UBS Asset Management Americas Inc. boosted its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 19.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 479,795 shares of the company’s stock after buying an additional 77,846 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.37% of Okta worth $121,993,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Black Swift Group LLC acquired a new stake in shares of Okta in the fourth quarter valued at about $25,000. Addison Advisors LLC bought a new stake in Okta in the fourth quarter valued at approximately $25,000. Eudaimonia Partners LLC acquired a new stake in Okta during the 3rd quarter valued at approximately $28,000. International Assets Investment Management LLC bought a new position in Okta during the 4th quarter worth approximately $28,000. Finally, Arkadios Wealth Advisors acquired a new position in shares of Okta in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 75.77% of the company’s stock.
OKTA opened at $222.56 on Thursday. Okta, Inc. has a 1-year low of $125.34 and a 1-year high of $294.00. The company has a market cap of $29.20 billion, a price-to-earnings ratio of -115.32 and a beta of 0.99. The company’s fifty day moving average price is $237.37 and its two-hundred day moving average price is $242.69. The company has a current ratio of 4.80, a quick ratio of 4.80 and a debt-to-equity ratio of 2.51.
In other Okta news, insider Charles Race sold 50,000 shares of the company’s stock in a transaction dated Friday, January 8th. The shares were sold at an average price of $251.89, for a total value of $12,594,500.00. Following the completion of the sale, the insider now directly owns 81,559 shares of the company’s stock, valued at approximately $20,543,896.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael R. Kourey sold 20,000 shares of Okta stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $221.86, for a total transaction of $4,437,200.00. Following the transaction, the chief financial officer now directly owns 20,000 shares in the company, valued at approximately $4,437,200. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 169,208 shares of company stock worth $41,790,580. 12.02% of the stock is owned by insiders.
A number of brokerages recently weighed in on OKTA. TheStreet downgraded shares of Okta from a “c-” rating to a “d+” rating in a research note on Friday, March 19th. Mizuho lowered their price objective on Okta from $305.00 to $255.00 and set a “neutral” rating for the company in a research report on Wednesday, March 10th. DA Davidson boosted their price objective on Okta from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, March 4th. Piper Sandler decreased their target price on Okta from $250.00 to $235.00 and set a “neutral” rating for the company in a research note on Wednesday, March 10th. Finally, Canaccord Genuity raised Okta from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Wednesday, March 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $261.32.
Okta Company Profile
Okta, Inc provides identity management platform for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; and Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials.
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