Connor Clark & Lunn Investment Management Ltd. increased its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 58.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 568,797 shares of the company's stock after buying an additional 210,615 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.33% of Okta worth $44,821,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OKTA. Stephens Inc. AR increased its stake in Okta by 5.0% in the 4th quarter. Stephens Inc. AR now owns 3,296 shares of the company's stock worth $260,000 after buying an additional 157 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Okta by 2.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company's stock worth $605,000 after acquiring an additional 180 shares in the last quarter. Great Lakes Advisors LLC increased its position in shares of Okta by 2.7% during the fourth quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company's stock worth $557,000 after acquiring an additional 184 shares during the period. CHICAGO TRUST Co NA raised its stake 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. Finally, Principal Securities Inc. raised its stake in shares of Okta by 13.8% during the fourth quarter. Principal Securities Inc. now owns 1,686 shares of the company's stock valued at $133,000 after acquiring an additional 204 shares in the last quarter. 86.64% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research analysts have commented on the company. Canaccord Genuity Group raised their price objective on Okta from $82.00 to $94.00 and gave the stock a "hold" rating in a report on Wednesday, December 4th. Royal Bank of Canada raised their price target on Okta from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Canaccord Genuity Group upped their price objective on shares of Okta from $94.00 to $100.00 and gave the stock a "hold" rating in a research note on Tuesday, March 4th. UBS Group set a $135.00 target price on shares of Okta in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group boosted their price target on shares of Okta from $107.00 to $123.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $114.39.
View Our Latest Stock Analysis on Okta
Insider Transactions at Okta
In other news, Director Jacques Frederic Kerrest sold 130,000 shares of Okta stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total transaction of $13,650,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd Mckinnon sold 233,028 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $82.31, for a total transaction of $19,180,534.68. The disclosure for this sale can be found here. Insiders have sold 979,482 shares of company stock worth $88,072,216 over the last quarter. 7.00% of the stock is currently owned by insiders.
Okta Stock Performance
NASDAQ:OKTA traded down $2.15 during mid-day trading on Thursday, hitting $106.63. The company's stock had a trading volume of 3,481,315 shares, compared to its average volume of 3,252,940. The business's fifty day moving average is $93.39 and its two-hundred day moving average is $83.09. The stock has a market cap of $18.27 billion, a price-to-earnings ratio of -304.66, a PEG ratio of 6.42 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $116.96.
Okta Company Profile
(
Free Report)
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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