Pinebridge Investments L.P. lifted its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 76.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 159,480 shares of the company's stock after purchasing an additional 69,052 shares during the quarter. Pinebridge Investments L.P. owned 0.10% of Okta worth $14,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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Other large investors have also recently modified their holdings of the company. NBC Securities Inc. bought a new stake in Okta in the 3rd quarter worth about $27,000. GAMMA Investing LLC bought a new stake in Okta in the 4th quarter worth about $29,000. Principal Securities Inc. bought a new stake in Okta in the 4th quarter worth about $48,000. Quintet Private Bank Europe S.A. bought a new stake in Okta in the 3rd quarter worth about $64,000. Finally, Tucker Asset Management LLC bought a new stake in Okta in the 3rd quarter worth about $65,000. Hedge funds and other institutional investors own 86.64% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on OKTA. JPMorgan Chase & Co. boosted their price target on Okta from $105.00 to $110.00 and gave the company a "neutral" rating in a research note on Thursday, May 30th. Bank of America upgraded Okta from an "underperform" rating to a "buy" rating and boosted their price target for the company from $64.00 to $135.00 in a research note on Thursday, February 29th. Evercore ISI upgraded Okta from an "in-line" rating to an "outperform" rating and boosted their price target for the company from $102.00 to $122.00 in a research note on Thursday, May 30th. UBS Group cut their price target on Okta from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, May 30th. Finally, Sanford C. Bernstein lifted their price objective on Okta from $84.00 to $114.00 and gave the company a "market perform" rating in a research report on Thursday, February 29th. Nineteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $104.48.
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Read Our Latest Research Report on Okta
Okta Trading Down 0.9 %
OKTA stock traded down $0.82 during midday trading on Thursday, reaching $87.69. The company's stock had a trading volume of 1,193,478 shares, compared to its average volume of 1,921,733. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a fifty day simple moving average of $96.62 and a two-hundred day simple moving average of $90.83. Okta, Inc. has a 1 year low of $65.04 and a 1 year high of $114.50. The firm has a market capitalization of $14.68 billion, a price-to-earnings ratio of -52.51 and a beta of 1.03.
Insiders Place Their Bets
- Okta Raises EPS Forecasts Despite High Profile Security Breaches
In other Okta news, CAO Shibu Ninan sold 4,279 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total value of $445,615.06. Following the sale, the chief accounting officer now owns 4,111 shares in the company, valued at $428,119.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Shellye L. Archambeau sold 5,000 shares of the firm's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the transaction, the director now owns 6,042 shares in the company, valued at $646,252.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Shibu Ninan sold 4,279 shares of the firm's stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total value of $445,615.06. Following the transaction, the chief accounting officer now owns 4,111 shares in the company, valued at approximately $428,119.54. The disclosure for this sale can be found here. Insiders own 7.00% of the company's stock.
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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