Russell Investments Group Ltd. Buys 4,147 Shares of Okta, Inc. (NASDAQ:OKTA)

Russell Investments Group Ltd. raised its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 12.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,895 shares of the company's stock after purchasing an additional 4,147 shares during the period. Russell Investments Group Ltd.'s holdings in Okta were worth $2,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. SBI Securities Co. Ltd. bought a new stake in Okta in the fourth quarter worth $1,686,000. Stifel Financial Corp raised its stake in shares of Okta by 56.1% in the third quarter. Stifel Financial Corp now owns 37,258 shares of the company's stock valued at $2,770,000 after acquiring an additional 13,387 shares during the period. Nordea Investment Management AB raised its stake in shares of Okta by 1,150.2% in the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company's stock valued at $33,146,000 after acquiring an additional 382,190 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Okta by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company's stock worth $87,903,000 after acquiring an additional 46,064 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in shares of Okta by 125.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 11,244 shares of the company's stock worth $861,000 after purchasing an additional 6,265 shares during the period. 86.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

OKTA has been the subject of several analyst reports. DA Davidson raised shares of Okta from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $90.00 to $125.00 in a research note on Tuesday, March 4th. Oppenheimer boosted their price objective on Okta from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Westpark Capital reaffirmed a "buy" rating and issued a $140.00 price objective on shares of Okta in a research report on Friday, February 28th. Truist Financial lifted 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. Finally, Cantor Fitzgerald assumed coverage on shares of Okta in a report on Monday, March 31st. They issued an "overweight" rating and a $130.00 price target on the stock. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Okta presently has an average rating of "Moderate Buy" and an average target price of $116.03.

Okta Stock Performance

Shares of OKTA opened at $97.93 on Friday. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $118.07. The stock has a fifty day moving average price of $102.34 and a 200-day moving average price of $88.35. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm has a market cap of $17.00 billion, a PE ratio of -279.80, a P/E/G ratio of 6.42 and a beta of 1.07.

Insider Buying and Selling at Okta

In other Okta news, insider Eric Robert Kelleher sold 5,895 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $113.75, for a total transaction of $670,556.25. Following the sale, the insider now owns 9,828 shares of the company's stock, valued at approximately $1,117,935. The trade was a 37.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Larissa Schwartz sold 2,704 shares of the company's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $89.58, for a total transaction of $242,224.32. Following the transaction, the insider now owns 23,311 shares in the company, valued at $2,088,199.38. The trade was a 10.39 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 768,202 shares of company stock worth $71,371,369. 7.00% of the stock is owned by insiders.

Okta 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.

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