Okta, Inc. (NASDAQ:OKTA) Holdings Lifted by Jones Financial Companies Lllp

Jones Financial Companies Lllp boosted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 114.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,847 shares of the company’s stock after buying an additional 985 shares during the quarter. Jones Financial Companies Lllp’s holdings in Okta were worth $146,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. 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 in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Okta by 2.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock valued at $605,000 after buying an additional 180 shares in the last quarter. CHICAGO TRUST Co NA boosted its stake in Okta by 6.5% during the fourth quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock valued at $246,000 after buying an additional 191 shares in the last quarter. Principal Securities Inc. boosted its stake in Okta by 13.8% during the fourth quarter. Principal Securities Inc. now owns 1,686 shares of the company’s stock valued at $133,000 after buying an additional 204 shares in the last quarter. Finally, Metis Global Partners LLC boosted its stake in Okta by 6.4% during the fourth quarter. Metis Global Partners LLC now owns 3,386 shares of the company’s stock valued at $267,000 after buying an additional 205 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OKTA. Susquehanna increased their price target on Okta from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Royal Bank of Canada increased their price target on Okta from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Morgan Stanley upgraded Okta from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $92.00 to $97.00 in a research report on Monday, December 2nd. Canaccord Genuity Group increased their price objective on Okta from $94.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. Finally, Piper Sandler increased 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. 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 data from MarketBeat, Okta has a consensus rating of “Moderate Buy” and a consensus price target of $114.39.

Okta Stock Performance

Shares of NASDAQ OKTA opened at $112.55 on Friday. 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 firm 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. The business’s 50-day simple moving average is $94.58 and its 200-day simple moving average is $83.35. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $116.96.

Insider Activity

In other Okta news, Director Jacques Frederic Kerrest sold 130,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total value of $13,650,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 979,482 shares of company stock valued at $88,072,216. Insiders own 7.00% of the company’s stock.

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.