Fox Run Management L.L.C. Boosts Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Fox Run Management L.L.C. lifted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 300.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 22,517 shares of the company’s stock after acquiring an additional 16,897 shares during the quarter. Okta accounts for about 0.3% of Fox Run Management L.L.C.’s investment portfolio, making the stock its 26th largest holding. Fox Run Management L.L.C.’s holdings in Okta were worth $1,774,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new stake in shares of Okta in the third quarter worth $49,373,000. Nordea Investment Management AB increased its stake in Okta by 1,150.2% in the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock worth $33,146,000 after acquiring an additional 382,190 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Okta by 138.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock worth $43,721,000 after acquiring an additional 322,201 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Okta by 58.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 568,797 shares of the company’s stock valued at $44,821,000 after acquiring an additional 210,615 shares during the last quarter. Finally, Tredje AP fonden grew its holdings in shares of Okta by 757.5% during the fourth quarter. Tredje AP fonden now owns 226,295 shares of the company’s stock worth $17,832,000 after purchasing an additional 199,906 shares in the last quarter. 86.64% of the stock is owned by institutional investors.

Okta Price Performance

Shares of OKTA stock opened at $113.74 on Friday. 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 firm has a market cap of $19.75 billion, a P/E ratio of -324.97, a P/E/G ratio of 6.42 and a beta of 1.09. The business’s 50 day moving average price is $97.48 and its 200-day moving average price is $84.32. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $116.96.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Barclays lifted their price objective on shares of Okta from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. The Goldman Sachs Group increased their target price on Okta from $107.00 to $123.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Oppenheimer lifted their price target on Okta from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. Finally, UBS Group set a $135.00 price objective on Okta in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Okta presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.29.

Insider Buying and Selling

In other news, insider Larissa Schwartz sold 11,552 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the transaction, the insider now owns 22,125 shares of the company’s stock, valued at approximately $2,524,241.25. This represents a 34.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total value of $445,000.00. Following the sale, the chief financial officer now owns 112,533 shares in the company, valued at $10,015,437. This represents a 4.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 763,901 shares of company stock valued at $70,880,205 over the last quarter. 7.00% of the stock is owned by company insiders.

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.