Okta, Inc. (NASDAQ:OKTA) Shares Bought by Ieq Capital LLC

Ieq Capital LLC raised its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 100.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 97,988 shares of the company’s stock after purchasing an additional 49,002 shares during the period. Ieq Capital LLC owned 0.06% of Okta worth $7,721,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in OKTA. Bank of Jackson Hole Trust purchased a new position in Okta during the 4th quarter worth $25,000. Itau Unibanco Holding S.A. acquired a new stake in Okta in the third quarter worth about $25,000. Blue Trust Inc. grew its stake 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 acquiring an additional 191 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Okta during the third quarter worth about $32,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of Okta during the fourth quarter valued at about $44,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on OKTA. Scotiabank dropped their target price on shares of Okta from $96.00 to $94.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. JMP Securities reissued a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. The Goldman Sachs Group raised their target price on Okta from $97.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Citigroup boosted their price target on Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $101.00 price objective on shares of Okta in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Okta presently has a consensus rating of “Hold” and a consensus target price of $106.13.

Okta Stock Performance

OKTA opened at $95.19 on Friday. The firm’s fifty day simple moving average is $88.43 and its two-hundred day simple moving average is $82.47. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $114.50. The company has a market cap of $16.31 billion, a price-to-earnings ratio of -271.97, a PEG ratio of 6.54 and a beta of 1.03. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Insider Activity at Okta

In other news, insider Larissa Schwartz sold 2,704 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the sale, the insider now owns 24,462 shares of the company’s stock, valued at $1,969,191. This represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the completion of the transaction, the director now directly owns 1,622 shares in the company, valued at approximately $130,862.96. This represents a 98.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 980,908 shares of company stock valued at $85,025,665. 7.00% of the stock is owned by corporate insiders.

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.