CIBC Asset Management Inc Acquires 783 Shares of Okta, Inc. (NASDAQ:OKTA)

CIBC Asset Management Inc grew its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 13.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,433 shares of the company’s stock after acquiring an additional 783 shares during the period. CIBC Asset Management Inc’s holdings in Okta were worth $507,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of OKTA. Blue Trust Inc. raised its stake in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after acquiring an additional 191 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Okta by 3,719.2% during the third quarter. International Assets Investment Management LLC now owns 9,739 shares of the company’s stock valued at $724,000 after acquiring an additional 9,484 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in shares of Okta during the third quarter valued at $581,000. Forsta AP Fonden raised its stake in shares of Okta by 25.2% during the third quarter. Forsta AP Fonden now owns 52,600 shares of the company’s stock valued at $3,910,000 after acquiring an additional 10,600 shares during the last quarter. Finally, J.W. Cole Advisors Inc. bought a new position in shares of Okta during the third quarter valued at $214,000. Institutional investors own 86.64% of the company’s stock.

Okta Trading Down 2.6 %

Shares of OKTA stock opened at $92.75 on Friday. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $114.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The company has a 50-day simple moving average of $88.64 and a two-hundred day simple moving average of $82.53. The company has a market capitalization of $15.89 billion, a price-to-earnings ratio of -265.00, a PEG ratio of 6.42 and a beta of 1.03.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Guggenheim reissued a “buy” rating and set a $130.00 target price on shares of Okta in a research note on Wednesday, December 4th. Westpark Capital reissued a “buy” rating and set a $140.00 target price on shares of Okta in a research note on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and set a $101.00 target price on shares of Okta in a research note on Wednesday, December 4th. Piper Sandler lifted their target price on shares of Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, UBS Group lifted their target price on shares of Okta from $108.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Okta has a consensus rating of “Hold” and a consensus price target of $106.13.

Insiders Place Their Bets

In other Okta news, Director Jacques Frederic Kerrest sold 65,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $97.50, for a total value of $6,337,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the transaction, the insider now owns 24,462 shares in the company, valued at approximately $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 980,908 shares of company stock valued at $85,025,665. Corporate insiders own 7.00% of the company’s stock.

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.