Ballentine Partners LLC Invests $204,000 in Okta, Inc. (NASDAQ:OKTA)

Ballentine Partners LLC bought a new stake in shares of Okta, Inc. (NASDAQ:OKTA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,591 shares of the company’s stock, valued at approximately $204,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Paloma Partners Management Co bought a new stake in shares of Okta in the 3rd quarter valued at $969,000. SG Americas Securities LLC boosted its position in Okta by 122.3% during the third quarter. SG Americas Securities LLC now owns 17,021 shares of the company’s stock valued at $1,265,000 after acquiring an additional 9,364 shares during the last quarter. Truist Financial Corp raised its position in shares of Okta by 62.5% in the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock worth $48,870,000 after acquiring an additional 200,770 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of Okta by 56.1% in the 3rd quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock valued at $2,770,000 after purchasing an additional 13,387 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of Okta by 1,150.2% during the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after purchasing an additional 382,190 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on OKTA. BTIG Research boosted their price target on Okta from $98.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group boosted their target price on shares of Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Barclays raised their price target on shares of Okta from $81.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. DA Davidson upped their price objective on shares of Okta from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company raised their target price on Okta from $80.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $104.55.

Insiders Place Their Bets

In related news, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $89.58, for a total value of $242,224.32. Following the completion of the sale, the insider now owns 23,311 shares of the company’s stock, valued at approximately $2,088,199.38. This trade represents a 10.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brett Tighe sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total transaction of $445,000.00. Following the sale, the chief financial officer now directly owns 112,533 shares in the company, valued at approximately $10,015,437. This trade represents a 4.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 380,959 shares of company stock valued at $31,182,175 over the last ninety days. 7.00% of the stock is currently owned by insiders.

Okta Trading Up 0.9 %

Shares of OKTA stock opened at $88.86 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm has a market cap of $15.23 billion, a P/E ratio of -253.89, a PEG ratio of 8.95 and a beta of 1.00. The company has a 50 day moving average of $82.18 and a 200-day moving average of $82.16. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50.

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.