Charles Schwab Investment Management Inc. Has $87.90 Million Holdings in Okta, Inc. (NASDAQ:OKTA)

Charles Schwab Investment Management Inc. lifted its holdings in Okta, Inc. (NASDAQ:OKTA) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,115,516 shares of the company’s stock after acquiring an additional 46,064 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.65% of Okta worth $87,903,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in Okta during the 3rd quarter worth $25,000. Bank of Jackson Hole Trust acquired a new position in Okta during the 4th quarter worth $25,000. Legacy Investment Solutions LLC acquired a new position in Okta during the 3rd quarter worth $32,000. Modus Advisors LLC acquired a new position in Okta during the 4th quarter worth $44,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Okta during the 4th quarter worth $44,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the transaction, the insider now directly owns 24,462 shares in the company, valued at $1,969,191. This represents a 9.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jacques Frederic Kerrest sold 3,306 shares of the stock in a transaction dated Tuesday, January 21st. The stock was 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 ninety days, insiders sold 979,482 shares of company stock valued at $88,072,216. Company insiders own 7.00% of the company’s stock.

Okta Price Performance

Shares of NASDAQ OKTA opened at $105.19 on Tuesday. The firm has a market cap of $18.02 billion, a PE ratio of -300.54, a PEG 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. The company has a fifty day moving average price of $92.23 and a 200 day moving average price of $82.85.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on OKTA shares. Jefferies Financial Group upped their price objective on Okta from $90.00 to $110.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. The Goldman Sachs Group upped their price objective on Okta from $107.00 to $123.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Wells Fargo & Company upped their price objective on Okta from $95.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Barclays upped their price objective on Okta from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Finally, Scotiabank upped their target price on shares of Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $114.39.

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.