CIBC Private Wealth Group LLC Has $5.33 Million Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

CIBC Private Wealth Group LLC increased its position in shares of Okta, Inc. (NASDAQ:OKTA) by 131.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,409 shares of the company’s stock after purchasing an additional 35,409 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Okta were worth $5,333,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in OKTA. RWA Wealth Partners LLC increased its holdings in shares of Okta by 33.0% during the fourth quarter. RWA Wealth Partners LLC now owns 25,928 shares of the company’s stock worth $2,043,000 after buying an additional 6,437 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Okta by 54.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,241,220 shares of the company’s stock worth $97,808,000 after acquiring an additional 440,171 shares during the last quarter. Allstate Corp bought a new position in Okta in the 4th quarter valued at $377,000. Brown Brothers Harriman & Co. bought a new position in Okta in the 4th quarter valued at $43,000. Finally, DnB Asset Management AS boosted its stake in Okta by 4.9% in the fourth quarter. DnB Asset Management AS now owns 28,423 shares of the company’s stock worth $2,240,000 after purchasing an additional 1,315 shares in the last quarter. 86.64% of the stock is owned by institutional investors.

Insider Buying and Selling at Okta

In related news, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $89.58, for a total value of $242,224.32. Following the sale, the insider now owns 23,311 shares of the company’s stock, valued at approximately $2,088,199.38. This trade represents a 10.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brett Tighe sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total value of $445,000.00. Following the transaction, the chief financial officer now directly owns 112,533 shares of the company’s stock, valued at approximately $10,015,437. This trade represents a 4.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 761,197 shares of company stock valued at $70,662,533 in the last 90 days. 7.00% of the stock is currently owned by company insiders.

Okta Trading Down 0.5 %

OKTA opened at $104.69 on Wednesday. The stock has a market capitalization of $18.17 billion, a P/E ratio of -299.11, 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 12 month low of $70.56 and a 12 month high of $118.07. The firm’s fifty day simple moving average is $101.00 and its 200 day simple moving average is $86.31.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Scotiabank raised their target price on Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 4th. Stifel Nicolaus boosted their target price on shares of Okta from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Royal Bank of Canada increased their price target on shares of Okta from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Stephens initiated coverage on Okta in a report on Tuesday. They set an “equal weight” rating and a $127.00 price objective on the stock. Finally, Jefferies Financial Group increased their price objective on Okta from $90.00 to $110.00 and gave the company a “hold” rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $116.09.

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.