Okta, Inc. (NASDAQ:OKTA) Stock Position Increased by RWA Wealth Partners LLC

RWA Wealth Partners LLC increased its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 33.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,928 shares of the company's stock after acquiring an additional 6,437 shares during the quarter. RWA Wealth Partners LLC's holdings in Okta were worth $2,043,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Okta in the 4th quarter worth about $234,992,000. Point72 Asset Management L.P. acquired a new position in Okta during the third quarter worth approximately $49,373,000. Arrowstreet Capital Limited Partnership raised its stake in Okta by 54.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,241,220 shares of the company's stock worth $97,808,000 after purchasing an additional 440,171 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Okta by 1,150.2% in the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company's stock valued at $33,146,000 after purchasing an additional 382,190 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Okta by 138.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company's stock valued at $43,721,000 after buying an additional 322,201 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Stock Performance

NASDAQ OKTA traded down $10.52 during trading hours on Friday, hitting $89.75. The company had a trading volume of 5,199,419 shares, compared to its average volume of 2,460,711. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $118.07. The firm has a market cap of $15.58 billion, a P/E ratio of -256.57, a price-to-earnings-growth ratio of 6.42 and a beta of 1.06. 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 business has a fifty day simple moving average of $101.58 and a 200-day simple moving average of $86.54.

Remove Ads

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on OKTA shares. UBS Group set a $135.00 price objective on Okta in a research note on Tuesday, March 4th. Truist Financial boosted their price objective on shares of Okta from $92.00 to $100.00 and gave the stock a "hold" rating in a research note on Tuesday, March 4th. Stifel Nicolaus raised their target price on shares of Okta from $115.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Stephens initiated coverage on shares of Okta in a research report on Tuesday. They set an "equal weight" rating and a $127.00 price target for the company. Finally, BMO Capital Markets raised their price objective on Okta from $105.00 to $130.00 and gave the company a "market perform" rating in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $116.09.

Insider Buying and Selling

In related news, Director Jacques Frederic Kerrest sold 390,000 shares of the firm's stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $87.09, for a total value of $33,965,100.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the transaction, the insider now directly owns 22,125 shares of the company's stock, valued at approximately $2,524,241.25. The trade was a 34.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 761,197 shares of company stock valued at $70,662,533 in the last quarter. 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.