SWS Partners Acquires 12,430 Shares of Okta, Inc. (NASDAQ:OKTA)

SWS Partners lifted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 38.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 44,916 shares of the company’s stock after acquiring an additional 12,430 shares during the quarter. Okta comprises approximately 1.1% of SWS Partners’ portfolio, making the stock its 22nd largest holding. SWS Partners’ holdings in Okta were worth $3,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of OKTA. Itau Unibanco Holding S.A. bought a new position in shares of Okta during the 3rd quarter valued at $25,000. Bank of Jackson Hole Trust bought a new stake in shares of Okta in the fourth quarter worth $25,000. Legacy Investment Solutions LLC purchased a new stake in Okta during the third quarter valued at $32,000. Modus Advisors LLC bought a new position in Okta in the fourth quarter valued at about $44,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in Okta in the fourth quarter worth about $44,000. 86.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OKTA has been the subject of several research reports. UBS Group upped their price target on shares of Okta from $108.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Citigroup upped their target price on shares of Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Wells Fargo & Company increased their price target on shares of Okta from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft downgraded shares of Okta from a “buy” rating to a “hold” rating and cut their price objective for the company from $115.00 to $85.00 in a research report on Tuesday, November 12th. Finally, BMO Capital Markets raised their target price on Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Okta has an average rating of “Hold” and a consensus price target of $105.67.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.50, for a total value of $217,672.00. Following the sale, the insider now owns 24,462 shares in the company, valued at approximately $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brett Tighe sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were 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 in the company, valued at approximately $10,015,437. The trade was a 4.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 849,482 shares of company stock valued at $74,422,216 in the last ninety days. Corporate insiders own 7.00% of the company’s stock.

Okta Price Performance

Shares of Okta stock opened at $87.16 on Tuesday. The firm has a market cap of $14.94 billion, a PE ratio of -249.03, a PEG ratio of 6.42 and a beta of 1.03. The stock has a 50 day moving average of $89.37 and a 200 day moving average of $82.38. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 12 month low of $70.56 and a 12 month 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.