AlphaQuest LLC Increases Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

AlphaQuest LLC lifted its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 43.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,251 shares of the company's stock after acquiring an additional 3,117 shares during the quarter. AlphaQuest LLC's holdings in Okta were worth $808,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of OKTA. Paloma Partners Management Co purchased a new position in Okta during the 3rd quarter worth $969,000. SBI Securities Co. Ltd. purchased a new position in shares of Okta during the fourth quarter valued at $1,686,000. Stifel Financial Corp increased its stake in shares of Okta by 56.1% during the third quarter. Stifel Financial Corp now owns 37,258 shares of the company's stock valued at $2,770,000 after buying an additional 13,387 shares during the period. Nordea Investment Management AB raised its holdings in shares of Okta by 1,150.2% in the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company's stock valued at $33,146,000 after acquiring an additional 382,190 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Okta by 105.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company's stock worth $26,627,000 after acquiring an additional 184,107 shares during the period. Institutional investors own 86.64% of the company's stock.

Analysts Set New Price Targets

OKTA has been the topic of a number of research reports. Robert W. Baird raised their target price on shares of Okta from $115.00 to $130.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Jefferies Financial Group lifted their price objective on shares of Okta from $90.00 to $110.00 and gave the company a "hold" rating in a report on Tuesday, March 4th. Susquehanna upped their target price on Okta from $95.00 to $105.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Canaccord Genuity Group increased 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. Finally, Piper Sandler boosted their price target on Okta from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Okta currently has an average rating of "Moderate Buy" and an average target price of $114.39.

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Okta Price Performance

NASDAQ OKTA traded down $2.15 during trading hours on Thursday, reaching $106.63. The company's stock had a trading volume of 3,481,315 shares, compared to its average volume of 3,252,940. The firm has a market capitalization of $18.27 billion, a price-to-earnings ratio of -304.66, a P/E/G ratio of 6.42 and a beta of 1.09. The company's 50-day moving average is $93.39 and its two-hundred day moving average is $83.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $116.96.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $80.50, for a total value of $217,672.00. Following the sale, the insider now directly owns 24,462 shares in the company, valued at approximately $1,969,191. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jacques Frederic Kerrest sold 3,306 shares of the firm's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $88.85, for a total transaction of $293,738.10. The disclosure for this sale can be found here. Insiders sold a total of 979,482 shares of company stock valued at $88,072,216 in the last three months. 7.00% of the stock is currently owned by company insiders.

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.