Evanson Asset Management LLC Makes New $259,000 Investment in Okta, Inc. (NASDAQ:OKTA)

Evanson Asset Management LLC acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, HoldingsChannel reports. The fund acquired 3,282 shares of the company’s stock, valued at approximately $259,000.

Other hedge funds also recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in Okta in the third quarter worth $25,000. Future Financial Wealth Managment LLC bought a new position in Okta in the third quarter worth approximately $26,000. Blue Trust Inc. boosted its holdings in Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after acquiring an additional 191 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in Okta in the third quarter worth approximately $32,000. Finally, Modus Advisors LLC bought a new position in Okta in the fourth quarter worth approximately $44,000. Institutional investors own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

OKTA has been the topic of several recent research reports. Wells Fargo & Company increased their price target on Okta from $80.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft lowered Okta from a “buy” rating to a “hold” rating and dropped their target price for the company from $115.00 to $85.00 in a report on Tuesday, November 12th. Robert W. Baird raised their target price on Okta from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. BMO Capital Markets raised their target price on Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Scotiabank raised their target price on Okta from $92.00 to $96.00 and gave the company a “sector perform” rating in a report on Wednesday, December 4th. One 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 MarketBeat.com, Okta currently has an average rating of “Hold” and a consensus price target of $104.61.

Insider Transactions at Okta

In other news, CEO Todd Mckinnon sold 233,028 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Larissa Schwartz sold 2,704 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $80.50, for a total value of $217,672.00. Following the completion of the transaction, the insider now directly owns 24,462 shares of the company’s stock, valued at $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 369,949 shares of company stock valued at $30,201,213 over the last three months. Company insiders own 7.00% of the company’s stock.

Okta Price Performance

Okta stock opened at $87.29 on Tuesday. Okta, Inc. has a one year low of $70.56 and a one year high of $114.50. The business has a fifty day moving average price of $81.23 and a 200-day moving average price of $82.28. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $14.96 billion, a P/E ratio of -249.40, a PEG ratio of 8.52 and a beta of 1.00.

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.