Stifel Financial Corp boosted its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 56.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,258 shares of the company's stock after acquiring an additional 13,387 shares during the quarter. Stifel Financial Corp's holdings in Okta were worth $2,770,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OKTA. Atria Wealth Solutions Inc. raised its holdings in Okta by 75.4% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 11,477 shares of the company's stock valued at $1,074,000 after buying an additional 4,932 shares during the period. Rezny Wealth Management Inc. purchased a new stake in shares of Okta in the 2nd quarter valued at approximately $1,194,000. Slow Capital Inc. lifted its holdings in shares of Okta by 7.3% in the 2nd quarter. Slow Capital Inc. now owns 28,714 shares of the company's stock worth $2,688,000 after acquiring an additional 1,956 shares during the last quarter. First Command Advisory Services Inc. acquired a new position in shares of Okta in the 2nd quarter worth approximately $47,000. Finally, Railway Pension Investments Ltd boosted its position in shares of Okta by 27.7% during the 2nd quarter. Railway Pension Investments Ltd now owns 225,296 shares of the company's stock worth $21,090,000 after purchasing an additional 48,900 shares during the period. Hedge funds and other institutional investors own 86.64% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on OKTA shares. Scotiabank upped their price target on Okta from $92.00 to $96.00 and gave the stock a "sector perform" rating in a research note on Wednesday, December 4th. The Goldman Sachs Group increased their target price on Okta from $97.00 to $107.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Citigroup lifted their target price on Okta from $90.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, December 4th. UBS Group reduced their price target on shares of Okta from $120.00 to $108.00 and set a "buy" rating on the stock in a research report on Thursday, August 29th. Finally, Robert W. Baird lifted their price objective on shares of Okta from $105.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Okta currently has a consensus rating of "Hold" and an average target price of $104.45.
Read Our Latest Report on OKTA
Okta Stock Performance
Shares of Okta stock traded up $0.28 on Thursday, hitting $81.69. The stock had a trading volume of 3,263,023 shares, compared to its average volume of 2,169,798. The company's 50 day moving average price is $77.44 and its 200 day moving average price is $83.37. The stock has a market cap of $14.00 billion, a price-to-earnings ratio of -233.40, a P/E/G ratio of 8.61 and a beta of 1.00. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $114.50.
Insider Buying and Selling at Okta
In other Okta news, insider Larissa Schwartz sold 2,791 shares of Okta stock in a transaction on Monday, November 4th. The shares were sold at an average price of $71.50, for a total value of $199,556.50. Following the transaction, the insider now directly owns 22,125 shares in the company, valued at approximately $1,581,937.50. The trade was a 11.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the sale, the director now owns 1,622 shares of the company's stock, valued at $130,862.96. This trade represents a 98.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 604,425 shares of company stock worth $46,098,322. 7.00% of the stock is owned by insiders.
Okta Profile
(
Free Report)
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.
Further Reading
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