6,155 Shares in Okta, Inc. (NASDAQ:OKTA) Acquired by Great Lakes Advisors LLC

Great Lakes Advisors LLC bought a new position in shares of Okta, Inc. (NASDAQ:OKTAFree Report) in the 4th quarter, HoldingsChannel.com reports. The fund bought 6,155 shares of the company’s stock, valued at approximately $557,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new stake in shares of Okta during the 3rd quarter worth about $27,000. GAMMA Investing LLC acquired a new stake in shares of Okta during the fourth quarter valued at about $29,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Okta in the 3rd quarter valued at approximately $39,000. Principal Securities Inc. acquired a new position in shares of Okta in the 4th quarter worth approximately $48,000. Finally, UMB Bank n.a. boosted its position in shares of Okta by 150.5% during the 4th quarter. UMB Bank n.a. now owns 749 shares of the company’s stock worth $68,000 after purchasing an additional 450 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analysts Set New Price Targets

OKTA has been the topic of a number of research reports. The Goldman Sachs Group upped their price target on Okta from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Piper Sandler increased their target price on Okta from $85.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Oppenheimer raised their target price on Okta from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Royal Bank of Canada boosted their price target on shares of Okta from $95.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, Susquehanna increased their price target on shares of Okta from $70.00 to $115.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Twenty equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Okta currently has a consensus rating of “Hold” and an average price target of $101.84.

Get Our Latest Stock Analysis on OKTA

Okta Stock Performance

OKTA opened at $100.87 on Thursday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50. The business’s 50-day simple moving average is $99.55 and its 200-day simple moving average is $89.18.

Okta (NASDAQ:OKTAGet Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.35. Okta had a negative return on equity of 5.69% and a negative net margin of 15.69%. The firm had revenue of $605.00 million during the quarter, compared to the consensus estimate of $586.25 million. As a group, analysts forecast that Okta, Inc. will post -1.51 earnings per share for the current year.

Insider Activity at Okta

In other Okta news, Director Shellye L. Archambeau sold 5,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $106.96, for a total value of $534,800.00. Following the completion of the transaction, the director now owns 6,042 shares in the company, valued at $646,252.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Okta news, CAO Shibu Ninan sold 4,279 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total transaction of $445,615.06. Following the transaction, the chief accounting officer now directly owns 4,111 shares of the company’s stock, valued at approximately $428,119.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shellye L. Archambeau sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $106.96, for a total transaction of $534,800.00. Following the completion of the sale, the director now directly owns 6,042 shares of the company’s stock, valued at $646,252.32. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.

About Okta

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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