OVERSEA CHINESE BANKING Corp Ltd Acquires Shares of 2,889 Okta, Inc. (NASDAQ:OKTA)

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Okta, Inc. (NASDAQ:OKTA) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 2,889 shares of the company’s stock, valued at approximately $228,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Xponance Inc. lifted its holdings in shares of Okta by 11.3% during the fourth quarter. Xponance Inc. now owns 22,389 shares of the company’s stock valued at $1,764,000 after acquiring an additional 2,271 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Okta by 37.6% during the fourth quarter. Parallel Advisors LLC now owns 4,670 shares of the company’s stock valued at $368,000 after acquiring an additional 1,275 shares during the period. Creative Financial Designs Inc. ADV lifted its holdings in shares of Okta by 23.9% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 2,111 shares of the company’s stock valued at $166,000 after acquiring an additional 407 shares during the period. Frank Rimerman Advisors LLC lifted its holdings in shares of Okta by 2.4% during the fourth quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock valued at $352,000 after acquiring an additional 105 shares during the period. Finally, LBP AM SA acquired a new stake in shares of Okta in the fourth quarter valued at $1,986,000. 86.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. DA Davidson upgraded Okta from a “neutral” rating to a “buy” rating and raised their target price for the company from $90.00 to $125.00 in a research note on Tuesday, March 4th. Barclays raised their target price on Okta from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Morgan Stanley set a $125.00 target price on Okta in a research note on Tuesday. Robert W. Baird raised their target price on Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Finally, Westpark Capital restated a “buy” rating and issued a $140.00 target price on shares of Okta in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.29.

Okta Trading Down 1.1 %

NASDAQ:OKTA opened at $112.80 on Friday. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $116.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market capitalization of $19.58 billion, a PE ratio of -322.29, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. The business’s 50-day simple moving average is $96.89 and its 200-day simple moving average is $84.07.

Insider Activity

In other news, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $80.50, for a total transaction of $217,672.00. Following the transaction, the insider now owns 24,462 shares in the company, valued at $1,969,191. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jacques Frederic Kerrest sold 3,306 shares of Okta stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total value of $293,738.10. The disclosure for this sale can be found here. Insiders have sold 752,349 shares of company stock worth $69,562,237 in the last 90 days. Corporate insiders own 7.00% of the company’s stock.

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.