Symmetry Investments LP Makes New Investment in Okta, Inc. (NASDAQ:OKTA)

Symmetry Investments LP bought a new stake in shares of Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, HoldingsChannel.com reports. The firm bought 17,200 shares of the company’s stock, valued at approximately $1,355,000.

Other hedge funds have also made changes to their positions in the company. Marshall Wace LLP grew its position in shares of Okta by 35.5% in the 4th quarter. Marshall Wace LLP now owns 3,583,937 shares of the company’s stock worth $282,414,000 after acquiring an additional 938,509 shares in the last quarter. Norges Bank bought a new position in Okta during the fourth quarter worth $234,992,000. Geode Capital Management LLC boosted its holdings in Okta by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company’s stock worth $212,385,000 after purchasing an additional 135,110 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Okta by 54.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,241,220 shares of the company’s stock valued at $97,808,000 after purchasing an additional 440,171 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Okta by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company’s stock worth $87,903,000 after purchasing an additional 46,064 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Trading Up 2.0 %

Shares of NASDAQ:OKTA opened at $94.33 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $16.38 billion, a price-to-earnings ratio of -269.51, a PEG ratio of 6.42 and a beta of 1.07. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $118.07. The company has a 50 day moving average price of $102.14 and a 200 day moving average price of $88.94.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 2,740 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $97.59, for a total transaction of $267,396.60. Following the completion of the sale, the insider now directly owns 22,125 shares in the company, valued at approximately $2,159,178.75. This trade represents a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $87.09, for a total transaction of $33,965,100.00. The disclosure for this sale can be found here. Insiders sold a total of 757,192 shares of company stock valued at $70,390,406 in the last three months. 7.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OKTA. Susquehanna lifted their price target on shares of Okta from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Stephens initiated coverage on Okta in a report on Tuesday, April 1st. They set an “equal weight” rating and a $127.00 target price for the company. Stifel Nicolaus raised their price target on Okta from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. UBS Group set a $135.00 price objective on Okta in a research note on Tuesday, March 4th. Finally, Cantor Fitzgerald began coverage on Okta in a research report on Monday, March 31st. They issued an “overweight” rating and a $130.00 target price on the stock. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $116.03.

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.