Okta, Inc. (NASDAQ:OKTA) Shares Purchased by Pinebridge Investments L.P.

Pinebridge Investments L.P. lifted its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 5.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 189,366 shares of the company's stock after buying an additional 9,144 shares during the period. Pinebridge Investments L.P. owned 0.11% of Okta worth $14,922,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in shares of Okta during the 4th quarter worth $1,686,000. Nordea Investment Management AB boosted its stake in Okta by 1,150.2% in the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company's stock worth $33,146,000 after buying an additional 382,190 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Okta by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company's stock valued at $87,903,000 after buying an additional 46,064 shares during the period. Westpac Banking Corp grew its holdings in Okta by 2,574.9% in the 4th quarter. Westpac Banking Corp now owns 9,817 shares of the company's stock valued at $774,000 after buying an additional 9,450 shares during the period. Finally, Forsta AP Fonden increased its stake in shares of Okta by 40.5% during the 4th quarter. Forsta AP Fonden now owns 73,900 shares of the company's stock valued at $5,823,000 after acquiring an additional 21,300 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Stock Performance

Shares of OKTA traded up $1.41 during mid-day trading on Monday, hitting $104.79. The stock had a trading volume of 1,906,600 shares, compared to its average volume of 2,576,580. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The company has a market cap of $18.19 billion, a PE ratio of -299.40, a PEG ratio of 6.42 and a beta of 1.07. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $118.07. The company's fifty day simple moving average is $102.42 and its two-hundred day simple moving average is $89.58.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on OKTA shares. Roth Capital started coverage on shares of Okta in a report on Wednesday, April 23rd. They issued a "buy" rating and a $119.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on shares of Okta from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Truist Financial increased their target price on Okta from $92.00 to $100.00 and gave the stock a "hold" rating in a research report on Tuesday, March 4th. Jefferies Financial Group lifted their target price on Okta from $90.00 to $110.00 and gave the company a "hold" rating in a report on Tuesday, March 4th. Finally, KeyCorp raised their price objective on Okta from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Okta currently has an average rating of "Moderate Buy" and an average target price of $116.12.

Insiders Place Their Bets

In other Okta news, insider Larissa Schwartz sold 11,552 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value of $1,317,967.68. Following the sale, the insider now directly owns 22,125 shares of the company's stock, valued at $2,524,241.25. This trade represents a 34.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the business's stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $93.00, for a total transaction of $12,090,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 362,192 shares of company stock valued at $35,988,856. Company insiders own 7.00% of the company's stock.

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.