Xponance Inc. Purchases 2,271 Shares of Okta, Inc. (NASDAQ:OKTA)

Xponance Inc. raised its position in Okta, Inc. (NASDAQ:OKTA) by 11.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 22,389 shares of the company’s stock after acquiring an additional 2,271 shares during the period. Xponance Inc.’s holdings in Okta were worth $1,764,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in shares of Okta during the 3rd quarter worth approximately $25,000. Bank of Jackson Hole Trust bought a new stake in shares of Okta during the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Okta during the 3rd quarter worth approximately $32,000. Modus Advisors LLC bought a new stake in shares of Okta during the 4th quarter worth approximately $44,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Okta during the 4th quarter worth approximately $44,000. Institutional investors own 86.64% of the company’s stock.

Insider Transactions at Okta

In other Okta news, CFO Brett Tighe sold 5,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total value of $445,000.00. Following the completion of the transaction, the chief financial officer now directly owns 112,533 shares in the company, valued at approximately $10,015,437. This trade represents a 4.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Larissa Schwartz sold 11,552 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the transaction, the insider now owns 22,125 shares of the company’s stock, valued at $2,524,241.25. This represents a 34.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 763,901 shares of company stock valued at $70,880,205. 7.00% of the stock is owned by corporate insiders.

Okta Stock Performance

OKTA opened at $113.74 on Friday. The firm has a market cap of $19.75 billion, a P/E ratio of -324.97, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The business’s fifty day moving average is $97.48 and its 200-day moving average is $84.38.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on OKTA shares. BTIG Research reiterated a “buy” rating on shares of Okta in a research note on Tuesday, March 4th. BMO Capital Markets increased their price target on Okta from $105.00 to $130.00 and gave the company a “market perform” rating in a research note on Monday, March 10th. The Goldman Sachs Group increased their price target on Okta from $107.00 to $123.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Oppenheimer increased their price target on Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Finally, Susquehanna increased their price target on Okta from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.29.

Okta 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.