Teza Capital Management LLC Invests $1.57 Million in Okta, Inc. (NASDAQ:OKTA)

Teza Capital Management LLC acquired a new position in Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 19,884 shares of the company’s stock, valued at approximately $1,567,000.

Several other institutional investors have also recently modified their holdings of OKTA. Norges Bank purchased a new position in shares of Okta in the fourth quarter worth about $234,992,000. Ameriprise Financial Inc. grew its holdings in Okta by 2,135.7% during the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company’s stock worth $150,845,000 after acquiring an additional 1,828,630 shares during the period. Alyeska Investment Group L.P. grew its holdings in Okta by 2,309.4% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company’s stock worth $139,693,000 after acquiring an additional 1,699,176 shares during the period. Point72 Asset Management L.P. grew its holdings in Okta by 236.8% during the fourth quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company’s stock worth $176,271,000 after acquiring an additional 1,572,786 shares during the period. Finally, Sachem Head Capital Management LP acquired a new stake in Okta during the fourth quarter worth about $105,592,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Okta news, CRO Jonathan James Addison sold 7,005 shares of Okta stock in a transaction on Friday, April 11th. The stock was sold at an average price of $101.19, for a total value of $708,835.95. Following the sale, the executive now owns 19,067 shares in the company, valued at $1,929,389.73. The trade was a 26.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the sale, the insider now owns 22,125 shares in the company, valued at $2,524,241.25. This represents a 34.30% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 154,452 shares of company stock worth $16,347,360. 5.68% of the stock is owned by corporate insiders.

Okta Stock Performance

Shares of Okta stock opened at $127.30 on Monday. Okta, Inc. has a one year low of $70.56 and a one year high of $127.57. The company has a market cap of $22.10 billion, a price-to-earnings ratio of -363.71, a PEG ratio of 6.42 and a beta of 0.96. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The business’s 50 day moving average price is $108.15 and its 200 day moving average price is $94.16.

Analyst Upgrades and Downgrades

Several research firms recently commented on OKTA. Truist Financial raised their target price on Okta from $92.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. Morgan Stanley dropped their price objective on Okta from $125.00 to $123.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Stifel Nicolaus raised their price objective on Okta from $115.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. raised their price objective on Okta from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, Stephens started coverage on Okta in a report on Tuesday, April 1st. They issued an “equal weight” rating and a $127.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $117.74.

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.