Inceptionr LLC Invests $643,000 in Okta, Inc. (NASDAQ:OKTA)

Inceptionr LLC bought a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,161 shares of the company’s stock, valued at approximately $643,000.

Other large investors have also made changes to their positions in the company. Bank of Jackson Hole Trust acquired a new position in shares of Okta during the 4th quarter worth approximately $25,000. Itau Unibanco Holding S.A. acquired a new position in shares of Okta during the 3rd quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Okta during the 3rd quarter worth approximately $32,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Okta during the 4th quarter worth approximately $44,000. Finally, Modus Advisors LLC acquired a new position in shares of Okta during the 4th quarter worth approximately $44,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Price Performance

OKTA opened at $112.44 on Friday. The stock’s 50-day moving average price is $91.10 and its 200 day moving average price is $82.90. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $116.96. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm has a market cap of $19.27 billion, a price-to-earnings ratio of -321.26, a PEG ratio of 6.42 and a beta of 1.09.

Insider Buying and Selling

In other Okta news, Director Jacques Frederic Kerrest sold 130,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total value of $13,650,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Todd Mckinnon sold 233,028 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 979,482 shares of company stock valued at $88,072,216. Corporate insiders own 7.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Jefferies Financial Group boosted their price target on Okta from $90.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday. Sanford C. Bernstein dropped their price target on Okta from $129.00 to $124.00 and set an “outperform” rating for the company in a research report on Tuesday, December 17th. Citigroup boosted their price target on Okta from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft cut Okta from a “buy” rating to a “hold” rating and dropped their price target for the stock from $115.00 to $85.00 in a research report on Tuesday, November 12th. Finally, KeyCorp boosted their price target on Okta from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $113.10.

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.