7,500 Shares in Okta, Inc. (NASDAQ:OKTA) Purchased by Shay Capital LLC

Shay Capital LLC acquired a new stake in Okta, Inc. (NASDAQ:OKTA) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 7,500 shares of the company’s stock, valued at approximately $591,000.

Several other hedge funds and other institutional investors have also made changes to their positions in OKTA. Bank of Jackson Hole Trust acquired a new stake in shares of Okta in the 4th quarter valued at approximately $25,000. TD Private Client Wealth LLC grew its holdings in Okta by 3,507.7% during the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock valued at $37,000 after buying an additional 456 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in Okta during the 4th quarter worth about $43,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Okta during the 4th quarter worth about $44,000. Finally, Smartleaf Asset Management LLC boosted its position in Okta by 40.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 732 shares of the company’s stock worth $58,000 after acquiring an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Okta from $115.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Canaccord Genuity Group raised their target price on shares of Okta from $94.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. Citigroup increased their price objective on shares of Okta from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. KeyCorp lifted their target price on Okta from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Finally, Truist Financial lifted their price target on shares of Okta from $92.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $117.74.

Insider Activity at Okta

In other Okta news, insider Larissa Schwartz sold 11,552 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value of $1,317,967.68. Following the transaction, the insider now owns 22,125 shares of the company’s stock, valued at approximately $2,524,241.25. This represents a 34.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jonathan James Addison sold 7,005 shares of the firm’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $101.19, for a total value of $708,835.95. Following the sale, the executive now directly owns 19,067 shares of the company’s stock, valued at approximately $1,929,389.73. This represents a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 154,452 shares of company stock worth $16,347,360 in the last 90 days. Corporate insiders own 7.00% of the company’s stock.

Okta Trading Up 0.9%

Shares of OKTA stock opened at $124.39 on Friday. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $125.48. The stock has a fifty day moving average of $107.74 and a two-hundred day moving average of $93.48. 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 capitalization of $21.59 billion, a PE ratio of -355.40, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96.

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.