Wilmington Savings Fund Society FSB Makes New Investment in Okta, Inc. (NASDAQ:OKTA)

Wilmington Savings Fund Society FSB purchased a new stake in shares of Okta, Inc. (NASDAQ:OKTA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,452 shares of the company’s stock, valued at approximately $108,000.

Other hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in Okta in the 3rd quarter valued at about $25,000. Future Financial Wealth Managment LLC acquired a new position in Okta in the third quarter valued at approximately $26,000. Blue Trust Inc. grew its position in Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after acquiring an additional 191 shares during the period. Legacy Investment Solutions LLC acquired a new stake in Okta during the third quarter worth $32,000. Finally, First Command Advisory Services Inc. purchased a new stake in Okta in the second quarter valued at $47,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

OKTA has been the subject of a number of recent analyst reports. KeyCorp raised Okta from a “sector weight” rating to an “overweight” rating and set a $115.00 price objective for the company in a research report on Thursday. Jefferies Financial Group dropped their price target on shares of Okta from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft lowered shares of Okta from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $115.00 to $85.00 in a report on Tuesday, November 12th. Mizuho dropped their target price on shares of Okta from $104.00 to $92.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. Finally, Robert W. Baird upped their price target on Okta from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $104.45.

Insider Buying and Selling

In related news, Director Jacques Frederic Kerrest sold 131,426 shares of Okta stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the sale, the director now directly owns 1,622 shares in the company, valued at $130,862.96. This trade represents a 98.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd Mckinnon sold 32,516 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $76.22, for a total transaction of $2,478,369.52. The disclosure for this sale can be found here. Insiders sold a total of 403,913 shares of company stock worth $31,017,815 over the last 90 days. 7.00% of the stock is owned by insiders.

Okta Trading Up 1.9 %

NASDAQ:OKTA opened at $83.28 on Friday. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $114.50. The stock has a market cap of $14.27 billion, a P/E ratio of -237.94, a P/E/G ratio of 8.61 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a 50-day simple moving average of $77.51 and a 200-day simple moving average of $83.36.

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.