ORG Partners LLC Raises Position in Okta, Inc. (NASDAQ:OKTA)

ORG Partners LLC lifted its stake in Okta, Inc. (NASDAQ:OKTA) by 74.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,900 shares of the company’s stock after buying an additional 4,221 shares during the period. ORG Partners LLC’s holdings in Okta were worth $780,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. TD Asset Management Inc increased its position in Okta by 5.3% during the second quarter. TD Asset Management Inc now owns 37,625 shares of the company’s stock valued at $3,522,000 after acquiring an additional 1,903 shares during the last quarter. National Bank of Canada FI grew its holdings in Okta by 11.0% during the 2nd quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock valued at $124,000 after purchasing an additional 130 shares during the last quarter. Victory Capital Management Inc. raised its position in Okta by 0.7% in the 2nd quarter. Victory Capital Management Inc. now owns 46,964 shares of the company’s stock worth $4,396,000 after purchasing an additional 349 shares during the period. Acadian Asset Management LLC lifted its stake in Okta by 335.9% in the second quarter. Acadian Asset Management LLC now owns 36,946 shares of the company’s stock worth $3,455,000 after purchasing an additional 28,470 shares during the last quarter. Finally, Caprock Group LLC boosted its position in shares of Okta by 4.7% during the second quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock valued at $267,000 after buying an additional 129 shares during the period. Institutional investors own 86.64% of the company’s stock.

Okta Trading Down 1.3 %

Shares of NASDAQ:OKTA opened at $84.37 on Friday. The business’s 50-day moving average is $79.91 and its 200 day moving average is $82.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $114.50. The firm has a market capitalization of $14.46 billion, a P/E ratio of -241.06, a P/E/G ratio of 8.61 and a beta of 1.00.

Insider Activity

In other Okta news, insider Larissa Schwartz sold 2,797 shares of Okta stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $217,131.11. Following the completion of the sale, the insider now owns 24,916 shares of the company’s stock, valued at approximately $1,934,229.08. The trade was a 10.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the company’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 value of $10,603,449.68. Following the completion of the sale, the director now owns 1,622 shares in the company, valued at approximately $130,862.96. This represents a 98.78 % 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 90 days. 7.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Truist Financial reissued a “hold” rating and set a $92.00 price target (up from $80.00) on shares of Okta in a research note on Wednesday, December 4th. Susquehanna lifted their target price on Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Citigroup upped their price target on shares of Okta from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. DA Davidson lifted their price objective on shares of Okta from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Okta from a “buy” rating to a “hold” rating and dropped their target price for the stock from $115.00 to $85.00 in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.