Okta, Inc. (NASDAQ:OKTA) Shares Purchased by Rezny Wealth Management Inc.

Rezny Wealth Management Inc. increased its stake in Okta, Inc. (NASDAQ:OKTA) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,148 shares of the company’s stock after purchasing an additional 639 shares during the period. Okta accounts for about 0.4% of Rezny Wealth Management Inc.’s portfolio, making the stock its 23rd largest position. Rezny Wealth Management Inc.’s holdings in Okta were worth $1,509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of OKTA. Marshall Wace LLP increased its holdings in shares of Okta by 117.4% in the second quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock valued at $212,841,000 after purchasing an additional 1,227,890 shares during the period. Eminence Capital LP boosted its position in Okta by 18.1% in the second quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock valued at $186,225,000 after buying an additional 305,381 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Okta by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock worth $79,503,000 after buying an additional 17,950 shares during the period. Dimensional Fund Advisors LP raised its position in Okta by 20.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,029,753 shares of the company’s stock worth $96,388,000 after buying an additional 178,011 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its stake in Okta by 9.8% during the 3rd quarter. Penserra Capital Management LLC now owns 767,962 shares of the company’s stock valued at $57,089,000 after acquiring an additional 68,757 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

OKTA has been the topic of a number of research reports. Scotiabank increased their price objective on shares of Okta from $92.00 to $96.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price target on the stock in a research report on Monday, December 16th. The Goldman Sachs Group boosted their price objective on Okta from $97.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Piper Sandler raised 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. Finally, DA Davidson boosted their price target on Okta from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $104.61.

Insiders Place Their Bets

In other news, CEO Todd Mckinnon sold 233,028 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $82.31, for a total transaction of $19,180,534.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Larissa Schwartz sold 2,791 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $71.50, for a total transaction of $199,556.50. Following the sale, the insider now owns 22,125 shares of the company’s stock, valued at approximately $1,581,937.50. The trade was a 11.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 369,949 shares of company stock valued at $30,201,213 in the last ninety days. 7.00% of the stock is currently owned by corporate insiders.

Okta Price Performance

OKTA opened at $87.29 on Tuesday. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50. 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 firm’s 50-day moving average price is $81.23 and its 200 day moving average price is $82.28.

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.