Steward Partners Investment Advisory LLC Raises Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Steward Partners Investment Advisory LLC grew its position in shares of Okta, Inc. (NASDAQ:OKTA) by 14.5% in the fourth quarter, Holdings Channel reports. The fund owned 1,834 shares of the company’s stock after buying an additional 232 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Okta were worth $145,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of OKTA. Mission Wealth Management LP increased its stake in Okta by 9.4% during the fourth quarter. Mission Wealth Management LP now owns 4,383 shares of the company’s stock worth $345,000 after acquiring an additional 375 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Okta in the 4th quarter worth approximately $1,686,000. Jones Financial Companies Lllp increased its position in shares of Okta by 114.3% during the 4th quarter. Jones Financial Companies Lllp now owns 1,847 shares of the company’s stock valued at $146,000 after purchasing an additional 985 shares during the last quarter. Norden Group LLC purchased a new stake in Okta during the 4th quarter valued at $245,000. Finally, Smartleaf Asset Management LLC boosted its stake in Okta by 40.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 732 shares of the company’s stock worth $58,000 after buying an additional 210 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Okta

In other Okta news, CEO Todd Mckinnon sold 233,028 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $82.31, for a total transaction of $19,180,534.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total transaction of $33,965,100.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 979,482 shares of company stock worth $88,072,216. Company insiders own 7.00% of the company’s stock.

Okta Stock Up 5.6 %

OKTA stock opened at $112.55 on Monday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $116.96. The stock has a market capitalization of $19.29 billion, a PE ratio of -321.57, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. The firm has a 50 day moving average of $94.58 and a 200 day moving average of $83.17.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada increased their target price on shares of Okta from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Barclays increased their price objective on shares of Okta from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Piper Sandler upped their target price on Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Guggenheim reiterated a “buy” rating and issued a $130.00 price target on shares of Okta in a report on Wednesday, December 4th. Finally, Westpark Capital restated a “buy” rating and set a $140.00 price objective on shares of Okta in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.39.

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.