Proficio Capital Partners LLC Buys New Shares in Okta, Inc. (NASDAQ:OKTA)

Proficio Capital Partners LLC purchased a new position in Okta, Inc. (NASDAQ:OKTA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 62,477 shares of the company’s stock, valued at approximately $4,923,000.

A number of other large investors have also bought and sold shares of OKTA. Stephens Inc. AR boosted its position in shares of Okta by 5.0% during the 4th quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock worth $260,000 after purchasing an additional 157 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in 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 buying an additional 180 shares during the period. Creative Financial Designs Inc. ADV boosted its holdings in Okta by 12.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock worth $127,000 after acquiring an additional 188 shares in the last quarter. CHICAGO TRUST Co NA grew its stake in Okta by 6.5% in the fourth quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock valued at $246,000 after acquiring an additional 191 shares during the period. Finally, Principal Securities Inc. increased its holdings in shares of Okta by 13.8% during the fourth quarter. Principal Securities Inc. now owns 1,686 shares of the company’s stock valued at $133,000 after acquiring an additional 204 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OKTA has been the topic of a number of recent research reports. Sanford C. Bernstein cut their target price on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a report on Tuesday, December 17th. BMO Capital Markets raised their price objective on shares of Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Scotiabank decreased their target price on shares of Okta from $96.00 to $94.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. The Goldman Sachs Group raised their price target on shares of Okta from $97.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Barclays boosted their price objective on Okta from $96.00 to $105.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $105.67.

Insider Transactions at Okta

In related news, Director Jacques Frederic Kerrest sold 3,306 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total transaction of $293,738.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 2,740 shares of Okta stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $97.59, for a total transaction of $267,396.60. Following the completion of the transaction, the insider now owns 22,125 shares of the company’s stock, valued at $2,159,178.75. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 849,482 shares of company stock worth $74,422,216. 7.00% of the stock is owned by company insiders.

Okta Stock Performance

NASDAQ:OKTA opened at $87.16 on Tuesday. The company has a market capitalization of $14.94 billion, a P/E ratio of -249.03, a P/E/G ratio of 6.42 and a beta of 1.03. The business has a fifty day simple moving average of $89.37 and a two-hundred day simple moving average of $82.38. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a 1 year low of $70.56 and a 1 year 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.