Geneos Wealth Management Inc. Acquires 6,268 Shares of Okta, Inc. (NASDAQ:OKTA)

Geneos Wealth Management Inc. lifted its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 149.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,466 shares of the company's stock after acquiring an additional 6,268 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Okta were worth $825,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Okta by 2.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company's stock valued at $605,000 after purchasing an additional 180 shares during the period. Bleakley Financial Group LLC raised its stake in Okta by 4.6% in the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company's stock valued at $306,000 after buying an additional 182 shares during the period. Creative Financial Designs Inc. ADV lifted its position in shares of Okta by 12.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company's stock valued at $127,000 after buying an additional 188 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company's stock worth $28,000 after acquiring an additional 191 shares during the period. Finally, CHICAGO TRUST Co NA increased its holdings in shares of Okta by 6.5% during the 4th quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company's stock worth $246,000 after acquiring an additional 191 shares during the last quarter. Institutional investors own 86.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on OKTA shares. Westpark Capital restated a "buy" rating and set a $140.00 price objective on shares of Okta in a report on Wednesday, December 4th. Jefferies Financial Group reduced their price target on Okta from $100.00 to $90.00 and set a "hold" rating for the company in a research note on Thursday, December 19th. Barclays increased their price objective on Okta from $81.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 4th. Canaccord Genuity Group boosted their target price on shares of Okta from $82.00 to $94.00 and gave the company a "hold" rating in a research report on Wednesday, December 4th. Finally, KeyCorp raised shares of Okta from a "sector weight" rating to an "overweight" rating and set a $115.00 price target on the stock in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Okta currently has a consensus rating of "Hold" and an average price target of $104.55.

Insider Activity at Okta

In other news, CEO Todd Mckinnon sold 233,028 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Larissa Schwartz sold 2,791 shares of Okta stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $71.50, for a total value of $199,556.50. Following the transaction, the insider now directly owns 22,125 shares in the company, valued at approximately $1,581,937.50. The trade was a 11.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 775,959 shares of company stock valued at $65,583,725. 7.00% of the stock is owned by company insiders.

Okta Stock Up 4.3 %

NASDAQ:OKTA traded up $3.92 during trading hours on Tuesday, reaching $94.82. The company had a trading volume of 3,206,127 shares, compared to its average volume of 2,598,381. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm has a market cap of $16.25 billion, a price-to-earnings ratio of -271.30, a P/E/G ratio of 8.95 and a beta of 1.00. The business's 50-day simple moving average is $82.54 and its two-hundred day simple moving average is $82.07.

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.