15,488 Shares in Okta, Inc. (NASDAQ:OKTA) Purchased by Gotham Asset Management LLC

Gotham Asset Management LLC acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 15,488 shares of the company’s stock, valued at approximately $1,220,000.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Okta in the 4th quarter valued at about $234,992,000. Ameriprise Financial Inc. raised its holdings in shares of Okta by 2,135.7% in the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company’s stock valued at $150,845,000 after acquiring an additional 1,828,630 shares in the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of Okta by 2,309.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company’s stock valued at $139,693,000 after acquiring an additional 1,699,176 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Okta by 35.5% in the 4th quarter. Marshall Wace LLP now owns 3,583,937 shares of the company’s stock valued at $282,414,000 after acquiring an additional 938,509 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Okta by 874.6% in the 4th quarter. AQR Capital Management LLC now owns 849,642 shares of the company’s stock valued at $66,952,000 after acquiring an additional 762,460 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Price Performance

Shares of OKTA stock opened at $127.30 on Friday. The firm has a market cap of $22.10 billion, a P/E ratio of -363.71, a P/E/G ratio of 6.42 and a beta of 0.96. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $127.57. The business’s 50 day moving average price is $108.15 and its 200-day moving average price is $94.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Insider Transactions at Okta

In related news, Director Jacques Frederic Kerrest sold 130,000 shares of Okta stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total transaction of $13,650,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Eric Robert Kelleher sold 5,895 shares of Okta stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $113.75, for a total value of $670,556.25. Following the sale, the insider now owns 9,828 shares in the company, valued at $1,117,935. This represents a 37.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 154,452 shares of company stock worth $16,347,360. 5.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on OKTA shares. Robert W. Baird raised their price target on Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Roth Capital started coverage on Okta in a report on Wednesday, April 23rd. They issued a “buy” rating and a $119.00 price target on the stock. Scotiabank raised their price target on Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. increased their price objective on Okta from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, Canaccord Genuity Group increased their price objective on Okta from $94.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $117.74.

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.