110,000 Shares in Okta, Inc. (NASDAQ:OKTA) Acquired by Sellaronda Global Management LP

Sellaronda Global Management LP bought a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the fourth quarter, Holdings Channel reports. The firm bought 110,000 shares of the company’s stock, valued at approximately $8,668,000. Okta accounts for 8.7% of Sellaronda Global Management LP’s portfolio, making the stock its 6th largest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new stake in shares of Okta during the 4th quarter worth $1,686,000. Stifel Financial Corp boosted its holdings in Okta by 56.1% during 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 during the period. Nordea Investment Management AB boosted its holdings in Okta by 1,150.2% during 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 during the period. Charles Schwab Investment Management Inc. grew its position in shares of Okta by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company’s stock valued at $87,903,000 after purchasing an additional 46,064 shares during the last quarter. Finally, Sanctuary Advisors LLC increased its stake in shares of Okta by 125.8% in the third quarter. Sanctuary Advisors LLC now owns 11,244 shares of the company’s stock worth $861,000 after purchasing an additional 6,265 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Transactions at Okta

In other Okta news, insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $89.58, for a total transaction of $242,224.32. Following the completion of the sale, the insider now directly owns 23,311 shares of the company’s stock, valued at approximately $2,088,199.38. The trade was a 10.39 % decrease in their position. The sale 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 company’s 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 761,197 shares of company stock worth $70,662,533. Corporate insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on OKTA. Sanford C. Bernstein decreased their target price on Okta from $129.00 to $124.00 and set an “outperform” rating for the company in a research note on Tuesday, December 17th. BMO Capital Markets increased their price objective on Okta from $105.00 to $130.00 and gave the company a “market perform” rating in a research report on Monday, March 10th. Mizuho upgraded shares of Okta from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $110.00 to $127.00 in a research note on Tuesday, March 4th. Stifel Nicolaus upped their target price on shares of Okta from $115.00 to $120.00 and gave the company a “buy” rating in a research note 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 investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.09.

Okta Stock Down 0.8 %

Shares of NASDAQ:OKTA opened at $91.24 on Tuesday. 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 firm has a market cap of $15.84 billion, a P/E ratio of -260.69, a P/E/G ratio of 6.42 and a beta of 1.07. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $118.07. The company’s 50-day moving average price is $101.65 and its two-hundred day moving average price is $86.96.

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.