Okta, Inc. (NASDAQ:OKTA) Shares Purchased by Vestcor Inc

Vestcor Inc lifted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 573.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,485 shares of the company’s stock after purchasing an additional 20,000 shares during the quarter. Vestcor Inc’s holdings in Okta were worth $1,851,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in OKTA. Itau Unibanco Holding S.A. acquired a new stake in shares of Okta during the third quarter worth $25,000. Bank of Jackson Hole Trust acquired a new stake in shares of Okta during the fourth quarter worth $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Okta during the third quarter worth $32,000. Modus Advisors LLC acquired a new stake in shares of Okta during the fourth quarter worth $44,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Okta during the fourth quarter worth $44,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on OKTA shares. Scotiabank raised their price objective on Okta from $94.00 to $109.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 4th. Piper Sandler increased their target price on Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Barclays increased their target price on Okta from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. UBS Group set a $135.00 target price on Okta in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada increased their target price on Okta from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $114.39.

Okta Stock Up 5.6 %

NASDAQ:OKTA opened at $112.55 on Friday. The company has a market capitalization of $19.29 billion, a price-to-earnings ratio of -321.57, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. Okta, Inc. has a one year low of $70.56 and a one year high of $116.96. The stock has a 50-day simple moving average of $94.58 and a 200 day simple moving average of $83.35. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Insider Buying and Selling

In other Okta news, insider Larissa Schwartz sold 2,740 shares of Okta stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total value of $267,396.60. Following the completion of the transaction, the insider now directly owns 22,125 shares in the company, valued at $2,159,178.75. The trade was a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jacques Frederic Kerrest sold 130,000 shares of Okta stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total value of $13,650,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 979,482 shares of company stock worth $88,072,216. Corporate insiders own 7.00% of the company’s stock.

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.