Nemes Rush Group LLC Raises Holdings in Okta, Inc. (NASDAQ:OKTA)

Nemes Rush Group LLC raised its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 757.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,252 shares of the company's stock after purchasing an additional 3,756 shares during the quarter. Nemes Rush Group LLC's holdings in Okta were worth $335,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new stake in Okta during the 3rd quarter valued at about $25,000. Bank of Jackson Hole Trust purchased a new position in shares of Okta during the fourth quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Okta during the third quarter valued at approximately $32,000. TD Private Client Wealth LLC boosted its holdings in shares of Okta by 3,507.7% in the fourth 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. Finally, Brown Brothers Harriman & Co. bought a new position in Okta in the fourth quarter worth approximately $43,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Okta news, insider Eric Robert Kelleher sold 5,895 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $113.75, for a total value of $670,556.25. Following the completion of the sale, the insider now directly owns 9,828 shares of the company's stock, valued at $1,117,935. This trade represents a 37.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value of $1,317,967.68. Following the transaction, the insider now owns 22,125 shares in the company, valued at approximately $2,524,241.25. This represents a 34.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 761,197 shares of company stock valued at $70,662,533 in the last ninety days. 7.00% of the stock is currently owned by corporate insiders.

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Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Canaccord Genuity Group lifted their target price on Okta from $94.00 to $100.00 and gave the company a "hold" rating in a research report on Tuesday, March 4th. Barclays upped their price objective on shares of Okta from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Oppenheimer raised their target price on shares of Okta from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. BMO Capital Markets upped their price target on shares of Okta from $105.00 to $130.00 and gave the stock a "market perform" rating in a research report on Monday, March 10th. Finally, Morgan Stanley set a $125.00 price objective on shares of Okta in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $116.09.

Okta Price Performance

OKTA traded down $8.34 on Friday, reaching $91.93. 7,543,540 shares of the company's stock were exchanged, compared to its average volume of 2,469,366. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $118.07. The stock has a market cap of $15.96 billion, a PE ratio of -262.66, a P/E/G ratio of 6.42 and a beta of 1.06. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The stock's fifty day moving average price is $101.58 and its 200-day moving average price is $86.54.

About Okta

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.