Arizona State Retirement System Increases Position in Okta, Inc. (NASDAQ:OKTA)

Arizona State Retirement System lifted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 2.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 47,155 shares of the company’s stock after buying an additional 1,043 shares during the quarter. Arizona State Retirement System’s holdings in Okta were worth $3,716,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bank of Jackson Hole Trust acquired a new stake in Okta during the 4th quarter worth approximately $25,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Okta during the third quarter worth $25,000. Legacy Investment Solutions LLC purchased a new position in Okta in the 3rd quarter valued at $32,000. Wingate Wealth Advisors Inc. purchased a new position in Okta in the 4th quarter valued at $44,000. Finally, Modus Advisors LLC acquired a new position in Okta in the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 130,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total value of $13,650,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larissa Schwartz sold 2,740 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total value of $267,396.60. Following the sale, the insider now owns 22,125 shares in the company, valued at $2,159,178.75. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 979,482 shares of company stock worth $88,072,216. Corporate insiders own 7.00% of the company’s stock.

Okta Stock Up 1.1 %

Shares of NASDAQ:OKTA opened at $112.44 on Monday. 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 company has a market capitalization of $19.27 billion, a P/E ratio of -321.26, a P/E/G 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 $116.96. The stock’s fifty day simple moving average is $91.72 and its 200-day simple moving average is $82.79.

Wall Street Analyst Weigh In

OKTA has been the subject of several recent analyst reports. Scotiabank raised their target price on shares of Okta from $94.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 4th. The Goldman Sachs Group raised their price objective on shares of Okta from $107.00 to $123.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Jefferies Financial Group boosted their target price on Okta from $90.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday, March 4th. KeyCorp increased their target price on Okta from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada lifted their price target on Okta from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.