Okta, Inc. (NASDAQ:OKTA) Stake Raised by Vestcor Inc

by · The Cerbat Gem

Vestcor Inc grew its holdings in shares of Okta, Inc. (NASDAQ:OKTA – Free Report) by 573.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,485 shares of the company’s stock after buying an additional 20,000 shares during the period. Vestcor Inc’s holdings in Okta were worth $1,851,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Okta by 58.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 568,797 shares of the company’s stock worth $44,821,000 after purchasing an additional 210,615 shares in the last quarter. Great Lakes Advisors LLC lifted its position in Okta by 2.7% in the fourth quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company’s stock worth $557,000 after purchasing an additional 184 shares during the period. Truvestments Capital LLC lifted its position in Okta by 8.0% in the fourth quarter. Truvestments Capital LLC now owns 3,829 shares of the company’s stock worth $302,000 after purchasing an additional 282 shares during the period. Wealthfront Advisers LLC boosted its stake in Okta by 160.6% during the fourth quarter. Wealthfront Advisers LLC now owns 15,482 shares of the company’s stock valued at $1,220,000 after buying an additional 9,541 shares in the last quarter. Finally, EPIQ Capital Group LLC acquired a new position in Okta during the fourth quarter worth about $236,000. Institutional investors own 86.64% of the company’s stock.

Insider Activity

In related news, CFO Brett Tighe sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total value of $445,000.00. Following the completion of the sale, the chief financial officer now directly owns 112,533 shares in the company, valued at approximately $10,015,437. The trade was a 4.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jacques Frederic Kerrest sold 3,306 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $88.85, for a total value of $293,738.10. The disclosure for this sale can be found here. Insiders sold a total of 979,482 shares of company stock worth $88,072,216 in the last three months. 7.00% of the stock is owned by insiders.

Okta Stock Up 5.6 %

Shares of Okta stock opened at $112.55 on Friday. The firm has a market cap of $19.29 billion, a price-to-earnings ratio of -321.57, a P/E/G ratio of 6.42 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $116.96. The stock has a 50-day simple moving average of $94.58 and a 200-day simple moving average of $83.35.

Analyst Ratings Changes

A number of research analysts recently issued reports on OKTA shares. KeyCorp lifted their target price on Okta from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. BTIG Research reaffirmed a “buy” rating on shares of Okta in a report on Tuesday, March 4th. Barclays lifted their target price on Okta from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. BMO Capital Markets lifted their target price on Okta from $105.00 to $130.00 and gave the stock a “market perform” rating in a report on Monday, March 10th. Finally, Susquehanna lifted their target price on Okta from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.39.

View Our Latest Stock Report on OKTA

Okta Company Profile

(Free Report)

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.

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