Modus Advisors LLC Invests $44,000 in Okta, Inc. (NASDAQ:OKTA)

Modus Advisors LLC bought a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 563 shares of the company’s stock, valued at approximately $44,000.

Several other hedge funds have also modified their holdings of OKTA. Marshall Wace LLP grew its position in Okta by 117.4% during the 2nd quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock worth $212,841,000 after purchasing an additional 1,227,890 shares in the last quarter. Eminence Capital LP lifted its stake in 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. Primecap Management Co. CA grew its position in Okta by 0.8% in the second quarter. Primecap Management Co. CA now owns 1,356,216 shares of the company’s stock worth $126,955,000 after acquiring an additional 10,800 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Okta by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock worth $79,503,000 after purchasing an additional 17,950 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Okta by 20.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,029,753 shares of the company’s stock valued at $96,388,000 after purchasing an additional 178,011 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Okta

In related news, CEO Todd Mckinnon sold 233,028 shares of Okta stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $80.50, for a total transaction of $217,672.00. Following the sale, the insider now directly owns 24,462 shares in the company, valued at approximately $1,969,191. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 607,129 shares of company stock worth $47,937,652 over the last ninety days. Corporate insiders own 7.00% of the company’s stock.

Okta Stock Up 2.4 %

Shares of NASDAQ OKTA opened at $80.76 on Friday. The business has a fifty day moving average of $78.94 and a two-hundred day moving average of $82.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $114.50. The stock has a market cap of $13.84 billion, a PE ratio of -230.74, a PEG ratio of 8.61 and a beta of 1.00.

Analyst Ratings Changes

Several equities analysts have commented on the stock. DA Davidson increased their target price on shares of Okta from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and set a $101.00 price objective on shares of Okta in a report on Wednesday, December 4th. Mizuho decreased their target price on Okta from $104.00 to $92.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Westpark Capital reiterated a “buy” rating and set a $140.00 price target on shares of Okta in a report on Wednesday, December 4th. Finally, Stifel Nicolaus boosted their price objective on shares of Okta from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Okta presently has an average rating of “Hold” and a consensus price target of $104.45.

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.