Lecap Asset Management Ltd. Has $1.83 Million Position in Okta, Inc. (NASDAQ:OKTA)

Lecap Asset Management Ltd. trimmed its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 50.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,268 shares of the company's stock after selling 23,537 shares during the period. Lecap Asset Management Ltd.'s holdings in Okta were worth $1,834,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of OKTA. Paloma Partners Management Co bought a new position in shares of Okta during the third quarter worth $969,000. SG Americas Securities LLC lifted its holdings in Okta by 122.3% during the third quarter. SG Americas Securities LLC now owns 17,021 shares of the company's stock worth $1,265,000 after acquiring an additional 9,364 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Okta by 56.1% in the third quarter. Stifel Financial Corp now owns 37,258 shares of the company's stock worth $2,770,000 after acquiring an additional 13,387 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Okta by 1,150.2% during the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company's stock worth $33,146,000 after purchasing an additional 382,190 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Okta by 105.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company's stock valued at $26,627,000 after purchasing an additional 184,107 shares in the last quarter. Institutional investors own 86.64% of the company's stock.

Okta Stock Performance

NASDAQ:OKTA traded down $0.66 during mid-day trading on Tuesday, reaching $97.01. 906,840 shares of the company's stock were exchanged, compared to its average volume of 2,452,622. The business's fifty day simple moving average is $86.33 and its two-hundred day simple moving average is $82.06. Okta, Inc. has a one year low of $70.56 and a one year high of $114.50. The firm has a market capitalization of $16.62 billion, a PE ratio of -277.23, a price-to-earnings-growth ratio of 6.58 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Insider Activity at Okta

In related news, CFO Brett Tighe sold 5,000 shares of the company's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00. Following the completion of the sale, the chief financial officer now directly owns 112,533 shares in the company, valued at $10,015,437. This represents a 4.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.68, for a total value of $10,603,449.68. Following the transaction, the director now directly owns 1,622 shares of the company's stock, valued at approximately $130,862.96. The trade was a 98.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 978,168 shares of company stock worth $84,758,269. Company insiders own 7.00% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on OKTA. Truist Financial reaffirmed a "hold" rating and issued a $92.00 price target (up previously from $80.00) on shares of Okta in a research note on Wednesday, December 4th. Morgan Stanley raised shares of Okta from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $92.00 to $97.00 in a research report on Monday, December 2nd. Guggenheim reiterated a "buy" rating and set a $130.00 target price on shares of Okta in a report on Wednesday, December 4th. Royal Bank of Canada restated an "outperform" rating and issued a $101.00 price target on shares of Okta in a report on Wednesday, December 4th. Finally, Wells Fargo & Company increased their price objective on Okta from $80.00 to $95.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Okta currently has an average rating of "Hold" and a consensus price target of $104.87.

Okta Company 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.