Okta, Inc. (NASDAQ:OKTA) is Oak Thistle LLC’s 3rd Largest Position

Oak Thistle LLC increased its holdings in Okta, Inc. (NASDAQ:OKTA) by 395.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,485 shares of the company’s stock after purchasing an additional 31,514 shares during the quarter. Okta accounts for 0.9% of Oak Thistle LLC’s investment portfolio, making the stock its 3rd biggest position. Oak Thistle LLC’s holdings in Okta were worth $3,111,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its position in Okta by 0.7% in the second quarter. Victory Capital Management Inc. now owns 46,964 shares of the company’s stock valued at $4,396,000 after purchasing an additional 349 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Okta in the second quarter worth $150,000. DekaBank Deutsche Girozentrale raised its holdings in Okta by 1.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 26,221 shares of the company’s stock valued at $2,417,000 after buying an additional 256 shares during the last quarter. Federated Hermes Inc. boosted its position in Okta by 1,708.3% during the 2nd quarter. Federated Hermes Inc. now owns 94,049 shares of the company’s stock valued at $8,804,000 after buying an additional 88,848 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Okta by 52.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 325,302 shares of the company’s stock valued at $30,452,000 after buying an additional 111,415 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Activity

In other news, insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Mckinnon sold 224,533 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $74.62, for a total value of $16,754,652.46. The disclosure for this sale can be found here. Insiders have sold a total of 594,482 shares of company stock worth $46,955,865 over the last 90 days. 7.00% of the stock is currently owned by insiders.

Okta Stock Down 0.5 %

NASDAQ:OKTA opened at $83.07 on Wednesday. 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 $14.23 billion, a P/E ratio of -237.34, a P/E/G ratio of 8.61 and a beta of 1.00. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $114.50. The firm has a 50-day simple moving average of $80.34 and a two-hundred day simple moving average of $82.57.

Analyst Ratings Changes

OKTA has been the subject of several recent analyst reports. Jefferies Financial Group lowered their price objective on shares of Okta from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Mizuho reduced their price target on Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Piper Sandler increased their price objective on Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Canaccord Genuity Group boosted their target price on Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Finally, BTIG Research raised their price target on Okta from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $104.45.

About Okta

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.