CHICAGO TRUST Co NA Grows Holdings in Okta, Inc. (NASDAQ:OKTA)

CHICAGO TRUST Co NA lifted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,120 shares of the company’s stock after acquiring an additional 191 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Okta were worth $246,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Graypoint LLC acquired a new stake in Okta in the fourth quarter valued at approximately $286,000. Wealth Enhancement Advisory Services LLC grew its stake in Okta by 2.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock valued at $605,000 after acquiring an additional 180 shares during the period. ORG Partners LLC increased its holdings in Okta by 74.3% in the 4th quarter. ORG Partners LLC now owns 9,900 shares of the company’s stock worth $780,000 after acquiring an additional 4,221 shares in the last quarter. Diversified Trust Co raised its position in Okta by 11.6% during the fourth quarter. Diversified Trust Co now owns 26,492 shares of the company’s stock worth $2,088,000 after acquiring an additional 2,756 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Okta by 1,150.2% during the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after purchasing an additional 382,190 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Stock Performance

Shares of Okta stock opened at $83.49 on Tuesday. The stock has a market capitalization of $14.31 billion, a price-to-earnings ratio of -238.54, a price-to-earnings-growth ratio of 8.61 and a beta of 1.00. 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 $80.34 and a 200 day moving average of $82.57. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $114.50.

Insider Activity

In other news, CEO Todd Mckinnon sold 224,533 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $74.62, for a total value of $16,754,652.46. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Larissa Schwartz sold 2,791 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $71.50, for a total value of $199,556.50. Following the transaction, the insider now directly owns 22,125 shares of the company’s stock, valued at $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. Over the last quarter, insiders sold 594,482 shares of company stock valued at $46,955,865. 7.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on OKTA. Deutsche Bank Aktiengesellschaft downgraded shares of Okta from a “buy” rating to a “hold” rating and reduced their price target for the stock from $115.00 to $85.00 in a research report on Tuesday, November 12th. Stifel Nicolaus raised their target price on Okta from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. DA Davidson boosted their price target on Okta from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Truist Financial restated a “hold” rating and issued a $92.00 price objective (up previously from $80.00) on shares of Okta in a report on Wednesday, December 4th. Finally, Robert W. Baird upped their target price on shares of Okta from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. One 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $104.45.

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.