Symmetry Investments LP Acquires Shares of 17,200 Okta, Inc. (NASDAQ:OKTA)

Symmetry Investments LP bought a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,200 shares of the company's stock, valued at approximately $1,355,000.

Several other hedge funds have also made changes to their positions in OKTA. Norges Bank acquired a new stake in Okta during the 4th quarter worth approximately $234,992,000. Marshall Wace LLP increased its holdings in shares of Okta by 35.5% in the fourth quarter. Marshall Wace LLP now owns 3,583,937 shares of the company's stock valued at $282,414,000 after purchasing an additional 938,509 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Okta by 570.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 869,362 shares of the company's stock worth $68,506,000 after purchasing an additional 739,707 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of 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. Finally, Nordea Investment Management AB grew its position in 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 buying an additional 382,190 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Insider Buying and Selling at Okta

In other news, CFO Brett Tighe sold 5,000 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $87.29, for a total value of $436,450.00. Following the completion of the sale, the chief financial officer now owns 107,533 shares of the company's stock, valued at $9,386,555.57. This represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the firm's stock in a transaction dated 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. Insiders have sold a total of 757,192 shares of company stock worth $70,390,406 in the last quarter. 7.00% of the stock is owned by insiders.

Okta Price Performance

OKTA opened at $94.33 on Wednesday. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The company's 50 day simple moving average is $102.14 and its 200 day simple moving average is $88.94. The stock has a market capitalization of $16.38 billion, a PE ratio of -269.51, a P/E/G ratio of 6.42 and a beta of 1.07.

Analyst Ratings Changes

OKTA has been the subject of a number of analyst reports. Barclays upped their price objective on shares of Okta from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. KeyCorp increased their price target on shares of Okta from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price objective on Okta from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Friday, February 28th. UBS Group set a $135.00 target price on Okta in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada lifted their price target on Okta from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $116.03.

Okta Company 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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