Kazazian Asset Management LLC Invests $236,000 in Okta, Inc. (NASDAQ:OKTA)

Kazazian Asset Management LLC purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,000 shares of the company's stock, valued at approximately $236,000.

Other large investors have also made changes to their positions in the company. Paloma Partners Management Co acquired a new position in shares of Okta during the third quarter worth $969,000. SBI Securities Co. Ltd. acquired a new position in shares of Okta in the 4th quarter valued at $1,686,000. Stifel Financial Corp increased its position in shares of Okta by 56.1% in the 3rd quarter. Stifel Financial Corp now owns 37,258 shares of the company's stock valued at $2,770,000 after acquiring an additional 13,387 shares during the period. Nordea Investment Management AB increased its position in shares of Okta by 1,150.2% in the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company's stock valued at $33,146,000 after acquiring an additional 382,190 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Okta by 105.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company's stock valued at $26,627,000 after acquiring an additional 184,107 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Trading Up 0.8 %

Shares of NASDAQ OKTA traded up $0.94 during midday trading on Friday, reaching $113.74. 3,497,942 shares of the stock were exchanged, compared to its average volume of 2,374,499. The company has a 50 day simple moving average of $97.48 and a 200 day simple moving average of $84.38. The stock has a market capitalization of $19.75 billion, a P/E ratio of -324.97, a PEG ratio of 6.42 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $116.96.

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Insider Activity at Okta

In related news, insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the sale, the insider now owns 22,125 shares in the company, valued at approximately $2,524,241.25. This trade represents a 34.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brett Tighe sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total transaction of $445,000.00. Following the completion of the transaction, the chief financial officer now directly owns 112,533 shares of the company's stock, valued at $10,015,437. This represents a 4.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 763,901 shares of company stock worth $70,880,205. Insiders own 7.00% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on OKTA shares. KeyCorp upped their target price on Okta from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Mizuho raised shares of Okta from a "neutral" rating to an "outperform" rating and upped their price target for the company from $110.00 to $127.00 in a report on Tuesday, March 4th. Stifel Nicolaus upped their price target on shares of Okta from $115.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Westpark Capital reaffirmed a "buy" rating and issued a $140.00 price target on shares of Okta in a report on Friday, February 28th. Finally, Morgan Stanley set a $125.00 price target on shares of Okta in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Okta presently has an average rating of "Moderate Buy" and a consensus price target of $115.29.

Okta Company 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.