Concurrent Investment Advisors LLC Makes New $748,000 Investment in Okta, Inc. (NASDAQ:OKTA)

Concurrent Investment Advisors LLC acquired a new position in Okta, Inc. (NASDAQ:OKTA - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 9,487 shares of the company's stock, valued at approximately $748,000.

A number of other hedge funds also recently bought and sold shares of OKTA. Stephens Inc. AR lifted its holdings in shares of Okta by 5.0% during the 4th quarter. Stephens Inc. AR now owns 3,296 shares of the company's stock valued at $260,000 after purchasing an additional 157 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Okta by 2.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company's stock valued at $605,000 after buying an additional 180 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in Okta by 12.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company's stock worth $127,000 after acquiring an additional 188 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company's stock worth $28,000 after acquiring an additional 191 shares during the last quarter. Finally, CHICAGO TRUST Co NA increased its holdings in shares of Okta by 6.5% during the fourth quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company's stock valued at $246,000 after acquiring an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company's stock.

Okta Trading Down 0.4 %

Shares of OKTA stock traded down $0.39 during trading hours on Thursday, hitting $89.19. The company had a trading volume of 2,520,880 shares, compared to its average volume of 2,412,854. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market capitalization of $15.28 billion, a PE ratio of -254.83, a price-to-earnings-growth ratio of 6.42 and a beta of 1.03. The company's fifty day moving average is $89.01 and its 200 day moving average is $82.57. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $114.50.

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Insider Activity

In other news, Director Jacques Frederic Kerrest sold 390,000 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total transaction of $33,965,100.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Larissa Schwartz sold 2,704 shares of the firm's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the transaction, the insider now directly owns 24,462 shares of the company's stock, valued at approximately $1,969,191. The trade was a 9.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 980,908 shares of company stock valued at $85,025,665. 7.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

OKTA has been the topic of a number of research reports. BMO Capital Markets increased their price objective on Okta from $103.00 to $105.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Scotiabank dropped their target price on Okta from $96.00 to $94.00 and set a "sector perform" rating on the stock in a report on Tuesday, January 21st. Sanford C. Bernstein lowered their price target on shares of Okta from $129.00 to $124.00 and set an "outperform" rating on the stock in a report on Tuesday, December 17th. Citigroup increased their price target on Okta from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday, January 17th. Finally, BTIG Research lifted their price target on shares of Okta from $98.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $106.13.

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.