Okta, Inc. (NASDAQ:OKTA) Shares Acquired by Quarry LP

Quarry LP raised its position in shares of Okta, Inc. (NASDAQ:OKTA) by 206.3% in the third quarter, Holdings Channel.com reports. The fund owned 1,210 shares of the company’s stock after buying an additional 815 shares during the quarter. Quarry LP’s holdings in Okta were worth $90,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its holdings in shares of Okta by 87.4% during the 1st quarter. Cetera Investment Advisers now owns 17,265 shares of the company’s stock valued at $1,806,000 after acquiring an additional 8,051 shares in the last quarter. Cetera Advisors LLC acquired a new stake in Okta in the first quarter valued at approximately $946,000. CWM LLC grew its position in Okta by 5.3% in the second quarter. CWM LLC now owns 2,910 shares of the company’s stock valued at $272,000 after acquiring an additional 147 shares in the last quarter. Diversified Trust Co lifted its position in shares of Okta by 18.7% during the second quarter. Diversified Trust Co now owns 23,732 shares of the company’s stock worth $2,222,000 after purchasing an additional 3,742 shares in the last quarter. Finally, ORG Partners LLC boosted its stake in shares of Okta by 4,141.9% in the second quarter. ORG Partners LLC now owns 5,260 shares of the company’s stock valued at $497,000 after purchasing an additional 5,136 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Jacques Frederic Kerrest sold 131,426 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 1,622 shares in the company, valued at $130,862.96. This trade represents a 98.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd Mckinnon sold 200,512 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $75.21, for a total value of $15,080,507.52. Following the sale, the chief executive officer now directly owns 8,495 shares in the company, valued at approximately $638,908.95. The trade was a 95.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 607,215 shares of company stock valued at $46,304,810 in the last three months. 7.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Bank of America lowered shares of Okta from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $135.00 to $75.00 in a report on Thursday, August 29th. Westpark Capital reissued a “buy” rating and issued a $140.00 price target on shares of Okta in a report on Wednesday. Citigroup lifted their price objective on Okta from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on Okta from $105.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, November 29th. Finally, BMO Capital Markets lifted their price target on shares of Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Okta has a consensus rating of “Hold” and an average price target of $103.77.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $84.79 on Friday. The firm’s 50 day moving average is $75.77 and its two-hundred day moving average is $84.04. The firm has a market capitalization of $14.40 billion, a P/E ratio of -242.26, a PEG ratio of 22.07 and a beta of 1.00. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $114.50.

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.