Perpetual Ltd Acquires Shares of 12,735 Okta, Inc. (NASDAQ:OKTA)

Perpetual Ltd bought a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,735 shares of the company’s stock, valued at approximately $1,004,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Paloma Partners Management Co acquired a new position in Okta during the 3rd quarter valued at about $969,000. SG Americas Securities LLC boosted its position in shares of Okta by 122.3% during the third quarter. SG Americas Securities LLC now owns 17,021 shares of the company’s stock valued at $1,265,000 after buying an additional 9,364 shares during the last quarter. Truist Financial Corp grew its holdings in Okta by 62.5% during the second quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock worth $48,870,000 after buying an additional 200,770 shares in the last quarter. Stifel Financial Corp raised its position in Okta by 56.1% in the 3rd quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock valued at $2,770,000 after buying an additional 13,387 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in Okta by 1,150.2% during the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after acquiring an additional 382,190 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Down 0.9 %

OKTA opened at $88.62 on Thursday. The firm has a market capitalization of $15.19 billion, a P/E ratio of -253.20, a price-to-earnings-growth ratio of 8.82 and a beta of 1.00. Okta, Inc. has a one year low of $70.56 and a one year high of $114.50. The company has a fifty day moving average price of $81.65 and a 200-day moving average price of $82.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

Wall Street Analyst Weigh In

OKTA has been the subject of several recent analyst reports. Barclays upped their target price on shares of Okta from $81.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company increased their price objective on shares of Okta from $80.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Citigroup boosted their target price on Okta from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Mizuho decreased their price target on Okta from $104.00 to $92.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Finally, Westpark Capital reissued a “buy” rating and issued a $140.00 price objective on shares of Okta in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Okta currently has a consensus rating of “Hold” and a consensus target price of $104.55.

Insider Activity at Okta

In other Okta news, insider Larissa Schwartz sold 2,791 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $71.50, for a total value of $199,556.50. Following the completion of the transaction, the insider now owns 22,125 shares of the company’s stock, valued at $1,581,937.50. The trade was a 11.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd Mckinnon sold 233,028 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $82.31, for a total transaction of $19,180,534.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 369,949 shares of company stock valued at $30,201,213. Company 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.