Vanguard Group Inc. Acquires 1,237 Shares of Okta, Inc. (NASDAQ:OKTA)

Vanguard Group Inc. raised its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 0.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 17,209,930 shares of the company’s stock after purchasing an additional 1,237 shares during the quarter. Vanguard Group Inc. owned approximately 0.10% of Okta worth $1,356,142,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Frank Rimerman Advisors LLC increased its holdings in Okta by 2.4% in the fourth quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock valued at $352,000 after purchasing an additional 105 shares during the last quarter. Stephens Inc. AR grew its position in shares of Okta by 5.0% during the 4th quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock worth $260,000 after buying an additional 157 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Okta by 2.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock valued at $605,000 after acquiring an additional 180 shares during the last quarter. Great Lakes Advisors LLC raised its position in shares of Okta by 2.7% in the 4th quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company’s stock valued at $557,000 after acquiring an additional 184 shares during the period. Finally, CHICAGO TRUST Co NA boosted its stake in Okta by 6.5% during the 4th quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock worth $246,000 after acquiring an additional 191 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Buying and Selling at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 3,306 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total value of $293,738.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Brett Tighe sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00. Following the sale, the chief financial officer now directly owns 112,533 shares of the company’s stock, valued at approximately $10,015,437. This trade represents a 4.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 763,901 shares of company stock valued at $70,880,205 in the last three months. Corporate insiders own 7.00% of the company’s stock.

Wall Street Analysts Forecast Growth

OKTA has been the subject of several recent analyst reports. Scotiabank upped their target price on shares of Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 4th. Sanford C. Bernstein lowered their price objective on shares of Okta from $129.00 to $124.00 and set an “outperform” rating for the company in a research report on Tuesday, December 17th. Piper Sandler lifted their target price on Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. The Goldman Sachs Group increased their price target on Okta from $107.00 to $123.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, Barclays lifted their price objective on Okta from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $115.29.

Okta Stock Down 2.5 %

NASDAQ OKTA opened at $111.20 on Friday. The company has a market cap of $19.30 billion, a price-to-earnings ratio of -317.71, a PEG ratio of 6.42 and a beta of 1.09. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $118.07. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average of $99.92 and a 200-day moving average of $85.43.

Okta Company 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.