Jacobson & Schmitt Advisors LLC Has $7.55 Million Stock Position in Okta, Inc. (NASDAQ:OKTA)

Jacobson & Schmitt Advisors LLC grew its position in Okta, Inc. (NASDAQ:OKTA) by 53.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 95,793 shares of the company’s stock after buying an additional 33,385 shares during the period. Jacobson & Schmitt Advisors LLC owned approximately 0.06% of Okta worth $7,548,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in OKTA. Charles Schwab Investment Management Inc. boosted its stake in Okta by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock worth $79,503,000 after purchasing an additional 17,950 shares during the period. Penserra Capital Management LLC boosted its stake in Okta by 9.8% in the 3rd quarter. Penserra Capital Management LLC now owns 767,962 shares of the company’s stock worth $57,089,000 after purchasing an additional 68,757 shares during the period. Point72 Asset Management L.P. acquired a new position in Okta in the 3rd quarter worth $49,373,000. Allspring Global Investments Holdings LLC boosted its stake in Okta by 138.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock worth $43,721,000 after purchasing an additional 322,201 shares during the period. Finally, Glenmede Trust Co. NA boosted its stake in Okta by 17.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 510,658 shares of the company’s stock worth $37,962,000 after purchasing an additional 76,588 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Performance

Shares of NASDAQ:OKTA opened at $96.98 on Thursday. The company’s 50 day moving average price is $88.20 and its two-hundred day moving average price is $82.38. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50. The firm has a market cap of $16.62 billion, a PE ratio of -277.09, a PEG ratio of 6.49 and a beta of 1.03. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Wall Street Analyst Weigh In

OKTA has been the subject of a number of research analyst reports. Susquehanna upped their target price on shares of Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised shares of Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price target on the stock in a research report on Monday, December 16th. Stifel Nicolaus boosted their price target on shares of Okta from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. DA Davidson boosted their price target on shares of Okta from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, BMO Capital Markets boosted their price target on shares of Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Okta currently has an average rating of “Hold” and a consensus target price of $105.45.

Insiders Place Their Bets

In related news, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the sale, the insider now owns 24,462 shares in the company, valued at approximately $1,969,191. This trade represents a 9.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd Mckinnon sold 233,028 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was 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. Insiders have sold a total of 980,908 shares of company stock worth $85,025,665 in the last quarter. Corporate insiders own 7.00% of the company’s stock.

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.