Atria Investments Inc Purchases New Shares in Okta, Inc. (NASDAQ:OKTA)

Atria Investments Inc acquired a new position in Okta, Inc. (NASDAQ:OKTA) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,464 shares of the company’s stock, valued at approximately $352,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 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 purchased a new stake in Okta in the fourth quarter worth $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Okta in the third quarter valued at $32,000. Modus Advisors LLC purchased a new position in shares of Okta during the 4th quarter valued at $44,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Okta during the 4th quarter worth $44,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on OKTA shares. Westpark Capital reiterated a “buy” rating and set a $140.00 target price on shares of Okta in a research report on Friday, February 28th. Stifel Nicolaus lifted their price objective on shares of Okta from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Piper Sandler increased their target price on Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group lifted their price target on Okta from $94.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company boosted their price objective on Okta from $95.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $114.39.

Okta Trading Up 5.6 %

OKTA opened at $112.55 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock’s 50 day moving average price is $94.58 and its 200-day moving average price is $83.17. Okta, Inc. has a one year low of $70.56 and a one year high of $116.96. The stock has a market cap of $19.29 billion, a price-to-earnings ratio of -321.57, a P/E/G ratio of 6.42 and a beta of 1.09.

Insiders Place Their Bets

In other news, CEO Todd Mckinnon sold 233,028 shares of Okta 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $80.50, for a total value of $217,672.00. Following the completion of the transaction, the insider now directly owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 979,482 shares of company stock worth $88,072,216 in the last ninety days. 7.00% of the stock is owned by company insiders.

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.