Okta, Inc. (NASDAQ:OKTA) Stake Boosted by Forsta AP Fonden

Forsta AP Fonden grew its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 40.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,900 shares of the company's stock after purchasing an additional 21,300 shares during the quarter. Forsta AP Fonden's holdings in Okta were worth $5,823,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in Okta in the third quarter valued at $25,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Okta in the 3rd quarter valued at about $26,000. Blue Trust Inc. grew its stake in Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company's stock worth $28,000 after buying an additional 191 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in Okta during the third quarter worth approximately $32,000. Finally, Modus Advisors LLC acquired a new stake in shares of Okta in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 86.64% of the company's stock.

Insider Activity at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 390,000 shares of the firm'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 value of $33,965,100.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the transaction, the insider now owns 24,462 shares of the company's stock, valued at $1,969,191. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 910,959 shares of company stock valued at $78,146,525 in the last quarter. Insiders own 7.00% of the company's stock.

Okta Stock Performance

Shares of NASDAQ OKTA traded up $0.46 during trading on Friday, reaching $94.22. The stock had a trading volume of 2,712,277 shares, compared to its average volume of 2,381,478. 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 market cap of $16.14 billion, a PE ratio of -269.20, a P/E/G ratio of 9.49 and a beta of 1.00. Okta, Inc. has a one year low of $70.56 and a one year high of $114.50. The firm's 50 day moving average price is $84.07 and its two-hundred day moving average price is $82.20.

Analyst Upgrades and Downgrades

OKTA has been the topic of several analyst reports. Stifel Nicolaus lifted their target price on Okta from $108.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Barclays increased their price objective on Okta from $81.00 to $96.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised shares of Okta from a "neutral" rating to an "overweight" rating and set a $100.00 price target on the stock in a research note on Monday, December 16th. KeyCorp raised shares of Okta from a "sector weight" rating to an "overweight" rating and set a $115.00 price objective for the company in a research note on Thursday, December 19th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Okta in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $104.55.

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.