Smartleaf Asset Management LLC Purchases 210 Shares of Okta, Inc. (NASDAQ:OKTA)

Smartleaf Asset Management LLC boosted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 40.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 732 shares of the company’s stock after purchasing an additional 210 shares during the period. Smartleaf Asset Management LLC’s holdings in Okta were worth $58,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Itau Unibanco Holding S.A. bought a new stake in shares of Okta in the 3rd quarter worth approximately $25,000. Bank of Jackson Hole Trust bought a new stake in Okta in the fourth quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new position in Okta during the 3rd quarter valued at $32,000. Modus Advisors LLC purchased a new stake in shares of Okta in the 4th quarter worth about $44,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Okta in the 4th quarter worth about $44,000. Institutional investors own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on OKTA shares. Oppenheimer boosted their price target on shares of Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Stifel Nicolaus upped their target price on Okta from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. raised their target price on Okta from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. UBS Group set a $135.00 price target on Okta in a research note on Tuesday, March 4th. Finally, Canaccord Genuity Group raised their price objective on Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.39.

Okta Price Performance

Shares of OKTA opened at $105.19 on Tuesday. The firm has a fifty day simple moving average of $92.23 and a two-hundred day simple moving average of $82.85. The firm has a market cap of $18.02 billion, a PE ratio of -300.54, a P/E/G ratio of 6.42 and a beta of 1.09. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $116.96.

Insider Activity at Okta

In other Okta news, insider Larissa Schwartz sold 2,740 shares of the 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 owns 22,125 shares of the company’s stock, valued at $2,159,178.75. This represents a 11.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jacques Frederic Kerrest sold 390,000 shares of Okta stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $87.09, for a total value of $33,965,100.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 979,482 shares of company stock worth $88,072,216. 7.00% of the stock is owned by insiders.

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.