Assenagon Asset Management S.A. Buys 30,957 Shares of Okta, Inc. (NASDAQ:OKTA)

Assenagon Asset Management S.A. lifted its stake in Okta, Inc. (NASDAQ:OKTA) by 106.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,951 shares of the company’s stock after purchasing an additional 30,957 shares during the period. Assenagon Asset Management S.A.’s holdings in Okta were worth $4,724,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Marshall Wace LLP boosted its position in shares of Okta by 117.4% in 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 during the last quarter. Eminence Capital LP lifted its holdings in Okta by 18.1% during the second quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock worth $186,225,000 after acquiring an additional 305,381 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Okta by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock worth $79,503,000 after acquiring an additional 17,950 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Okta by 20.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,029,753 shares of the company’s stock worth $96,388,000 after acquiring an additional 178,011 shares in the last quarter. Finally, Penserra Capital Management LLC lifted its holdings in Okta by 9.8% during the third quarter. Penserra Capital Management LLC now owns 767,962 shares of the company’s stock worth $57,089,000 after acquiring an additional 68,757 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Larissa Schwartz sold 2,791 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $71.50, for a total transaction of $199,556.50. Following the completion of the sale, the insider now owns 22,125 shares in the company, valued at $1,581,937.50. The trade was a 11.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $80.68, for a total value of $10,603,449.68. Following the sale, the director now owns 1,622 shares of the company’s stock, 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 369,949 shares of company stock valued at $30,201,213 over the last 90 days. 7.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OKTA. 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. Stifel Nicolaus lifted their target price on Okta from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. KeyCorp upgraded Okta from a “sector weight” rating to an “overweight” rating and set a $115.00 target price on the stock in a report on Thursday, December 19th. Robert W. Baird lifted their target price on Okta from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Finally, Mizuho reduced their target price on Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $104.61.

Okta Price Performance

Shares of NASDAQ OKTA opened at $87.29 on Tuesday. The business’s 50 day moving average price is $81.23 and its two-hundred day moving average price is $82.28. The company has a market cap of $14.96 billion, a PE ratio of -249.40, a price-to-earnings-growth ratio of 8.52 and a beta of 1.00. 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 twelve month low of $70.56 and a twelve month high of $114.50.

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.