Great Lakes Advisors LLC Acquires 184 Shares of Okta, Inc. (NASDAQ:OKTA)

Great Lakes Advisors LLC boosted its holdings in Okta, Inc. (NASDAQ:OKTA) by 2.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 7,070 shares of the company’s stock after buying an additional 184 shares during the quarter. Great Lakes Advisors LLC’s holdings in Okta were worth $557,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Metis Global Partners LLC raised its stake in Okta by 7.1% in the third quarter. Metis Global Partners LLC now owns 3,181 shares of the company’s stock valued at $236,000 after purchasing an additional 212 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Okta by 5.4% in the 3rd quarter. CIBC Asset Management Inc now owns 5,650 shares of the company’s stock worth $420,000 after buying an additional 288 shares during the last quarter. Empowered Funds LLC raised its position in shares of Okta by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 5,718 shares of the company’s stock valued at $425,000 after buying an additional 295 shares in the last quarter. Frazier Financial Advisors LLC bought a new stake in shares of Okta during the 3rd quarter worth $58,000. Finally, Swiss National Bank increased its stake in Okta by 0.8% in the third quarter. Swiss National Bank now owns 477,700 shares of the company’s stock valued at $35,512,000 after acquiring an additional 3,600 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analyst Ratings Changes

OKTA has been the subject of several research analyst reports. BTIG Research reaffirmed a “buy” rating on shares of Okta in a research note on Tuesday, March 4th. Morgan Stanley raised Okta from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $92.00 to $97.00 in a research note on Monday, December 2nd. Barclays lifted their price target on shares of Okta from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Jefferies Financial Group upped their price objective on shares of Okta from $90.00 to $110.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Okta from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Okta presently has an average rating of “Moderate Buy” and a consensus target price of $114.39.

Insider Buying and Selling at Okta

In other news, insider Larissa Schwartz sold 2,704 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $80.50, for a total value of $217,672.00. Following the transaction, the insider now owns 24,462 shares of the company’s stock, valued at $1,969,191. This trade represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd Mckinnon sold 233,028 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 979,482 shares of company stock worth $88,072,216. Insiders own 7.00% of the company’s stock.

Okta Stock Performance

Okta stock opened at $112.55 on Monday. The stock’s 50 day moving average is $94.58 and its 200 day moving average is $83.17. The company has a market capitalization of $19.29 billion, a P/E ratio of -321.57, a PEG ratio of 6.42 and a beta of 1.09. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $116.96. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

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.