Alta Wealth Advisors LLC Grows Stock Position in Okta, Inc. (NASDAQ:OKTA)

Alta Wealth Advisors LLC boosted its holdings in Okta, Inc. (NASDAQ:OKTA) by 67.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,030 shares of the company’s stock after buying an additional 2,025 shares during the period. Alta Wealth Advisors LLC’s holdings in Okta were worth $396,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OKTA. Paloma Partners Management Co purchased a new stake in Okta in the third quarter valued at approximately $969,000. SG Americas Securities LLC grew its stake in shares of Okta by 122.3% during the 3rd quarter. SG Americas Securities LLC now owns 17,021 shares of the company’s stock valued at $1,265,000 after buying an additional 9,364 shares during the period. Stifel Financial Corp increased its holdings in shares of Okta by 56.1% during the 3rd quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock worth $2,770,000 after buying an additional 13,387 shares during the last quarter. Truist Financial Corp raised its position in shares of Okta by 62.5% in the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock worth $48,870,000 after buying an additional 200,770 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in Okta by 1,150.2% in the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after acquiring an additional 382,190 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Trading Down 0.3 %

NASDAQ:OKTA opened at $93.76 on Friday. 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 $114.50. The stock has a fifty day simple moving average of $83.72 and a 200 day simple moving average of $82.23.

Insider Activity

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 stock was sold at an average price of $87.09, for a total transaction of $33,965,100.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Larissa Schwartz sold 2,791 shares of Okta stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $71.50, for a total transaction of $199,556.50. Following the completion of the transaction, the insider now directly owns 22,125 shares in the company, valued at approximately $1,581,937.50. This represents a 11.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 910,959 shares of company stock worth $78,146,525. 7.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OKTA. Sanford C. Bernstein decreased their target price on Okta from $129.00 to $124.00 and set an “outperform” rating for the company in a report on Tuesday, December 17th. Stifel Nicolaus raised their target price on shares of Okta from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Citigroup upped their price target on shares of Okta from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Truist Financial reissued a “hold” rating and issued a $92.00 price objective (up from $80.00) on shares of Okta in a research report on Wednesday, December 4th. Finally, KeyCorp raised Okta from a “sector weight” rating to an “overweight” rating and set a $115.00 target price for the company in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Okta currently has an average rating of “Hold” and an average price target of $104.55.

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.