Stephens Inc. AR Has $260,000 Stake in Okta, Inc. (NASDAQ:OKTA)

Stephens Inc. AR lifted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 5.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,296 shares of the company’s stock after purchasing an additional 157 shares during the quarter. Stephens Inc. AR’s holdings in Okta were worth $260,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Point72 Asset Management L.P. bought a new position in shares of Okta in the 3rd quarter worth about $49,373,000. Nordea Investment Management AB increased its holdings in Okta by 1,150.2% in the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock worth $33,146,000 after purchasing an additional 382,190 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Okta by 232.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock valued at $29,479,000 after buying an additional 277,084 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Okta by 105.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock worth $26,627,000 after buying an additional 184,107 shares in the last quarter. Finally, Quantinno Capital Management LP grew its position in shares of Okta by 126.0% during the 3rd quarter. Quantinno Capital Management LP now owns 224,360 shares of the company’s stock worth $16,679,000 after buying an additional 125,074 shares during the period. Institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling

In related news, Director Jacques Frederic Kerrest sold 131,426 shares of Okta stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $80.68, for a total value of $10,603,449.68. Following the sale, the director now owns 1,622 shares of the company’s stock, valued at approximately $130,862.96. The trade was a 98.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Todd Mckinnon sold 233,028 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 980,908 shares of company stock valued at $85,025,665. 7.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on OKTA shares. Mizuho boosted their target price on shares of Okta from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Guggenheim reissued a “buy” rating and set a $130.00 price objective on shares of Okta in a research report on Wednesday, December 4th. Jefferies Financial Group decreased their target price on Okta from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Truist Financial reissued a “hold” rating and issued a $92.00 price objective (up previously from $80.00) on shares of Okta in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised 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. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Okta presently has an average rating of “Hold” and a consensus price target of $105.45.

Okta Stock Down 4.0 %

Shares of NASDAQ:OKTA opened at $96.29 on Monday. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $114.50. The company has a market capitalization of $16.50 billion, a PE ratio of -275.11, a price-to-earnings-growth ratio of 6.58 and a beta of 1.03. The business has a fifty day moving average price of $87.42 and a two-hundred day moving average price of $82.17. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

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.