Okta, Inc. (NASDAQ:OKTA) Shares Purchased by Synergy Financial Group LTD

Synergy Financial Group LTD grew its holdings in Okta, Inc. (NASDAQ:OKTA) by 9.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,999 shares of the company’s stock after purchasing an additional 616 shares during the quarter. Synergy Financial Group LTD’s holdings in Okta were worth $552,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Blue Trust Inc. raised its stake in Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after buying an additional 191 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Okta by 3,719.2% in the 3rd quarter. International Assets Investment Management LLC now owns 9,739 shares of the company’s stock valued at $724,000 after acquiring an additional 9,484 shares during the last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of Okta during the 3rd quarter worth about $581,000. Forsta AP Fonden lifted its stake in Okta by 25.2% during the third quarter. Forsta AP Fonden now owns 52,600 shares of the company’s stock worth $3,910,000 after purchasing an additional 10,600 shares during the last quarter. Finally, J.W. Cole Advisors Inc. acquired a new position in Okta in the third quarter valued at approximately $214,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Down 2.0 %

Shares of NASDAQ OKTA opened at $90.88 on Tuesday. The stock has a fifty day moving average price of $88.77 and a 200 day moving average price of $82.53. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50. The company has a market cap of $15.57 billion, a P/E ratio of -259.66, a P/E/G ratio of 6.42 and a beta of 1.03.

Insider Activity at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 131,426 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.68, for a total value of $10,603,449.68. Following the transaction, the director now owns 1,622 shares in the company, valued at $130,862.96. The trade was a 98.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Todd Mckinnon sold 233,028 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 980,908 shares of company stock worth $85,025,665. 7.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

OKTA has been the topic of a number of research analyst reports. Stifel Nicolaus raised their price objective on shares of Okta from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Mizuho lifted their price target on shares of Okta from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Truist Financial restated a “hold” rating and issued a $92.00 price objective (up previously from $80.00) on shares of Okta in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft cut Okta from a “buy” rating to a “hold” rating and cut their target price for the stock from $115.00 to $85.00 in a research report on Tuesday, November 12th. Finally, Guggenheim reissued a “buy” rating and issued a $130.00 target price on shares of Okta in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $106.13.

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.