Point72 DIFC Ltd bought a new stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,376 shares of the company's stock, valued at approximately $548,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Cetera Investment Advisers boosted its holdings in shares of Okta by 87.4% in the 1st quarter. Cetera Investment Advisers now owns 17,265 shares of the company's stock valued at $1,806,000 after buying an additional 8,051 shares in the last quarter. Cetera Advisors LLC purchased a new position in Okta in the first quarter worth $946,000. CWM LLC increased its position 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. Blue Zone Wealth Advisors LLC lifted its holdings in shares of Okta by 201.9% during the 2nd quarter. Blue Zone Wealth Advisors LLC now owns 16,402 shares of the company's stock valued at $1,535,000 after purchasing an additional 10,969 shares during the last quarter. Finally, Diversified Trust Co boosted its position in shares of Okta by 18.7% in the 2nd quarter. Diversified Trust Co now owns 23,732 shares of the company's stock worth $2,222,000 after purchasing an additional 3,742 shares in the last quarter. Institutional investors own 86.64% of the company's stock.
Wall Street Analyst Weigh In
OKTA has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price target on Okta from $85.00 to $100.00 and gave the company a "hold" rating in a research note on Wednesday. Needham & Company LLC lifted their target price on shares of Okta from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday. UBS Group cut their price target on shares of Okta from $120.00 to $108.00 and set a "buy" rating on the stock in a research note on Thursday, August 29th. BMO Capital Markets lifted their price objective on shares of Okta from $103.00 to $105.00 and gave the stock a "market perform" rating in a research note on Wednesday. Finally, Truist Financial reissued a "hold" rating and issued a $92.00 target price (up from $80.00) on shares of Okta in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $103.77.
Check Out Our Latest Analysis on Okta
Insider Activity
In related news, CEO Todd Mckinnon sold 224,533 shares of Okta stock in a transaction on Friday, October 18th. The shares were sold at an average price of $74.62, for a total value of $16,754,652.46. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the company's stock in a transaction on 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 transaction, the director now owns 1,622 shares of the company's stock, valued at $130,862.96. This represents a 98.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 607,215 shares of company stock worth $46,304,810 over the last three months. 7.00% of the stock is currently owned by corporate insiders.
Okta Price Performance
NASDAQ OKTA traded up $1.28 during trading hours on Friday, reaching $84.79. The company's stock had a trading volume of 5,295,390 shares, compared to its average volume of 3,695,332. The company's 50-day moving average is $75.77 and its two-hundred day moving average is $84.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $114.50.
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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