True Link Financial Advisors LLC Makes New Investment in Okta, Inc. (NASDAQ:OKTA)

True Link Financial Advisors LLC purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,640 shares of the company’s stock, valued at approximately $523,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OKTA. Marshall Wace LLP raised its stake in shares of Okta by 117.4% in the second quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock valued at $212,841,000 after acquiring an additional 1,227,890 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Okta in the third quarter valued at approximately $49,373,000. Nordea Investment Management AB raised its stake in shares of Okta by 1,150.2% in the fourth 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 during the last quarter. Eminence Capital LP raised its stake in shares of Okta by 18.1% in the second quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock valued at $186,225,000 after acquiring an additional 305,381 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Okta by 232.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock valued at $29,479,000 after acquiring an additional 277,084 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Okta Stock Up 1.9 %

OKTA opened at $87.29 on Monday. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $114.50. The firm’s fifty day simple moving average is $81.05 and its 200 day simple moving average is $82.32. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Insider Activity at Okta

In other Okta news, insider Larissa Schwartz sold 2,791 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $71.50, for a total transaction of $199,556.50. Following the sale, the insider now directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Todd Mckinnon sold 233,028 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was 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. In the last ninety days, insiders have sold 369,949 shares of company stock valued at $30,201,213. 7.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on OKTA shares. Truist Financial reiterated a “hold” rating and issued a $92.00 target price (up previously from $80.00) on shares of Okta in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft cut shares of Okta from a “buy” rating to a “hold” rating and cut their target price for the company from $115.00 to $85.00 in a research note on Tuesday, November 12th. The Goldman Sachs Group boosted their price objective on shares of Okta from $97.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Westpark Capital restated a “buy” rating and issued a $140.00 price objective on shares of Okta in a research report on Wednesday, December 4th. Finally, BTIG Research boosted their price objective on shares of Okta from $98.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $104.61.

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.