Octavia Wealth Advisors LLC Takes Position in Okta, Inc. (NASDAQ:OKTA)

Octavia Wealth Advisors LLC acquired a new stake in Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,035 shares of the company’s stock, valued at approximately $318,000.

Other institutional investors have also modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Okta in the third quarter valued at $25,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Okta during the third quarter worth $26,000. Blue Trust Inc. raised its position in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares during the period. Legacy Investment Solutions LLC acquired a new stake in shares of Okta during the third quarter worth $32,000. Finally, Modus Advisors LLC acquired a new stake in shares of Okta during the fourth quarter worth $44,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Buying and Selling 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 value of $10,603,449.68. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 369,949 shares of company stock valued at $30,201,213 in the last quarter. Corporate insiders own 7.00% of the company’s stock.

Okta Stock Performance

Shares of NASDAQ:OKTA opened at $89.40 on Wednesday. The business has a 50 day moving average price of $81.45 and a 200 day moving average price of $82.23. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on OKTA shares. Westpark Capital reaffirmed a “buy” rating and set a $140.00 target price on shares of Okta in a research report on Wednesday, December 4th. DA Davidson upped their price target on Okta from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Needham & Company LLC upped their price target on Okta from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Citigroup upped their price target on Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Finally, JMP Securities reissued a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $104.55.

About Okta

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.