Okta, Inc. (NASDAQ:OKTA) Position Lifted by Pacer Advisors Inc.

Pacer Advisors Inc. raised its stake in Okta, Inc. (NASDAQ:OKTA) by 162.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 29,103 shares of the company’s stock after purchasing an additional 18,029 shares during the period. Pacer Advisors Inc.’s holdings in Okta were worth $2,293,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of OKTA. Itau Unibanco Holding S.A. acquired a new stake in Okta during the third quarter valued at approximately $25,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Okta during the 3rd quarter valued at approximately $26,000. Blue Trust Inc. lifted its stake in Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in Okta in the third quarter worth $32,000. Finally, Modus Advisors LLC bought a new stake in Okta during the fourth quarter valued at $44,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. DA Davidson raised their price target on shares of Okta from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft downgraded 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 increased their price target on Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Truist Financial restated a “hold” rating and set a $92.00 price objective (up previously from $80.00) on shares of Okta in a research report on Wednesday, December 4th. Finally, Mizuho dropped their target price on Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Okta presently has a consensus rating of “Hold” and a consensus price target of $104.55.

Okta Price Performance

OKTA stock opened at $94.22 on Friday. Okta, Inc. has a one year low of $70.56 and a one year high of $114.50. The firm has a 50-day moving average of $84.07 and a two-hundred day moving average of $82.20. The firm has a market capitalization of $16.14 billion, a PE ratio of -269.20, a P/E/G ratio of 9.49 and a beta of 1.00. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.

Insider Activity

In other Okta news, insider Larissa Schwartz sold 2,791 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $71.50, for a total transaction of $199,556.50. Following the completion of the sale, the insider now directly owns 22,125 shares in the company, valued at approximately $1,581,937.50. This trade represents a 11.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Todd Mckinnon sold 233,028 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The disclosure for this sale can be found here. Insiders have sold 910,959 shares of company stock worth $78,146,525 over the last 90 days. 7.00% of the stock is owned by company insiders.

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.