Prevail Innovative Wealth Advisors LLC Acquires Shares of 45,984 Okta, Inc. (NASDAQ:OKTA)

Prevail Innovative Wealth Advisors LLC acquired a new position in Okta, Inc. (NASDAQ:OKTA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 45,984 shares of the company’s stock, valued at approximately $3,624,000. Okta makes up approximately 1.0% of Prevail Innovative Wealth Advisors LLC’s holdings, making the stock its 29th largest position.

A number of other large investors have also recently made changes to their positions in OKTA. Cerity Partners LLC increased its stake in Okta by 211.4% during the third quarter. Cerity Partners LLC now owns 54,412 shares of the company’s stock worth $4,045,000 after acquiring an additional 36,936 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Okta by 3.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,737 shares of the company’s stock valued at $575,000 after purchasing an additional 250 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Okta during the 3rd quarter valued at $53,000. Townsquare Capital LLC lifted its position in Okta by 16.5% in the third quarter. Townsquare Capital LLC now owns 6,321 shares of the company’s stock worth $470,000 after buying an additional 896 shares during the last quarter. Finally, Cynosure Group LLC purchased a new position in Okta during the third quarter worth $295,000. 86.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 390,000 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $87.09, for a total transaction of $33,965,100.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Larissa Schwartz sold 2,704 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $80.50, for a total value of $217,672.00. Following the completion of the sale, the insider now directly owns 24,462 shares in the company, valued at approximately $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 763,901 shares of company stock valued at $70,880,205. 7.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on OKTA shares. Jefferies Financial Group raised their target price on shares of Okta from $90.00 to $110.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. Mizuho raised shares of Okta from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $110.00 to $127.00 in a research note on Tuesday, March 4th. KeyCorp upped their target price on Okta from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. The Goldman Sachs Group raised their price target on Okta from $107.00 to $123.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Finally, Truist Financial upped their price objective on Okta from $92.00 to $100.00 and gave the company a “hold” rating 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $115.29.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $107.99 on Friday. 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 twelve month low of $70.56 and a twelve month high of $118.07. The company’s 50 day moving average is $100.33 and its 200 day moving average is $85.78. The company has a market cap of $18.75 billion, a PE ratio of -308.54, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09.

Okta 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.