Has $5.16 Million Stock Position in Okta, Inc. (NASDAQ:OKTA)

Canada Pension Plan Investment Board grew its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 358.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,500 shares of the company's stock after purchasing an additional 51,200 shares during the period. Canada Pension Plan Investment Board's holdings in Okta were worth $5,161,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in OKTA. Virtu Financial LLC bought a new stake in Okta during the 3rd quarter worth about $2,436,000. Wilmington Savings Fund Society FSB bought a new stake in Okta during the third quarter worth about $108,000. Tidal Investments LLC boosted its position in Okta by 132.0% during the third quarter. Tidal Investments LLC now owns 25,103 shares of the company's stock valued at $1,866,000 after purchasing an additional 14,283 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in Okta in the third quarter valued at approximately $5,343,000. Finally, 272 Capital LP acquired a new position in shares of Okta during the 3rd quarter worth approximately $1,241,000. Institutional investors own 86.64% of the company's stock.

Okta Price Performance

OKTA stock opened at $94.33 on Wednesday. The company's 50-day moving average price is $102.14 and its two-hundred day moving average price is $88.94. The firm has a market cap of $16.38 billion, a P/E ratio of -269.51, a P/E/G ratio of 6.42 and a beta of 1.07. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $118.07.

Insider Activity at Okta

In other Okta news, CFO Brett Tighe sold 5,000 shares of the business's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $87.29, for a total transaction of $436,450.00. Following the completion of the transaction, the chief financial officer now owns 107,533 shares of the company's stock, valued at approximately $9,386,555.57. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Jonathan James Addison sold 7,005 shares of the firm's 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 approximately $1,929,389.73. The trade was a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 757,192 shares of company stock valued at $70,390,406 over the last three months. 7.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

OKTA has been the subject of several recent analyst reports. Stifel Nicolaus increased their price objective on Okta from $115.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Barclays lifted their price objective on shares of Okta from $105.00 to $115.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. KeyCorp upped their target price on shares of Okta from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Canaccord Genuity Group lifted their price target on Okta from $94.00 to $100.00 and gave the stock a "hold" rating in a report on Tuesday, March 4th. Finally, BTIG Research restated a "buy" rating on shares of Okta in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Okta presently has an average rating of "Moderate Buy" and a consensus price target of $116.03.

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.

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