Wilmington Savings Fund Society FSB Purchases New Shares in Okta, Inc. (NASDAQ:OKTA)

Wilmington Savings Fund Society FSB acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,452 shares of the company’s stock, valued at approximately $108,000.

A number of other institutional investors also recently bought and sold shares of the business. Caprock Group LLC boosted its stake in shares of Okta by 4.7% during the second quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock worth $267,000 after buying an additional 129 shares during the period. National Bank of Canada FI raised its stake in Okta by 11.0% during the 2nd quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock valued at $124,000 after acquiring an additional 130 shares during the last quarter. Bleakley Financial Group LLC lifted its position in Okta by 4.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after acquiring an additional 182 shares during the period. Creative Financial Designs Inc. ADV grew its stake in shares of Okta by 12.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock valued at $127,000 after purchasing an additional 188 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Okta by 105.5% in the third 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 period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Okta

In other Okta news, CEO Todd Mckinnon sold 32,516 shares of Okta stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $76.22, for a total value of $2,478,369.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Larissa Schwartz sold 2,791 shares of the stock in a transaction 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 transaction, the insider now directly owns 22,125 shares in the company, valued at approximately $1,581,937.50. This represents a 11.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 403,913 shares of company stock valued at $31,017,815. 7.00% of the stock is owned by insiders.

Okta Stock Performance

NASDAQ OKTA opened at $83.28 on Friday. 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 $14.27 billion, a price-to-earnings ratio of -237.94, a price-to-earnings-growth ratio of 8.61 and a beta of 1.00. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $114.50. The business has a fifty day moving average of $77.51 and a 200-day moving average of $83.36.

Wall Street Analysts Forecast Growth

OKTA has been the subject of several recent research reports. DA Davidson increased their price target on Okta from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Morgan Stanley raised shares of Okta from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $92.00 to $97.00 in a report on Monday, December 2nd. BMO Capital Markets boosted their price target on shares of Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company raised their price objective on shares of Okta from $80.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Finally, Stifel Nicolaus boosted their target price on Okta from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $104.45.

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.