Paloma Partners Management Co Purchases Shares of 13,032 Okta, Inc. (NASDAQ:OKTA)

Paloma Partners Management Co bought a new position in Okta, Inc. (NASDAQ:OKTA - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 13,032 shares of the company's stock, valued at approximately $969,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caprock Group LLC raised its stake in shares of Okta by 4.7% in the 2nd quarter. Caprock Group LLC now owns 2,856 shares of the company's stock valued at $267,000 after acquiring an additional 129 shares during the period. National Bank of Canada FI raised its position in Okta by 11.0% in the second quarter. National Bank of Canada FI now owns 1,315 shares of the company's stock valued at $124,000 after purchasing an additional 130 shares during the period. EverSource Wealth Advisors LLC raised its position in Okta by 71.4% in the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company's stock valued at $36,000 after purchasing an additional 142 shares during the period. CWM LLC lifted its stake in shares of Okta by 5.3% during the second quarter. CWM LLC now owns 2,910 shares of the company's stock worth $272,000 after purchasing an additional 147 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its position in shares of Okta by 4.6% in the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company's stock worth $306,000 after buying an additional 182 shares during the period. Institutional investors and hedge funds own 86.64% of the company's stock.

Insider Activity at Okta

In other news, insider Larissa Schwartz sold 2,790 shares of the firm's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.01, for a total transaction of $206,487.90. Following the transaction, the insider now directly owns 27,713 shares of the company's stock, valued at approximately $2,051,039.13. This trade represents a 9.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Mckinnon sold 32,516 shares of the company's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $76.22, for a total transaction of $2,478,369.52. The disclosure for this sale can be found here. Insiders have sold a total of 475,789 shares of company stock worth $35,701,361 in the last ninety days. 7.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on OKTA shares. Morgan Stanley raised Okta from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $92.00 to $97.00 in a research report on Monday. Westpark Capital reissued a "buy" rating and set a $140.00 target price on shares of Okta in a research report on Thursday, August 29th. Robert W. Baird lowered their price target on shares of Okta from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Friday, October 18th. Wells Fargo & Company cut their price objective on shares of Okta from $90.00 to $80.00 and set an "equal weight" rating on the stock in a report on Thursday, October 17th. Finally, The Goldman Sachs Group lowered their target price on Okta from $113.00 to $97.00 and set a "buy" rating for the company in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $98.62.

Okta Stock Performance

OKTA stock traded up $0.86 during mid-day trading on Tuesday, reaching $81.71. The company had a trading volume of 8,774,606 shares, compared to its average volume of 2,004,942. The stock's 50-day simple moving average is $75.03 and its two-hundred day simple moving average is $84.42. The stock has a market capitalization of $13.88 billion, a P/E ratio of -97.27, a P/E/G ratio of 19.79 and a beta of 1.00. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. Okta, Inc. has a one year low of $70.56 and a one year high of $114.50.

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.