Cerity Partners LLC Acquires 12,322 Shares of Okta, Inc. (NASDAQ:OKTA)

Cerity Partners LLC increased its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 22.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 66,734 shares of the company's stock after acquiring an additional 12,322 shares during the period. Cerity Partners LLC's holdings in Okta were worth $5,250,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Jackson Hole Trust acquired a new stake in Okta in the fourth quarter valued at $25,000. TD Private Client Wealth LLC increased its holdings 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 during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in Okta during the fourth quarter valued at approximately $43,000. Modus Advisors LLC bought a new position in Okta during the 4th quarter worth approximately $44,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of Okta in the 4th quarter worth approximately $44,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on OKTA. Cantor Fitzgerald initiated coverage on Okta in a research note on Monday, March 31st. They set an "overweight" rating and a $130.00 price objective on the stock. The Goldman Sachs Group raised their price target on shares of Okta from $107.00 to $123.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Mizuho upgraded shares of Okta from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $110.00 to $127.00 in a research note on Tuesday, March 4th. Barclays lifted their target price on Okta from $105.00 to $115.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Finally, JPMorgan Chase & Co. increased their price target on Okta from $100.00 to $105.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. One 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.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $116.03.

Okta Trading Down 2.0 %

Shares of NASDAQ:OKTA traded down $2.04 during mid-day trading on Friday, hitting $97.93. The stock had a trading volume of 1,898,455 shares, compared to its average volume of 2,547,372. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $118.07. 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 cap of $17.00 billion, a PE ratio of -279.80, a P/E/G ratio of 6.42 and a beta of 1.07. The company's 50 day moving average is $102.34 and its 200-day moving average is $88.35.

Insider Activity

In related news, Director Jacques Frederic Kerrest sold 3,306 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total transaction of $293,738.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the sale, the insider now directly owns 22,125 shares of the company's stock, valued at $2,524,241.25. This trade represents a 34.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 768,202 shares of company stock worth $71,371,369. 7.00% of the stock is owned by corporate insiders.

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.