Savant Capital LLC Makes New Investment in Okta, Inc. (NASDAQ:OKTA)

Savant Capital LLC bought a new stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,515 shares of the company's stock, valued at approximately $829,000.

Several other institutional investors have also recently made changes to their positions in the company. Paloma Partners Management Co acquired a new position in Okta in the 3rd quarter worth about $969,000. Stifel Financial Corp raised its stake in shares of Okta by 56.1% during the 3rd quarter. Stifel Financial Corp now owns 37,258 shares of the company's stock worth $2,770,000 after buying an additional 13,387 shares during the period. Nordea Investment Management AB lifted its position in shares of Okta by 1,150.2% during the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company's stock valued at $33,146,000 after buying an additional 382,190 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Okta by 105.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company's stock valued at $26,627,000 after acquiring an additional 184,107 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Okta by 7.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,547 shares of the company's stock worth $8,813,000 after acquiring an additional 8,239 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Trading Down 0.1 %

Shares of OKTA traded down $0.10 during trading on Wednesday, reaching $96.94. 1,268,518 shares of the company traded hands, compared to its average volume of 2,450,717. The stock has a 50-day simple moving average of $87.96 and a 200-day simple moving average of $82.28. The stock has a market cap of $16.61 billion, a PE ratio of -276.97, a price-to-earnings-growth ratio of 6.49 and a beta of 1.03. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Insider Buying and Selling

In other news, insider Larissa Schwartz sold 2,704 shares of the firm's stock in a transaction on Monday, December 30th. The stock was sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the transaction, the insider now directly owns 24,462 shares in the company, valued at $1,969,191. This trade represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the business's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total value of $33,965,100.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 980,908 shares of company stock valued at $85,025,665. Company insiders own 7.00% of the company's stock.

Wall Street Analysts Forecast Growth

OKTA has been the topic of several recent analyst reports. Barclays increased their price objective on shares of Okta from $81.00 to $96.00 and gave the company an "equal weight" rating in a report on Wednesday, December 4th. Canaccord Genuity Group lifted their price objective on Okta from $82.00 to $94.00 and gave the stock a "hold" rating in a report on Wednesday, December 4th. Morgan Stanley upgraded Okta from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $92.00 to $97.00 in a research note on Monday, December 2nd. JPMorgan Chase & Co. upgraded Okta from a "neutral" rating to an "overweight" rating and set a $100.00 target price on the stock in a research report on Monday, December 16th. Finally, Canaccord Genuity Group boosted their price target on Okta from $82.00 to $94.00 and gave the stock a "hold" rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $105.45.

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.