Washington Harbour Partners LP Has $2.66 Million Stake in Okta, Inc. (NASDAQ:OKTA)

Washington Harbour Partners LP boosted its position in Okta, Inc. (NASDAQ:OKTA) by 19.4% in the third quarter, HoldingsChannel.com reports. The firm owned 35,760 shares of the company’s stock after acquiring an additional 5,800 shares during the period. Okta accounts for approximately 4.8% of Washington Harbour Partners LP’s investment portfolio, making the stock its 8th biggest holding. Washington Harbour Partners LP’s holdings in Okta were worth $2,658,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Weiss Asset Management LP purchased a new stake in shares of Okta during the third quarter worth about $3,486,000. Stifel Financial Corp grew its stake in shares of Okta by 56.1% during the third quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock worth $2,770,000 after acquiring an additional 13,387 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of Okta by 126.0% during the third quarter. Quantinno Capital Management LP now owns 224,360 shares of the company’s stock worth $16,679,000 after acquiring an additional 125,074 shares during the last quarter. Quarry LP grew its stake in shares of Okta by 206.3% during the third quarter. Quarry LP now owns 1,210 shares of the company’s stock worth $90,000 after acquiring an additional 815 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its stake in shares of Okta by 2.3% during the third quarter. Royal London Asset Management Ltd. now owns 63,353 shares of the company’s stock worth $4,710,000 after acquiring an additional 1,415 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors.

Insider Activity at Okta

In other Okta news, CEO Todd Mckinnon sold 224,533 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $74.62, for a total value of $16,754,652.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larissa Schwartz sold 2,790 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.01, for a total value of $206,487.90. Following the completion of the sale, the insider now directly owns 27,713 shares of the company’s stock, valued at $2,051,039.13. This trade represents a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 607,215 shares of company stock valued at $46,304,810. 7.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

OKTA has been the topic of a number of research analyst reports. Barclays boosted their price target on Okta from $81.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Wednesday. UBS Group dropped their target price on Okta from $120.00 to $108.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Needham & Company LLC upped their target price on Okta from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday. DA Davidson upped their target price on Okta from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Jefferies Financial Group upped their target price on Okta from $85.00 to $100.00 and gave the company a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $103.77.

Okta Trading Down 3.0 %

Shares of OKTA stock opened at $83.51 on Friday. The stock has a 50 day simple moving average of $75.56 and a 200-day simple moving average of $84.28. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $114.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. The company has a market cap of $14.19 billion, a price-to-earnings ratio of -238.60, a PEG ratio of 20.94 and a beta of 1.00.

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.