Twenty Acre Capital LP Has $6.78 Million Stake in Okta, Inc. (NASDAQ:OKTA)

Twenty Acre Capital LP cut its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,041 shares of the company's stock after selling 5,600 shares during the period. Okta makes up 5.5% of Twenty Acre Capital LP's holdings, making the stock its 10th biggest holding. Twenty Acre Capital LP owned 0.05% of Okta worth $6,780,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of Jackson Hole Trust purchased a new stake in Okta in the fourth quarter valued at $25,000. TD Private Client Wealth LLC boosted its stake in Okta by 3,507.7% during the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock worth $37,000 after buying an additional 456 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in shares of Okta during the fourth quarter valued at about $43,000. Modus Advisors LLC acquired a new position in shares of Okta in the 4th quarter worth approximately $44,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in shares of Okta during the 4th quarter worth approximately $44,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Stock Up 2.5 %

Shares of Okta stock traded up $2.33 during trading on Tuesday, hitting $94.79. 405,984 shares of the stock traded hands, compared to its average volume of 2,550,503. 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 stock has a market cap of $16.46 billion, a P/E ratio of -270.81, a PEG ratio of 6.42 and a beta of 1.07. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $118.07. The company has a fifty day moving average price of $102.26 and a two-hundred day moving average price of $88.90.

Insider Buying and Selling at Okta

In related news, CFO Brett Tighe sold 5,000 shares of the firm's 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 transaction, the chief financial officer now directly owns 107,533 shares in the company, valued at approximately $9,386,555.57. This trade represents a 4.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Larissa Schwartz sold 11,552 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the transaction, the insider now directly owns 22,125 shares of the company's stock, valued at approximately $2,524,241.25. This represents a 34.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 759,896 shares of company stock worth $70,632,631 over the last three months. Corporate insiders own 7.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on OKTA shares. Westpark Capital restated a "buy" rating and set a $140.00 price target on shares of Okta in a research note on Friday, February 28th. BMO Capital Markets lifted their target price on Okta from $105.00 to $130.00 and gave the company a "market perform" rating in a research report on Monday, March 10th. Canaccord Genuity Group lifted their price objective on shares of Okta from $94.00 to $100.00 and gave the company a "hold" rating in a report on Tuesday, March 4th. Oppenheimer raised their price target on shares of Okta from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. lifted their target price on Okta from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Okta presently has an average rating of "Moderate Buy" and an average price target of $116.03.

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.