Diversified Trust Co Boosts Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Diversified Trust Co increased its stake in Okta, Inc. (NASDAQ:OKTA) by 11.6% during the 4th quarter, Holdings Channel reports. The fund owned 26,492 shares of the company’s stock after purchasing an additional 2,756 shares during the quarter. Diversified Trust Co’s holdings in Okta were worth $2,088,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Paloma Partners Management Co acquired a new stake in Okta in the 3rd quarter valued at about $969,000. SG Americas Securities LLC increased its stake 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 worth $1,265,000 after buying an additional 9,364 shares during the period. Truist Financial Corp raised its holdings in Okta by 62.5% in the second quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after acquiring an additional 200,770 shares in the last quarter. Stifel Financial Corp lifted its stake in Okta by 56.1% in the third quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock worth $2,770,000 after acquiring an additional 13,387 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Okta by 105.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock worth $26,627,000 after acquiring an additional 184,107 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Okta

In other news, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the sale, the insider now directly owns 24,462 shares in the company, valued at approximately $1,969,191. This trade represents a 9.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Jonathan James Addison sold 9,850 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $77.63, for a total value of $764,655.50. Following the completion of the sale, the executive now owns 14,601 shares in the company, valued at approximately $1,133,475.63. This represents a 40.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 607,129 shares of company stock worth $47,937,652 over the last 90 days. Company insiders own 7.00% of the company’s stock.

Okta Price Performance

Okta stock opened at $84.66 on Wednesday. The company has a market cap of $14.51 billion, a P/E ratio of -241.89, a price-to-earnings-growth ratio of 8.61 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 business has a fifty day moving average of $79.38 and a two-hundred day moving average of $82.71. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OKTA. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. Piper Sandler lifted their price target on Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Stifel Nicolaus increased their price objective on Okta from $108.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Jefferies Financial Group decreased their target price on Okta from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Finally, Canaccord Genuity Group increased their price target on shares of Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus 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.