Okta, Inc. (NASDAQ:OKTA) Shares Bought by LMG Wealth Partners LLC

LMG Wealth Partners LLC lifted its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 15.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,507 shares of the company's stock after buying an additional 2,974 shares during the period. LMG Wealth Partners LLC's holdings in Okta were worth $1,774,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Jacobson & Schmitt Advisors LLC grew its position in Okta by 53.5% during the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 95,793 shares of the company's stock valued at $7,548,000 after acquiring an additional 33,385 shares during the period. Ieq Capital LLC lifted its stake in shares of Okta by 100.0% in the 4th quarter. Ieq Capital LLC now owns 97,988 shares of the company's stock valued at $7,721,000 after purchasing an additional 49,002 shares in the last quarter. Bank of Jackson Hole Trust purchased a new stake in shares of Okta during the 4th quarter worth about $25,000. CIBC Asset Management Inc increased its position in Okta by 13.9% during the 4th quarter. CIBC Asset Management Inc now owns 6,433 shares of the company's stock worth $507,000 after purchasing an additional 783 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its holdings in Okta by 10.7% in the fourth quarter. Sanctuary Advisors LLC now owns 12,445 shares of the company's stock valued at $981,000 after buying an additional 1,201 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Okta

In other news, CFO Brett Tighe sold 5,000 shares of the firm's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00. Following the transaction, the chief financial officer now directly owns 112,533 shares of the company's stock, valued at approximately $10,015,437. This trade represents a 4.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Mckinnon sold 233,028 shares of the company's stock in a transaction dated 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. Over the last three months, insiders sold 980,908 shares of company stock worth $85,025,665. Company insiders own 7.00% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of Okta from $97.00 to $107.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Barclays upped their price target on shares of Okta from $96.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Thursday. DA Davidson raised their price objective on Okta from $75.00 to $90.00 and gave the company a "neutral" rating in a research report on Wednesday, December 4th. Truist Financial restated a "hold" rating and set a $92.00 price objective (up previously from $80.00) on shares of Okta in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $101.00 target price on shares of Okta in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $106.13.

Okta Stock Performance

Okta stock traded down $2.49 during midday trading on Friday, reaching $92.70. 1,293,707 shares of the stock traded hands, compared to its average volume of 2,400,858. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $114.50. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm has a market cap of $15.88 billion, a price-to-earnings ratio of -264.79, a PEG ratio of 6.54 and a beta of 1.03. The firm has a fifty day moving average price of $88.43 and a two-hundred day moving average price of $82.47.

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.