IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,931 shares of the company's stock after purchasing an additional 3,558 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Okta were worth $5,195,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Frank Rimerman Advisors LLC increased its holdings in Okta by 2.4% in the 4th quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company's stock worth $352,000 after buying an additional 105 shares in the last quarter. Stephens Inc. AR boosted 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 acquiring an additional 157 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Okta by 2.3% in the fourth 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 during the period. Great Lakes Advisors LLC raised its holdings 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 valued at $557,000 after purchasing an additional 184 shares during the last quarter. Finally, CHICAGO TRUST Co NA lifted its position in 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 purchasing an additional 191 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have commented on OKTA. Stifel Nicolaus lifted their target price on shares of Okta from $115.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Cantor Fitzgerald initiated coverage on Okta in a research report on Monday. They set an "overweight" rating and a $130.00 price objective for the company. Westpark Capital reissued a "buy" rating and issued a $140.00 target price on shares of Okta in a research report on Friday, February 28th. JMP Securities restated a "market perform" rating on shares of Okta in a research note on Wednesday, December 4th. Finally, Susquehanna increased their price objective on shares of Okta from $95.00 to $105.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $115.75.
Read Our Latest Analysis on Okta
Okta Price Performance
NASDAQ:OKTA traded down $3.79 during trading hours on Monday, reaching $104.20. The stock had a trading volume of 1,145,148 shares, compared to its average volume of 2,429,116. 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 $18.09 billion, a PE ratio of -298.37, a PEG ratio of 6.42 and a beta of 1.09. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $118.07. The company has a 50 day moving average price of $100.33 and a two-hundred day moving average price of $85.87.
Insider Buying and Selling
In other news, CFO Brett Tighe sold 5,000 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total value of $445,000.00. Following the sale, the chief financial officer now directly owns 112,533 shares in the company, valued at $10,015,437. The trade was a 4.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jacques Frederic Kerrest sold 3,306 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total transaction of $293,738.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 761,197 shares of company stock worth $70,662,533. Insiders own 7.00% of the company's stock.
About Okta
(
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.
Further Reading
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