Stephens Investment Management Group LLC Acquires 42,176 Shares of Okta, Inc. (NASDAQ:OKTA)

Stephens Investment Management Group LLC lifted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 452,307 shares of the company’s stock after buying an additional 42,176 shares during the quarter. Stephens Investment Management Group LLC owned about 0.26% of Okta worth $35,642,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of OKTA. Paloma Partners Management Co acquired a new position in shares of Okta in the 3rd quarter valued at $969,000. Stifel Financial Corp lifted its stake in Okta by 56.1% in the third quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock valued at $2,770,000 after buying an additional 13,387 shares during the period. Nordea Investment Management AB boosted its holdings in Okta by 1,150.2% during the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock worth $33,146,000 after buying an additional 382,190 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Okta by 105.8% during the third 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 during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Okta by 7.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,547 shares of the company’s stock worth $8,813,000 after buying an additional 8,239 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Stock Performance

Shares of OKTA stock opened at $97.00 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $114.50. The company has a 50-day simple moving average of $85.99 and a 200 day simple moving average of $82.10.

Wall Street Analysts Forecast Growth

OKTA has been the topic of several recent analyst reports. Truist Financial reissued a “hold” rating and set a $92.00 price objective (up previously from $80.00) on shares of Okta in a research note on Wednesday, December 4th. Westpark Capital reaffirmed a “buy” rating and set a $140.00 price objective on shares of Okta in a research note on Wednesday, December 4th. Barclays increased their price target on Okta from $81.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. Scotiabank decreased their price objective on Okta from $96.00 to $94.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $101.00 price target on shares of Okta in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Okta has a consensus rating of “Hold” and an average price target of $104.55.

Insider Transactions at Okta

In other news, CEO Todd Mckinnon sold 233,028 shares of Okta stock in a transaction on Friday, December 20th. The stock was sold at an average price of $82.31, for a total transaction of $19,180,534.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Larissa Schwartz sold 2,704 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were 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 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 disclosure for this sale can be found here. Insiders sold a total of 978,168 shares of company stock worth $84,758,269 over the last quarter. Company insiders own 7.00% of the company’s stock.

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.