Allworth Financial LP Has $127,000 Stock Position in Okta, Inc. (NASDAQ:OKTA)

Allworth Financial LP lifted its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 25.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,616 shares of the company’s stock after purchasing an additional 326 shares during the quarter. Allworth Financial LP’s holdings in Okta were worth $127,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Okta by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock valued at $79,503,000 after purchasing an additional 17,950 shares in the last quarter. Penserra Capital Management LLC boosted its stake in shares of Okta by 9.8% during the third quarter. Penserra Capital Management LLC now owns 767,962 shares of the company’s stock valued at $57,089,000 after purchasing an additional 68,757 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Okta during the third quarter valued at about $49,373,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Okta by 138.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock valued at $43,721,000 after purchasing an additional 322,201 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in shares of Okta by 17.6% during the third quarter. Glenmede Trust Co. NA now owns 510,658 shares of the company’s stock valued at $37,962,000 after purchasing an additional 76,588 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Insider Transactions at Okta

In other Okta news, insider Larissa Schwartz sold 2,740 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $97.59, for a total transaction of $267,396.60. Following the completion of the transaction, the insider now directly owns 22,125 shares of the company’s stock, valued at $2,159,178.75. The trade was a 11.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jacques Frederic Kerrest sold 3,306 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total transaction of $293,738.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 980,908 shares of company stock valued at $85,025,665. Insiders own 7.00% of the company’s stock.

Okta Stock Performance

Okta stock opened at $92.75 on Monday. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50. The company has a market capitalization of $15.89 billion, a price-to-earnings ratio of -265.00, a price-to-earnings-growth ratio of 6.42 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The firm’s fifty day moving average price is $88.64 and its 200 day moving average price is $82.51.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OKTA. Guggenheim reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Okta in a research note on Wednesday, December 4th. Susquehanna lifted their price objective on Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. KeyCorp lifted their price objective on Okta from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Piper Sandler lifted their price objective on Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, Scotiabank cut their price objective on Okta from $96.00 to $94.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $106.13.

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.