Okta, Inc. (NASDAQ:OKTA) Shares Acquired by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. lifted its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 10.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,172 shares of the company’s stock after buying an additional 299 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Okta were worth $250,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Paloma Partners Management Co bought a new position in Okta during the third quarter worth $969,000. Stifel Financial Corp lifted its stake in Okta by 56.1% during the third quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock worth $2,770,000 after purchasing an additional 13,387 shares during the last quarter. Nordea Investment Management AB lifted its stake 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 purchasing an additional 382,190 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake 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 purchasing an additional 184,107 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Okta by 7.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,547 shares of the company’s stock worth $8,813,000 after purchasing an additional 8,239 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Westpark Capital restated a “buy” rating and set a $140.00 price objective on shares of Okta in a research note on Wednesday, December 4th. UBS Group raised their target price on Okta from $108.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup raised their target price on Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. JMP Securities reiterated a “market perform” rating on shares of Okta in a research note on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft cut Okta from a “buy” rating to a “hold” rating and cut their target price for the company from $115.00 to $85.00 in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Okta presently has a consensus rating of “Hold” and a consensus price target of $106.13.

Insider Buying and Selling

In related news, insider Larissa Schwartz sold 2,740 shares of Okta stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total value of $267,396.60. Following the transaction, the insider now owns 22,125 shares of the company’s stock, valued at approximately $2,159,178.75. This trade represents a 11.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jacques Frederic Kerrest sold 65,000 shares of Okta stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $97.50, for a total value of $6,337,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 980,908 shares of company stock valued at $85,025,665 over the last three months. Company insiders own 7.00% of the company’s stock.

Okta Price Performance

NASDAQ:OKTA opened at $92.75 on Friday. The business’s 50-day moving average price is $88.64 and its 200 day moving average price is $82.54. The firm has a market cap of $15.89 billion, a P/E ratio of -265.00, a PEG ratio of 6.54 and a beta of 1.03. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $114.50. 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 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.