Okta, Inc. (NASDAQ:OKTA) Shares Purchased by Alliancebernstein L.P.

Alliancebernstein L.P. boosted its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 32.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 93,450 shares of the company’s stock after acquiring an additional 22,702 shares during the quarter. Alliancebernstein L.P.’s holdings in Okta were worth $7,364,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of Okta by 68.8% during the fourth quarter. Wellington Management Group LLP now owns 34,042 shares of the company’s stock worth $2,683,000 after purchasing an additional 13,869 shares during the period. Prevail Innovative Wealth Advisors LLC purchased a new position in Okta during the 4th quarter worth $3,624,000. CIBC Private Wealth Group LLC lifted its stake in shares of Okta by 131.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 62,409 shares of the company’s stock worth $5,333,000 after acquiring an additional 35,409 shares during the period. RWA Wealth Partners LLC boosted its holdings in shares of Okta by 33.0% in the fourth quarter. RWA Wealth Partners LLC now owns 25,928 shares of the company’s stock valued at $2,043,000 after acquiring an additional 6,437 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Okta by 54.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,241,220 shares of the company’s stock worth $97,808,000 after acquiring an additional 440,171 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Jacques Frederic Kerrest sold 3,306 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total transaction of $293,738.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Larissa Schwartz sold 11,552 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the sale, the insider now directly owns 22,125 shares in the company, valued at $2,524,241.25. This represents a 34.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 761,197 shares of company stock valued at $70,662,533 in the last quarter. 7.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Okta in a report on Tuesday, March 4th. Citigroup lifted their price target on Okta from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. BMO Capital Markets increased their price objective on Okta from $105.00 to $130.00 and gave the stock a “market perform” rating in a research report on Monday, March 10th. Stifel Nicolaus boosted their target price on shares of Okta from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Finally, KeyCorp increased their price target on shares of Okta from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Okta presently has an average rating of “Moderate Buy” and an average price target of $116.09.

Okta Stock Performance

Shares of OKTA opened at $101.82 on Friday. The company has a market capitalization of $17.68 billion, a price-to-earnings ratio of -290.91, a PEG ratio of 6.42 and a beta of 1.07. 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 1 year low of $70.56 and a 1 year high of $118.07. The company’s 50 day simple moving average is $102.15 and its 200 day simple moving average is $87.74.

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.