Advisors Management Group Inc. ADV Acquires 514 Shares of Okta, Inc. (NASDAQ:OKTA)

Advisors Management Group Inc. ADV grew its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,272 shares of the company’s stock after acquiring an additional 514 shares during the period. Advisors Management Group Inc. ADV’s holdings in Okta were worth $967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Itau Unibanco Holding S.A. bought a new stake in shares of Okta during the third quarter valued at approximately $25,000. Future Financial Wealth Managment LLC purchased a new position in shares of Okta during the third quarter valued at about $26,000. Blue Trust Inc. increased its holdings in shares of Okta by 105.5% in 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 last quarter. Legacy Investment Solutions LLC bought a new position in Okta during the third quarter valued at approximately $32,000. Finally, Modus Advisors LLC bought a new position in shares of Okta during the 4th quarter valued at approximately $44,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on OKTA. Canaccord Genuity Group lifted their price objective on shares of Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Robert W. Baird increased their price target on Okta from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Royal Bank of Canada restated an “outperform” rating and issued a $101.00 target price on shares of Okta in a report on Wednesday, December 4th. Mizuho cut their price target on shares of Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Finally, Needham & Company LLC boosted their target price on Okta from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One investment 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $104.45.

Insider Buying and Selling

In related news, insider Larissa Schwartz sold 2,791 shares of Okta stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $71.50, for a total transaction of $199,556.50. Following the completion of the transaction, the insider now directly owns 22,125 shares in the company, valued at approximately $1,581,937.50. This trade represents a 11.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the director now owns 1,622 shares in the company, valued at approximately $130,862.96. This represents a 98.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 594,482 shares of company stock valued at $46,955,865 over the last 90 days. Insiders own 7.00% of the company’s stock.

Okta Stock Performance

Okta stock opened at $84.20 on Thursday. The business’s 50-day simple moving average is $80.52 and its two-hundred day simple moving average is $82.50. 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 fifty-two week low of $70.56 and a fifty-two week high of $114.50.

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.