Xponance Inc. Buys 2,271 Shares of Okta, Inc. (NASDAQ:OKTA)

Xponance Inc. raised its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 11.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,389 shares of the company’s stock after acquiring an additional 2,271 shares during the quarter. Xponance Inc.’s holdings in Okta were worth $1,764,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Okta by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company’s stock valued at $87,903,000 after acquiring an additional 46,064 shares during the period. Penserra Capital Management LLC lifted its holdings in shares of Okta by 9.8% during the third quarter. Penserra Capital Management LLC now owns 767,962 shares of the company’s stock valued at $57,089,000 after acquiring an additional 68,757 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Okta during the third quarter valued at $49,373,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Okta by 58.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 568,797 shares of the company’s stock valued at $44,821,000 after acquiring an additional 210,615 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Okta by 138.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock valued at $43,721,000 after acquiring an additional 322,201 shares during the period. 86.64% of the stock is owned by institutional investors.

Okta Price Performance

Okta stock opened at $113.74 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average of $97.48 and a 200-day moving average of $84.38. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $116.96. The firm has a market capitalization of $19.75 billion, a P/E ratio of -324.97, a PEG ratio of 6.42 and a beta of 1.09.

Insider Activity at Okta

In related news, insider Eric Robert Kelleher sold 5,895 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $113.75, for a total value of $670,556.25. Following the completion of the transaction, the insider now directly owns 9,828 shares in the company, valued at approximately $1,117,935. The trade was a 37.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brett Tighe sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total value of $445,000.00. Following the completion of the transaction, the chief financial officer now owns 112,533 shares of the company’s stock, valued at $10,015,437. This represents a 4.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 763,901 shares of company stock worth $70,880,205. 7.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Truist Financial lifted their price target on Okta from $92.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, March 4th. Oppenheimer lifted their price target on Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Canaccord Genuity Group lifted their price target on Okta from $94.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, March 4th. Mizuho raised Okta from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $110.00 to $127.00 in a report on Tuesday, March 4th. Finally, Stifel Nicolaus lifted their price target on Okta from $115.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $115.29.

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.