RPG Investment Advisory LLC Purchases 1,336 Shares of Okta, Inc. (NASDAQ:OKTA)

RPG Investment Advisory LLC boosted its position in Okta, Inc. (NASDAQ:OKTA) by 1.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 84,463 shares of the company’s stock after acquiring an additional 1,336 shares during the period. RPG Investment Advisory LLC’s holdings in Okta were worth $6,656,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Paloma Partners Management Co bought a new stake in Okta in the 3rd quarter valued at about $969,000. Stifel Financial Corp grew its holdings in Okta by 56.1% during the 3rd quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock valued at $2,770,000 after buying an additional 13,387 shares in the last quarter. Nordea Investment Management AB grew its holdings in Okta by 1,150.2% during the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after buying an additional 382,190 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Okta by 105.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock valued at $26,627,000 after buying an additional 184,107 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Okta by 7.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,547 shares of the company’s stock valued at $8,813,000 after buying an additional 8,239 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OKTA. Canaccord Genuity Group lifted their target price on Okta from $82.00 to $94.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Westpark Capital reaffirmed a “buy” rating and set a $140.00 target price on shares of Okta in a report on Wednesday, December 4th. Scotiabank reduced their target price on Okta from $96.00 to $94.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. Jefferies Financial Group cut their price objective on Okta from $100.00 to $90.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Finally, Sanford C. Bernstein cut their price objective on Okta from $129.00 to $124.00 and set an “outperform” rating for the company in a report on Tuesday, December 17th. One research 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. Based on data from MarketBeat, Okta currently has a consensus rating of “Hold” and an average price target of $106.13.

Insider Activity at Okta

In related news, insider Larissa Schwartz sold 2,704 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the transaction, the insider now owns 24,462 shares in the company, valued at $1,969,191. This represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jacques Frederic Kerrest sold 65,000 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $97.50, for a total value of $6,337,500.00. The disclosure for this sale can be found here. Insiders sold a total of 980,908 shares of company stock worth $85,025,665 over the last quarter. 7.00% of the stock is owned by corporate insiders.

Okta Price Performance

Shares of Okta stock opened at $92.75 on Monday. 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 company has a market cap of $15.89 billion, a PE ratio of -265.00, a P/E/G ratio of 6.42 and a beta of 1.03. The business has a 50 day moving average of $88.64 and a 200 day moving average of $82.51. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $114.50.

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.