Allspring Global Investments Holdings LLC Raises Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Allspring Global Investments Holdings LLC increased its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 138.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 554,633 shares of the company’s stock after acquiring an additional 322,201 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Okta were worth $43,721,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in shares of Okta during the third quarter worth $25,000. Blue Trust Inc. lifted its holdings in Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after buying an additional 191 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in Okta in the 3rd quarter valued at about $32,000. Wingate Wealth Advisors Inc. bought a new position in Okta in the 4th quarter worth about $44,000. Finally, Modus Advisors LLC bought a new stake in shares of Okta during the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Price Performance

NASDAQ:OKTA opened at $96.29 on Friday. The firm’s fifty day moving average is $87.42 and its two-hundred day moving average is $82.33. The firm has a market cap of $16.50 billion, a price-to-earnings ratio of -275.11, a PEG ratio of 6.58 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta, Inc. has a one year low of $70.56 and a one year high of $114.50.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. BMO Capital Markets increased their price objective on Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Susquehanna increased their price target on Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Sanford C. Bernstein decreased their price objective on Okta from $129.00 to $124.00 and set an “outperform” rating for the company in a report on Tuesday, December 17th. Canaccord Genuity Group increased their target price on shares of Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, Guggenheim restated a “buy” rating and issued a $130.00 price target on shares of Okta in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Okta presently has an average rating of “Hold” and a consensus target price of $105.45.

Insider Transactions at Okta

In other news, insider Larissa Schwartz sold 2,740 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total transaction of $267,396.60. Following the sale, the insider now directly owns 22,125 shares in the company, valued at $2,159,178.75. This trade represents a 11.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.68, for a total value of $10,603,449.68. Following the completion of the transaction, the director now directly owns 1,622 shares of the company’s stock, valued at $130,862.96. The trade was a 98.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 980,908 shares of company stock worth $85,025,665 over the last quarter. 7.00% of the stock is currently owned by insiders.

Okta 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.