Bristlecone Advisors LLC Purchases 1,719 Shares of Okta, Inc. (NASDAQ:OKTA)

Bristlecone Advisors LLC lifted its position in Okta, Inc. (NASDAQ:OKTA) by 35.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,607 shares of the company’s stock after purchasing an additional 1,719 shares during the quarter. Bristlecone Advisors LLC’s holdings in Okta were worth $521,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new position in shares of Okta in the third quarter worth $25,000. Blue Trust Inc. grew its position in Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after acquiring an additional 191 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in Okta in the third quarter worth $32,000. Wingate Wealth Advisors Inc. purchased a new position in Okta in the fourth quarter worth $44,000. Finally, Modus Advisors LLC purchased a new position in Okta in the fourth quarter worth $44,000. Institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling at Okta

In other Okta news, insider Larissa Schwartz sold 2,704 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,969,191. This trade represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total transaction of $33,965,100.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 978,168 shares of company stock valued at $84,758,269. Corporate insiders own 7.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on OKTA. Barclays upped their target price on shares of Okta from $81.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. BMO Capital Markets upped their target price on shares of Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. JMP Securities reiterated a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. Westpark Capital reiterated a “buy” rating and issued a $140.00 target price on shares of Okta in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $101.00 price target on shares of Okta in a research report on Wednesday, December 4th. One 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $104.55.

Okta Price Performance

OKTA stock opened at $97.66 on Tuesday. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $114.50. The company has a market cap of $16.73 billion, a P/E ratio of -279.03, a PEG ratio of 6.58 and a beta of 1.03. The firm has a 50-day moving average of $86.33 and a 200 day moving average of $82.06. 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.