68,214 Shares in Okta, Inc. (NASDAQ:OKTA) Acquired by iA Global Asset Management Inc.

iA Global Asset Management Inc. bought a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 68,214 shares of the company’s stock, valued at approximately $5,375,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Paloma Partners Management Co acquired a new stake in Okta in the third quarter valued at approximately $969,000. SBI Securities Co. Ltd. acquired a new stake in Okta in the fourth quarter valued at approximately $1,686,000. Stifel Financial Corp grew its position in Okta by 56.1% in the third quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock valued at $2,770,000 after acquiring an additional 13,387 shares in the last quarter. Nordea Investment Management AB grew its position in Okta by 1,150.2% in the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after acquiring an additional 382,190 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Okta by 105.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock valued at $26,627,000 after acquiring an additional 184,107 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on OKTA shares. KeyCorp increased their price objective on shares of Okta from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. increased their price objective on shares of Okta from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Canaccord Genuity Group increased their price objective on shares of Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. DA Davidson raised shares of Okta from a “neutral” rating to a “buy” rating and raised their price target for the stock from $90.00 to $125.00 in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada raised their price target on shares of Okta from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $115.29.

Insider Activity at Okta

In related news, Director Jacques Frederic Kerrest sold 390,000 shares of Okta stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total transaction of $33,965,100.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the sale, the insider now owns 24,462 shares in the company, valued at approximately $1,969,191. This represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 752,349 shares of company stock worth $69,562,237 over the last ninety days. 7.00% of the stock is currently owned by corporate insiders.

Okta Price Performance

Shares of NASDAQ OKTA opened at $112.80 on Friday. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $116.96. The firm’s 50-day simple moving average is $96.89 and its 200 day simple moving average is $84.07. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The stock has a market cap of $19.58 billion, a P/E ratio of -322.29, a P/E/G ratio of 6.42 and a beta of 1.09.

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.