Sanctuary Advisors LLC Purchases 1,201 Shares of Okta, Inc. (NASDAQ:OKTA)

Sanctuary Advisors LLC grew its position in shares of Okta, Inc. (NASDAQ:OKTA) by 10.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,445 shares of the company’s stock after purchasing an additional 1,201 shares during the period. Sanctuary Advisors LLC’s holdings in Okta were worth $981,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in OKTA. Stephens Inc. AR boosted its stake in Okta by 5.0% during the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock valued at $260,000 after buying an additional 157 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Okta by 2.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock worth $605,000 after acquiring an additional 180 shares during the last quarter. Creative Financial Designs Inc. ADV increased its stake in Okta by 12.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock worth $127,000 after acquiring an additional 188 shares during the last quarter. Blue Trust Inc. increased its stake in Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after acquiring an additional 191 shares during the last quarter. Finally, CHICAGO TRUST Co NA increased its stake in Okta by 6.5% in the 4th quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock worth $246,000 after acquiring an additional 191 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

Okta Price Performance

OKTA opened at $89.58 on Thursday. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50. 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 business’s fifty day simple moving average is $89.01 and its 200-day simple moving average is $82.57. The company has a market capitalization of $15.35 billion, a price-to-earnings ratio of -255.94, a PEG ratio of 6.42 and a beta of 1.03.

Analyst Ratings Changes

A number of analysts have issued reports on OKTA shares. Deutsche Bank Aktiengesellschaft downgraded Okta from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $115.00 to $85.00 in a research note on Tuesday, November 12th. The Goldman Sachs Group lifted their price objective on Okta from $97.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. 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. Morgan Stanley raised Okta from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $92.00 to $97.00 in a research note on Monday, December 2nd. Finally, Canaccord Genuity Group boosted their target price on Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $106.13.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 2,740 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total transaction of $267,396.60. Following the completion of the sale, the insider now directly owns 22,125 shares in the company, valued at $2,159,178.75. This represents a 11.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Todd Mckinnon sold 233,028 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 980,908 shares of company stock valued at $85,025,665. 7.00% of the stock is currently owned by corporate insiders.

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.