Charles Schwab Investment Management Inc. Increases Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Charles Schwab Investment Management Inc. grew its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,115,516 shares of the company's stock after acquiring an additional 46,064 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.65% of Okta worth $87,903,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of OKTA. Itau Unibanco Holding S.A. acquired a new position in shares of Okta in the 3rd quarter valued at approximately $25,000. Bank of Jackson Hole Trust acquired a new position in shares of Okta in the 4th quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Okta in the 3rd quarter valued at approximately $32,000. Modus Advisors LLC acquired a new position in Okta during the 4th quarter worth approximately $44,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Okta during the 4th quarter worth approximately $44,000. 86.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. BMO Capital Markets increased their price objective on Okta from $105.00 to $130.00 and gave the company a "market perform" rating in a report on Monday. Royal Bank of Canada increased their price objective on Okta from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. Westpark Capital restated a "buy" rating and issued a $140.00 price target on shares of Okta in a research report on Friday, February 28th. Morgan Stanley upgraded Okta from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $92.00 to $97.00 in a research report on Monday, December 2nd. Finally, Canaccord Genuity Group raised their price target on Okta from $82.00 to $94.00 and gave the stock a "hold" rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat, Okta has an average rating of "Moderate Buy" and a consensus price target of $114.39.

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Insider Transactions at Okta

In other news, insider Larissa Schwartz sold 2,704 shares of the business's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the sale, the insider now owns 24,462 shares in the company, valued at $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Todd Mckinnon sold 233,028 shares of the business's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The disclosure for this sale can be found here. Insiders sold 979,482 shares of company stock worth $88,072,216 over the last ninety days. 7.00% of the stock is owned by insiders.

Okta Trading Down 2.0 %

Shares of OKTA traded down $2.15 during mid-day trading on Thursday, reaching $106.63. 3,481,315 shares of the company were exchanged, compared to its average volume of 3,252,940. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $116.96. 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 stock has a market capitalization of $18.27 billion, a PE ratio of -304.66, a PEG ratio of 6.42 and a beta of 1.09. The business has a 50 day simple moving average of $93.39 and a two-hundred day simple moving average of $83.09.

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.