Norden Group LLC Invests $245,000 in Okta, Inc. (NASDAQ:OKTA)

Norden Group LLC acquired a new stake in shares of Okta, Inc. (NASDAQ:OKTA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,106 shares of the company’s stock, valued at approximately $245,000.

Several other large investors also recently bought and sold shares of the business. Itau Unibanco Holding S.A. bought a new position in Okta during the 3rd quarter valued at about $25,000. Bank of Jackson Hole Trust purchased a new position in shares of Okta during the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new position in Okta during the third quarter valued at approximately $32,000. Modus Advisors LLC purchased a new stake in Okta in the fourth quarter worth approximately $44,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in Okta in the 4th quarter worth approximately $44,000. 86.64% of the stock is currently owned by institutional investors.

Okta Stock Up 24.3 %

Shares of OKTA stock opened at $108.31 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The stock has a market cap of $18.56 billion, a P/E ratio of -309.46, a PEG ratio of 6.42 and a beta of 1.09. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $114.50. The company’s fifty day simple moving average is $89.88 and its two-hundred day simple moving average is $82.47.

Insider Buying and Selling at Okta

In related news, insider Larissa Schwartz sold 2,740 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $97.59, for a total transaction of $267,396.60. Following the sale, the insider now owns 22,125 shares of the company’s stock, valued at $2,159,178.75. This represents a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd Mckinnon sold 233,028 shares of the stock in a transaction dated Friday, December 20th. The shares were 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. Insiders sold 849,482 shares of company stock worth $74,422,216 in the last quarter. 7.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OKTA. Jefferies Financial Group increased their price target on Okta from $90.00 to $110.00 and gave the company a “hold” rating in a report on Tuesday. Mizuho raised Okta from a “neutral” rating to an “outperform” rating and increased their target price for the company from $110.00 to $127.00 in a report on Tuesday. DA Davidson upgraded Okta from a “neutral” rating to a “buy” rating and boosted their price target for the company from $90.00 to $125.00 in a research note on Tuesday. Robert W. Baird upped their price target on shares of Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Oppenheimer raised their price objective on shares of Okta from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $113.10.

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.