Okta, Inc. (NASDAQ:OKTA) Shares Purchased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC boosted its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 46.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,833 shares of the company's stock after acquiring an additional 3,429 shares during the quarter. Tower Research Capital LLC TRC's holdings in Okta were worth $854,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of OKTA. Bank of Jackson Hole Trust acquired a new position in shares of Okta in the 4th quarter worth approximately $25,000. TD Private Client Wealth LLC increased 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 buying an additional 456 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of Okta during the 4th quarter valued at $43,000. Modus Advisors LLC bought a new stake in shares of Okta during the 4th quarter worth $44,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Okta during the 4th quarter worth $44,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on OKTA. Robert W. Baird upped their target price on Okta from $115.00 to $130.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Mizuho upgraded shares of Okta from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $110.00 to $127.00 in a report on Tuesday, March 4th. Susquehanna lifted their target price on shares of Okta from $95.00 to $105.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Scotiabank upped their price target on shares of Okta from $94.00 to $109.00 and gave the company a "sector perform" rating in a research report on Tuesday, March 4th. Finally, Citigroup lifted their price objective on shares of Okta from $100.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $116.12.

Insiders Place Their Bets

In related news, insider Larissa Schwartz sold 11,552 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the transaction, the insider now owns 22,125 shares of the company's stock, valued at approximately $2,524,241.25. The trade was a 34.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Robert Kelleher sold 5,895 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were 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 in the company, valued at $1,117,935. This trade represents a 37.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 362,192 shares of company stock valued at $35,988,856 in the last quarter. Insiders own 7.00% of the company's stock.

Okta Price Performance

NASDAQ OKTA opened at $103.38 on Friday. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $118.07. The company has a fifty day simple moving average of $102.42 and a 200 day simple moving average of $89.41. 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 company has a market cap of $17.95 billion, a P/E ratio of -295.37, a P/E/G ratio of 6.42 and a beta of 1.07.

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.

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