560 Shares in Okta, Inc. (NASDAQ:OKTA) Acquired by Wingate Wealth Advisors Inc.

Wingate Wealth Advisors Inc. purchased a new position in Okta, Inc. (NASDAQ:OKTA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 560 shares of the company’s stock, valued at approximately $44,000.

A number of other hedge funds also recently modified their holdings of OKTA. Point72 Asset Management L.P. purchased a new position in Okta in the 3rd quarter valued at approximately $49,373,000. Nordea Investment Management AB grew its stake in Okta by 1,150.2% in the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after buying an additional 382,190 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Okta by 232.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock valued at $29,479,000 after buying an additional 277,084 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Okta by 105.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock valued at $26,627,000 after buying an additional 184,107 shares in the last quarter. Finally, Quantinno Capital Management LP grew its stake in Okta by 126.0% in the 3rd quarter. Quantinno Capital Management LP now owns 224,360 shares of the company’s stock valued at $16,679,000 after buying an additional 125,074 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Insider Activity

In related news, Director Jacques Frederic Kerrest sold 131,426 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the transaction, the director now owns 1,622 shares in the company, valued at $130,862.96. The trade was a 98.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd Mckinnon sold 233,028 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $82.31, for a total transaction of $19,180,534.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 978,168 shares of company stock valued at $84,758,269. Insiders own 7.00% of the company’s stock.

Okta Stock Performance

Shares of NASDAQ:OKTA opened at $97.66 on Tuesday. The company has a market cap of $16.73 billion, a price-to-earnings ratio of -279.03, a price-to-earnings-growth ratio of 6.58 and a beta of 1.03. The company has a 50-day moving average price of $86.33 and a 200-day moving average price of $82.06. 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 12 month low of $70.56 and a 12 month high of $114.50.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. DA Davidson boosted their price target on shares of Okta from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. BMO Capital Markets boosted their price target on shares of Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Scotiabank reduced their price target on shares of Okta from $96.00 to $94.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Mizuho reduced their price target on shares of Okta from $104.00 to $92.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Finally, Barclays boosted their price target on shares of Okta from $81.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $104.55.

About Okta

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.