Okta, Inc. (NASDAQ:OKTA) Stock Position Increased by Marshall Wace LLP

Marshall Wace LLP increased its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 35.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,583,937 shares of the company's stock after purchasing an additional 938,509 shares during the period. Marshall Wace LLP owned 2.09% of Okta worth $282,414,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in OKTA. Bank of Jackson Hole Trust bought a new position in Okta during the fourth quarter valued at about $25,000. TD Private Client Wealth LLC raised its stake in Okta by 3,507.7% during the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock valued at $37,000 after purchasing an additional 456 shares during the period. Brown Brothers Harriman & Co. purchased a new position in shares of Okta during the fourth quarter valued at $43,000. Modus Advisors LLC acquired a new stake in Okta in the 4th quarter worth $44,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Okta in the 4th quarter valued at approximately $44,000. Institutional investors own 86.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Canaccord Genuity Group raised their price objective on shares of Okta from $94.00 to $100.00 and gave the stock a "hold" rating in a report on Tuesday, March 4th. The Goldman Sachs Group upped their price objective on shares of Okta from $107.00 to $123.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. UBS Group set a $135.00 price target on Okta in a report on Tuesday, March 4th. Susquehanna upped their price objective on shares of Okta from $95.00 to $105.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. Finally, Wells Fargo & Company upped their price target on shares of Okta from $95.00 to $100.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Okta has a consensus rating of "Moderate Buy" and an average price target of $116.03.

Okta Stock Down 5.1 %

OKTA traded down $5.02 during midday trading on Monday, reaching $92.91. The company's stock had a trading volume of 799,830 shares, compared to its average volume of 3,201,479. 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 capitalization of $16.13 billion, a price-to-earnings ratio of -265.46, a PEG ratio of 6.42 and a beta of 1.07. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $118.07. The stock's 50-day moving average is $102.38 and its 200-day moving average is $88.76.

Insider Buying and Selling

In other news, CRO Jonathan James Addison sold 7,005 shares of the company's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $101.19, for a total value of $708,835.95. Following the transaction, the executive now directly owns 19,067 shares in the company, valued at approximately $1,929,389.73. This represents a 26.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction 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 owns 112,533 shares in the company, valued at approximately $10,015,437. This trade represents a 4.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 768,202 shares of company stock worth $71,371,369 over the last three months. 7.00% of the stock is owned by insiders.

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.