Washington Harbour Partners LP Boosts Stake in Okta, Inc. (NASDAQ:OKTA)

Washington Harbour Partners LP lifted its holdings in Okta, Inc. (NASDAQ:OKTA) by 19.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,760 shares of the company’s stock after acquiring an additional 5,800 shares during the period. Okta accounts for about 4.8% of Washington Harbour Partners LP’s portfolio, making the stock its 8th biggest holding. Washington Harbour Partners LP’s holdings in Okta were worth $2,658,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Tidal Investments LLC raised its position in shares of Okta by 15.7% during the first quarter. Tidal Investments LLC now owns 5,405 shares of the company’s stock valued at $565,000 after buying an additional 734 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Okta by 87.4% during the first quarter. Cetera Investment Advisers now owns 17,265 shares of the company’s stock valued at $1,806,000 after buying an additional 8,051 shares during the last quarter. Cetera Advisors LLC bought a new stake in shares of Okta during the first quarter valued at approximately $946,000. EverSource Wealth Advisors LLC raised its position in shares of Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after buying an additional 142 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of Okta by 10.0% during the second quarter. Harbor Capital Advisors Inc. now owns 5,115 shares of the company’s stock valued at $479,000 after buying an additional 465 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on OKTA. Canaccord Genuity Group raised their target price on shares of Okta from $82.00 to $94.00 and gave the company a “hold” rating in a report on Wednesday. Wells Fargo & Company raised their target price on shares of Okta from $80.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday. Piper Sandler raised their target price on shares of Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and issued a $101.00 target price on shares of Okta in a report on Wednesday. Finally, JMP Securities reissued a “market perform” rating on shares of Okta in a report on Wednesday. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $103.77.

Okta Stock Performance

OKTA stock opened at $83.51 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. The business has a 50-day moving average price of $75.56 and a 200 day moving average price of $84.28. The company has a market capitalization of $14.19 billion, a P/E ratio of -238.60, a PEG ratio of 20.94 and a beta of 1.00. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $114.50.

Insider Activity at Okta

In other Okta news, insider Larissa Schwartz sold 2,790 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.01, for a total value of $206,487.90. Following the completion of the transaction, the insider now directly owns 27,713 shares in the company, valued at approximately $2,051,039.13. The trade was a 9.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Todd Mckinnon sold 224,533 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $74.62, for a total transaction of $16,754,652.46. The disclosure for this sale can be found here. Insiders sold 607,215 shares of company stock worth $46,304,810 over the last three months. 7.00% of the stock is owned by corporate insiders.

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.