Avior Wealth Management LLC raised its holdings in Okta, Inc. (NASDAQ:OKTA – Free Report) by 4,844.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,807 shares of the company’s stock after buying an additional 3,730 shares during the quarter. Avior Wealth Management LLC’s holdings in Okta were worth $300,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in OKTA. Paloma Partners Management Co purchased a new stake in Okta in the third quarter worth about $969,000. SG Americas Securities LLC boosted its stake in 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 acquiring an additional 9,364 shares in the last quarter. Truist Financial Corp boosted its position in shares of Okta by 62.5% in the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock worth $48,870,000 after purchasing an additional 200,770 shares in the last quarter. Stifel Financial Corp grew its stake in shares of 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, Nordea Investment Management AB increased 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 purchasing an additional 382,190 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.
Okta Stock Up 2.3 %
Shares of OKTA opened at $90.90 on Tuesday. The firm has a fifty day moving average price of $82.54 and a 200-day moving average price of $82.07. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $15.58 billion, a P/E ratio of -259.71, a P/E/G ratio of 8.95 and a beta of 1.00. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50.
Insider Activity at Okta
Analyst Ratings Changes
A number of analysts have commented on the company. BMO Capital Markets lifted their target price on Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Susquehanna increased their price target on shares of Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upgraded Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price objective for the company in a research note on Monday, December 16th. The Goldman Sachs Group lifted their price objective on Okta from $97.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, JMP Securities reissued a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. One research 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, the company has an average rating of “Hold” and a consensus price target of $104.55.
Read Our Latest Analysis on OKTA
About Okta
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.
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