Mission Wealth Management LP Acquires 375 Shares of Okta, Inc. (NASDAQ:OKTA)

Mission Wealth Management LP lifted its position in Okta, Inc. (NASDAQ:OKTA) by 9.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,383 shares of the company’s stock after buying an additional 375 shares during the period. Mission Wealth Management LP’s holdings in Okta were worth $345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Jackson Hole Trust purchased a new position in shares of Okta in the 4th quarter worth $25,000. Itau Unibanco Holding S.A. purchased a new position in shares of Okta in the 3rd quarter worth $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Okta in the 3rd quarter worth $32,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Okta in the 4th quarter worth $44,000. Finally, Modus Advisors LLC purchased a new position in shares of Okta in the 4th quarter worth $44,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Scotiabank raised their price target on Okta from $94.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Robert W. Baird lifted their target price on Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday. UBS Group lifted their target price on Okta from $108.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft downgraded Okta from a “buy” rating to a “hold” rating and lowered their target price for the company from $115.00 to $85.00 in a research report on Tuesday, November 12th. Finally, Oppenheimer lifted their target price on Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $113.10.

Insiders Place Their Bets

In other Okta news, CEO Todd Mckinnon sold 233,028 shares of the business’s 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $80.50, for a total value of $217,672.00. Following the sale, the insider now directly owns 24,462 shares in the company, valued at $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. Insiders have sold 849,482 shares of company stock valued at $74,422,216 over the last ninety days. 7.00% of the stock is owned by insiders.

Okta Trading Up 7.4 %

Shares of NASDAQ OKTA opened at $116.31 on Thursday. The business’s 50 day moving average is $89.88 and its two-hundred day moving average is $82.47. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $116.75. The stock has a market capitalization of $19.93 billion, a P/E ratio of -332.31, a PEG ratio of 6.42 and a beta of 1.09.

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.