GraniteShares Advisors LLC Has $402,000 Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

GraniteShares Advisors LLC lessened its position in shares of Okta, Inc. (NASDAQ:OKTA) by 19.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,097 shares of the company’s stock after selling 1,238 shares during the quarter. GraniteShares Advisors LLC’s holdings in Okta were worth $402,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in OKTA. Point72 Asset Management L.P. acquired a new position in shares of Okta during the third quarter valued at $49,373,000. Nordea Investment Management AB lifted its stake in Okta by 1,150.2% in the fourth 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 during the period. Allspring Global Investments Holdings LLC lifted its stake in Okta by 138.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock valued at $43,721,000 after buying an additional 322,201 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in Okta by 232.0% in the third 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 during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Okta by 105.8% in the third 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 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 $89.34 on Wednesday. The stock has a 50 day moving average price of $88.84 and a 200 day moving average price of $82.52. 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 stock has a market capitalization of $15.31 billion, a PE ratio of -255.26, a price-to-earnings-growth ratio of 6.42 and a beta of 1.03.

Insider Activity at Okta

In other news, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction that occurred on Monday, December 30th. The stock was 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 directly owns 24,462 shares in the company, valued at approximately $1,969,191. The trade was a 9.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jacques Frederic Kerrest sold 131,426 shares of Okta stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $80.68, for a total value of $10,603,449.68. Following the transaction, the director now owns 1,622 shares of the company’s stock, valued at $130,862.96. This represents a 98.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 980,908 shares of company stock valued at $85,025,665. Insiders own 7.00% of the company’s stock.

Analysts Set New Price Targets

OKTA has been the topic of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $101.00 target price on shares of Okta in a research note on Wednesday, December 4th. JMP Securities reissued a “market perform” rating on shares of Okta in a research note on Wednesday, December 4th. Truist Financial restated a “hold” rating and issued a $92.00 price target (up from $80.00) on shares of Okta in a report on Wednesday, December 4th. Citigroup increased their price target on Okta from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Finally, Canaccord Genuity Group increased their price target on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $106.13.

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.