PharVision Advisers LLC Buys Shares of 3,794 Okta, Inc. (NASDAQ:OKTA)

PharVision Advisers LLC purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,794 shares of the company’s stock, valued at approximately $299,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of Jackson Hole Trust acquired a new position in Okta during the fourth quarter worth $25,000. TD Private Client Wealth LLC lifted its position in Okta by 3,507.7% during the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock worth $37,000 after buying an additional 456 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of Okta during the 4th quarter worth about $43,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Okta during the 4th quarter worth about $44,000. Finally, True Wealth Design LLC grew its holdings in shares of Okta by 237.4% in the 4th quarter. True Wealth Design LLC now owns 577 shares of the company’s stock valued at $45,000 after acquiring an additional 406 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Eric Robert Kelleher sold 5,895 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $113.75, for a total transaction of $670,556.25. Following the completion of the sale, the insider now directly owns 9,828 shares in the company, valued at approximately $1,117,935. This represents a 37.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 completion of the transaction, the executive now owns 19,067 shares in the company, valued at $1,929,389.73. The trade was a 26.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 154,452 shares of company stock valued at $16,347,360 over the last 90 days. 5.68% of the stock is owned by corporate insiders.

Okta Stock Down 2.8%

Shares of OKTA opened at $122.06 on Thursday. 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 12 month low of $70.56 and a 12 month high of $127.57. The firm’s 50 day moving average is $109.07 and its 200-day moving average is $94.93. The stock has a market capitalization of $21.19 billion, a PE ratio of -348.74, a P/E/G ratio of 6.42 and a beta of 0.96.

Wall Street Analyst Weigh In

Several analysts recently issued reports on OKTA shares. JPMorgan Chase & Co. upped their target price on Okta from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Royal Bank of Canada upped their price objective on Okta from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. Loop Capital initiated coverage on shares of Okta in a research note on Monday, May 5th. They issued a “buy” rating and a $140.00 target price for the company. DA Davidson boosted their target price on shares of Okta from $125.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Finally, Mizuho upped their price target on shares of Okta from $127.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Okta currently has an average rating of “Moderate Buy” and a consensus price target of $118.03.

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.