4,950 Shares in Okta, Inc. (NASDAQ:OKTA) Purchased by Legal Advantage Investments Inc.

Legal Advantage Investments Inc. purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,950 shares of the company’s stock, valued at approximately $390,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in Okta in the 3rd quarter valued at about $25,000. Future Financial Wealth Managment LLC acquired a new position in Okta in the 3rd quarter valued at about $26,000. Blue Trust Inc. boosted its holdings in Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after purchasing an additional 191 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in Okta in the 3rd quarter valued at about $32,000. Finally, Modus Advisors LLC acquired a new position in Okta in the 4th quarter valued at about $44,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Price Performance

NASDAQ:OKTA opened at $87.29 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a 50-day moving average price of $81.23 and a two-hundred day moving average price of $82.28. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50.

Wall Street Analysts Forecast Growth

OKTA has been the topic of several recent analyst reports. Robert W. Baird upped their price objective on shares of Okta from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Piper Sandler upped their price objective on shares of Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Truist Financial restated a “hold” rating and issued a $92.00 price objective (up from $80.00) on shares of Okta in a report on Wednesday, December 4th. 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 note on Wednesday, December 4th. Finally, Canaccord Genuity Group upped their target price on shares of Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. One research 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. According to data from MarketBeat, Okta presently has an average rating of “Hold” and a consensus target price of $104.61.

Insider Buying and Selling at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 131,426 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the transaction, the director now owns 1,622 shares of the company’s stock, valued at $130,862.96. This trade represents a 98.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Todd Mckinnon sold 233,028 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last three months, insiders sold 369,949 shares of company stock worth $30,201,213. 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.