Rockefeller Capital Management L.P. Purchases 32,790 Shares of Okta, Inc. (NASDAQ:OKTA)

Rockefeller Capital Management L.P. raised its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 56.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,895 shares of the company's stock after buying an additional 32,790 shares during the period. Rockefeller Capital Management L.P. owned about 0.05% of Okta worth $7,163,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Jackson Hole Trust purchased a new stake in Okta during the 4th quarter valued at about $25,000. TD Private Client Wealth LLC boosted its stake in shares of Okta by 3,507.7% during 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. Brown Brothers Harriman & Co. bought a new position in shares of Okta in the fourth quarter worth approximately $43,000. Modus Advisors LLC purchased a new position in shares of Okta in the fourth quarter worth $44,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in Okta in the 4th quarter worth $44,000. 86.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OKTA. Royal Bank of Canada upped their price objective on shares of Okta from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. BTIG Research reaffirmed a "buy" rating on shares of Okta in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price objective on Okta from $100.00 to $105.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Oppenheimer upped their target price on Okta from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Finally, Westpark Capital reaffirmed a "buy" rating and issued a $140.00 price target on shares of Okta in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $116.03.

Okta Stock Up 2.0 %

Shares of NASDAQ:OKTA traded up $1.87 during trading on Tuesday, reaching $94.33. 1,786,104 shares of the stock traded hands, compared to its average volume of 2,561,945. The stock has a market cap of $16.38 billion, a P/E ratio of -269.51, a price-to-earnings-growth ratio of 6.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a 50-day moving average of $102.14 and a two-hundred day moving average of $88.94. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $118.07.

Insider Activity at Okta

In other news, Director Jacques Frederic Kerrest sold 390,000 shares of the business's stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total transaction of $33,965,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Larissa Schwartz sold 2,704 shares of the firm's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $89.58, for a total transaction of $242,224.32. Following the completion of the sale, the insider now owns 23,311 shares in the company, valued at $2,088,199.38. This represents a 10.39 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 759,896 shares of company stock valued at $70,632,631. 7.00% of the stock is owned by corporate insiders.

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.