Legal Advantage Investments Inc. purchased a new position in Okta, Inc. (NASDAQ:OKTA – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,950 shares of the company’s stock, valued at approximately $390,000.
Other hedge funds have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new stake in shares of Okta in the 3rd quarter worth approximately $25,000. Future Financial Wealth Managment LLC bought a new position in Okta in the 3rd quarter valued at approximately $26,000. Blue Trust Inc. lifted its position in Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after acquiring an additional 191 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in Okta in the 3rd quarter valued at approximately $32,000. Finally, Modus Advisors LLC bought a new position in Okta in the 4th quarter valued at approximately $44,000. 86.64% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities analysts recently issued reports on OKTA shares. BTIG Research upped their price objective on Okta from $98.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group boosted their target price on shares of Okta from $97.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft lowered shares of Okta from a “buy” rating to a “hold” rating and decreased their target price for the company from $115.00 to $85.00 in a research note on Tuesday, November 12th. Susquehanna boosted their target price on shares of Okta from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley upgraded shares of Okta from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $92.00 to $97.00 in a research note on Monday, December 2nd. 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 company. According to data from MarketBeat, the stock 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $80.50, for a total transaction of $217,672.00. Following the sale, the insider now directly owns 24,462 shares of the company’s stock, valued at $1,969,191. This represents a 9.95 % decrease in their position. 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 90 days. Corporate insiders own 7.00% of the company’s stock.
Okta Trading Up 1.9 %
OKTA opened at $87.29 on Tuesday. The company has a fifty day moving average of $81.23 and a two-hundred day moving average of $82.28. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $114.50.
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.
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