980 Shares in Okta, Inc. (NASDAQ:OKTA) Acquired by Pilgrim Partners Asia Pte Ltd

Pilgrim Partners Asia Pte Ltd bought a new position in Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 980 shares of the company’s stock, valued at approximately $77,000.

Other institutional investors also recently bought and sold shares of the company. Bank of Jackson Hole Trust acquired a new stake in Okta in the 4th quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Okta during the third quarter worth about $32,000. TD Private Client Wealth LLC raised its position in shares of Okta by 3,507.7% in the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock valued at $37,000 after purchasing an additional 456 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in Okta in the fourth quarter valued at $43,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Okta during the fourth quarter worth about $44,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Stock Down 8.3 %

OKTA opened at $91.93 on Friday. The stock has a market cap of $15.96 billion, a price-to-earnings ratio of -262.66, a price-to-earnings-growth ratio of 6.42 and a beta of 1.06. 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’s fifty day moving average is $101.64 and its 200 day moving average is $86.67. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $118.07.

Analyst Ratings Changes

A number of research analysts recently commented on OKTA shares. Mizuho upgraded Okta from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $110.00 to $127.00 in a research note on Tuesday, March 4th. The Goldman Sachs Group raised their target price on Okta from $107.00 to $123.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Morgan Stanley set a $125.00 price target on shares of Okta in a report on Tuesday, March 18th. Robert W. Baird lifted their target price on Okta from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Finally, Oppenheimer lifted their price objective on shares of Okta from $125.00 to $135.00 and gave the stock an “outperform” 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, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.09.

Insiders Place Their Bets

In other Okta news, Director Jacques Frederic Kerrest sold 390,000 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total value of $33,965,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 11,552 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the transaction, the insider now directly owns 22,125 shares in the company, valued at $2,524,241.25. This trade represents a 34.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 761,197 shares of company stock valued at $70,662,533 in the last quarter. 7.00% of the stock is currently owned by 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.