WINTON GROUP Ltd Acquires New Stake in Okta, Inc. (NASDAQ:OKTA)

WINTON GROUP Ltd bought a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 28,478 shares of the company’s stock, valued at approximately $2,244,000.

A number of other hedge funds have also modified their holdings of OKTA. Itau Unibanco Holding S.A. purchased a new stake in Okta during the 3rd quarter valued at about $25,000. Bank of Jackson Hole Trust purchased a new stake in shares of Okta in the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Okta in the third quarter valued at approximately $32,000. TD Private Client Wealth LLC increased its holdings in shares of Okta by 3,507.7% in the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock valued at $37,000 after purchasing an additional 456 shares during the last quarter. Finally, Modus Advisors LLC purchased a new position in Okta during the fourth quarter worth approximately $44,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Stock Down 2.5 %

Okta stock opened at $111.20 on Friday. The stock’s fifty day moving average is $99.92 and its two-hundred day moving average is $85.43. The stock has a market cap of $19.30 billion, a PE ratio of -317.71, a P/E/G ratio of 6.42 and a beta of 1.09. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $118.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OKTA. Morgan Stanley set a $125.00 target price on Okta in a research note on Tuesday, March 18th. BTIG Research restated a “buy” rating on shares of Okta in a research report on Tuesday, March 4th. Oppenheimer boosted their target price on shares of Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Guggenheim restated a “buy” rating and set a $130.00 price target on shares of Okta in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upped their price objective on Okta from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, February 28th. One equities research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.29.

Insider Transactions at Okta

In related news, Director Jacques Frederic Kerrest sold 3,306 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total value of $293,738.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $80.50, for a total value of $217,672.00. Following the sale, the insider now directly owns 24,462 shares of the company’s stock, 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. In the last 90 days, insiders have sold 763,901 shares of company stock valued at $70,880,205. Corporate insiders own 7.00% of the company’s stock.

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.