Barton Investment Management Has $20.55 Million Position in Okta, Inc. (NASDAQ:OKTA)

Barton Investment Management decreased its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 260,744 shares of the company’s stock after selling 21,894 shares during the quarter. Okta makes up approximately 2.2% of Barton Investment Management’s holdings, making the stock its 8th biggest holding. Barton Investment Management’s holdings in Okta were worth $20,547,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Itau Unibanco Holding S.A. acquired a new position in Okta during the 3rd quarter valued at approximately $25,000. Future Financial Wealth Managment LLC bought a new stake in Okta in the third quarter valued at $26,000. Blue Trust Inc. boosted its holdings in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after acquiring an additional 191 shares during the period. Legacy Investment Solutions LLC bought a new position in shares of Okta during the third quarter worth about $32,000. Finally, Modus Advisors LLC acquired a new stake in shares of Okta in the 4th quarter worth about $44,000. Institutional investors own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Truist Financial reiterated a “hold” rating and set a $92.00 price objective (up from $80.00) on shares of Okta in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft lowered shares of Okta from a “buy” rating to a “hold” rating and decreased their target price for the company from $115.00 to $85.00 in a research report on Tuesday, November 12th. Jefferies Financial Group dropped their price target on shares of Okta from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company raised their price objective on shares of Okta from $80.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $101.00 target price on shares of Okta in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $104.55.

Insider Activity at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 131,426 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the completion of the sale, the director now owns 1,622 shares of the company’s stock, valued at $130,862.96. This represents a 98.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total transaction of $445,000.00. Following the completion of the transaction, the chief financial officer now directly owns 112,533 shares in the company, valued at approximately $10,015,437. This represents a 4.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 913,168 shares of company stock valued at $78,420,769. 7.00% of the stock is owned by corporate insiders.

Okta Price Performance

Shares of OKTA stock opened at $97.45 on Thursday. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $114.50. The stock’s 50-day moving average is $85.18 and its two-hundred day moving average is $82.08. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

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.