Proficio Capital Partners LLC Makes New $4.92 Million Investment in Okta, Inc. (NASDAQ:OKTA)

Proficio Capital Partners LLC bought a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 62,477 shares of the company’s stock, valued at approximately $4,923,000.

A number of other large investors have also modified their holdings of the business. Atria Investments Inc purchased a new stake in shares of Okta during the fourth quarter worth $352,000. SWS Partners grew its holdings in shares of Okta by 38.3% during the fourth quarter. SWS Partners now owns 44,916 shares of the company’s stock worth $3,539,000 after buying an additional 12,430 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Okta by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company’s stock worth $87,903,000 after buying an additional 46,064 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of Okta by 14.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,834 shares of the company’s stock worth $145,000 after buying an additional 232 shares in the last quarter. Finally, Mission Wealth Management LP grew its holdings in shares of Okta by 9.4% during the fourth quarter. Mission Wealth Management LP now owns 4,383 shares of the company’s stock worth $345,000 after buying an additional 375 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analysts Set New Price Targets

OKTA has been the subject of a number of research reports. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price objective on shares of Okta from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, February 28th. UBS Group set a $135.00 price objective on shares of Okta in a report on Tuesday, March 4th. Sanford C. Bernstein dropped their price objective on shares of Okta from $129.00 to $124.00 and set an “outperform” rating for the company in a report on Tuesday, December 17th. Finally, Morgan Stanley raised shares of Okta from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $92.00 to $97.00 in a report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, Okta currently has an average rating of “Moderate Buy” and an average target price of $114.39.

Insider Activity at Okta

In related news, CEO Todd Mckinnon sold 233,028 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Brett Tighe sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total transaction of $445,000.00. Following the completion of the transaction, the chief financial officer now owns 112,533 shares in the company, valued at $10,015,437. This represents a 4.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 979,482 shares of company stock valued at $88,072,216 over the last 90 days. 7.00% of the stock is owned by corporate insiders.

Okta Stock Up 5.6 %

Shares of NASDAQ:OKTA opened at $112.55 on Monday. The firm’s 50 day moving average price is $94.58 and its 200 day moving average price is $83.17. The stock has a market cap of $19.29 billion, a price-to-earnings ratio of -321.57, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $116.96. 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 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.