Rezny Wealth Management Inc. Raises Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Rezny Wealth Management Inc. raised its stake in Okta, Inc. (NASDAQ:OKTA) by 3.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 19,148 shares of the company’s stock after purchasing an additional 639 shares during the quarter. Okta comprises about 0.4% of Rezny Wealth Management Inc.’s investment portfolio, making the stock its 23rd biggest position. Rezny Wealth Management Inc.’s holdings in Okta were worth $1,509,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in shares of Okta by 20.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,029,753 shares of the company’s stock worth $96,388,000 after buying an additional 178,011 shares during the period. Amalgamated Bank lifted its stake in Okta by 5.2% during the 2nd quarter. Amalgamated Bank now owns 9,351 shares of the company’s stock worth $875,000 after acquiring an additional 461 shares in the last quarter. XTX Topco Ltd boosted its holdings in Okta by 21.0% during the 2nd quarter. XTX Topco Ltd now owns 7,531 shares of the company’s stock valued at $705,000 after acquiring an additional 1,309 shares during the period. Intech Investment Management LLC grew its position in Okta by 36.4% in the 2nd quarter. Intech Investment Management LLC now owns 15,116 shares of the company’s stock valued at $1,415,000 after acquiring an additional 4,031 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Okta by 639.5% during the second quarter. Canada Pension Plan Investment Board now owns 56,200 shares of the company’s stock worth $5,261,000 after purchasing an additional 48,600 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Westpark Capital reissued a “buy” rating and issued a $140.00 price objective on shares of Okta in a research note on Wednesday, December 4th. Jefferies Financial Group decreased their price target on shares of Okta from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Truist Financial reaffirmed a “hold” rating and set a $92.00 price objective (up previously from $80.00) on shares of Okta in a research report on Wednesday, December 4th. Guggenheim reiterated a “buy” rating and issued a $130.00 target price on shares of Okta in a report on Wednesday, December 4th. Finally, Citigroup upped their price target on Okta from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Okta has an average rating of “Hold” and a consensus price target of $104.61.

Okta Trading Up 1.9 %

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

Insider Activity at Okta

In related news, CEO Todd Mckinnon sold 233,028 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Larissa Schwartz sold 2,791 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $71.50, for a total value of $199,556.50. Following the sale, the insider now directly owns 22,125 shares of the company’s stock, valued at $1,581,937.50. The trade was a 11.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 369,949 shares of company stock worth $30,201,213 in the last 90 days. 7.00% of the stock is owned by insiders.

About Okta

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.