Oddo BHF Asset Management Sas Invests $5.34 Million in Okta, Inc. (NASDAQ:OKTA)

Oddo BHF Asset Management Sas bought a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 71,869 shares of the company's stock, valued at approximately $5,343,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC increased its position in Okta by 132.0% during the third quarter. Tidal Investments LLC now owns 25,103 shares of the company's stock worth $1,866,000 after buying an additional 14,283 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Okta during the 3rd quarter worth approximately $108,000. Sanctuary Advisors LLC lifted its holdings in Okta by 125.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 11,244 shares of the company's stock valued at $861,000 after purchasing an additional 6,265 shares during the last quarter. Virtu Financial LLC bought a new position in Okta during the third quarter worth $2,436,000. Finally, MML Investors Services LLC increased its holdings in shares of Okta by 43.2% in the third quarter. MML Investors Services LLC now owns 33,333 shares of the company's stock valued at $2,478,000 after purchasing an additional 10,048 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Okta

In related news, CEO Todd Mckinnon sold 200,512 shares of the firm's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the transaction, the chief executive officer now directly owns 8,495 shares of the company's stock, valued at $638,908.95. This trade represents a 95.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Larissa Schwartz sold 2,790 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.01, for a total value of $206,487.90. Following the sale, the insider now directly owns 27,713 shares of the company's stock, valued at $2,051,039.13. The trade was a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 607,215 shares of company stock valued at $46,304,810. 7.00% of the stock is currently owned by company insiders.

Okta Trading Down 2.3 %

NASDAQ OKTA traded down $1.92 during mid-day trading on Friday, reaching $81.99. 1,875,880 shares of the stock were exchanged, compared to its average volume of 2,139,198. 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 has a market cap of $13.93 billion, a P/E ratio of -239.74, a P/E/G ratio of 8.93 and a beta of 1.00. The stock has a 50 day simple moving average of $76.64 and a 200-day simple moving average of $83.72. Okta, Inc. has a one year low of $70.56 and a one year high of $114.50.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on OKTA shares. Needham & Company LLC boosted their price objective on Okta from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Wells Fargo & Company boosted their price target on Okta from $80.00 to $95.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Westpark Capital reiterated a "buy" rating and set a $140.00 price objective on shares of Okta in a research report on Wednesday, December 4th. Sanford C. Bernstein upgraded shares of Okta from a "market perform" rating to an "outperform" rating and upped their price target for the company from $123.00 to $129.00 in a research note on Thursday, December 5th. Finally, Canaccord Genuity Group lifted their price objective on shares of Okta from $82.00 to $94.00 and gave the stock a "hold" rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $103.77.

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.