Okta, Inc. (NASDAQ:OKTA) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System increased its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 2.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,155 shares of the company’s stock after purchasing an additional 1,043 shares during the period. Arizona State Retirement System’s holdings in Okta were worth $3,716,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stephens Inc. AR increased its stake in Okta by 5.0% during the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock worth $260,000 after acquiring an additional 157 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Okta by 2.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock worth $605,000 after purchasing an additional 180 shares during the period. CHICAGO TRUST Co NA increased its position in shares of 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 purchasing an additional 191 shares during the last quarter. Principal Securities Inc. raised its holdings in Okta by 13.8% in the 4th quarter. Principal Securities Inc. now owns 1,686 shares of the company’s stock valued at $133,000 after buying an additional 204 shares during the period. Finally, Metis Global Partners LLC lifted its position in Okta by 6.4% in the fourth quarter. Metis Global Partners LLC now owns 3,386 shares of the company’s stock valued at $267,000 after buying an additional 205 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OKTA has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $115.00 price target on shares of Okta in a research report on Tuesday, March 4th. Canaccord Genuity Group increased their price objective on shares of Okta from $94.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, March 4th. Oppenheimer boosted their target price on Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Scotiabank raised their price target on Okta from $94.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 4th. Finally, UBS Group lifted their price objective on Okta from $108.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Okta presently has an average rating of “Moderate Buy” and an average target price of $113.10.

Insider Buying and Selling

In related news, Director Jacques Frederic Kerrest sold 130,000 shares of Okta stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total transaction of $13,650,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Todd Mckinnon sold 233,028 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $82.31, for a total transaction of $19,180,534.68. The disclosure for this sale can be found here. Insiders sold a total of 979,482 shares of company stock worth $88,072,216 over the last 90 days. 7.00% of the stock is owned by insiders.

Okta Stock Up 1.1 %

Shares of NASDAQ OKTA opened at $112.44 on Monday. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $116.96. The company has a market capitalization of $19.27 billion, a price-to-earnings ratio of -321.26, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The business has a 50-day moving average of $91.72 and a two-hundred day moving average of $82.79.

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.