ORG Partners LLC Raises Position in Okta, Inc. (NASDAQ:OKTA)

ORG Partners LLC grew its position in shares of Okta, Inc. (NASDAQ:OKTA) by 74.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,900 shares of the company’s stock after acquiring an additional 4,221 shares during the period. ORG Partners LLC’s holdings in Okta were worth $780,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Caprock Group LLC grew its stake in Okta by 4.7% in the second quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock worth $267,000 after purchasing an additional 129 shares during the period. National Bank of Canada FI increased its stake in shares of Okta by 11.0% in the 2nd quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock worth $124,000 after acquiring an additional 130 shares in the last quarter. Bleakley Financial Group LLC lifted its position in Okta by 4.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock valued at $306,000 after acquiring an additional 182 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in Okta by 12.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock worth $127,000 after acquiring an additional 188 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares during the period. Institutional investors own 86.64% of the company’s stock.

Insider Activity

In other news, Director Jacques Frederic Kerrest sold 131,426 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the completion of the transaction, the director now directly owns 1,622 shares in the company, valued at approximately $130,862.96. This represents a 98.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd Mckinnon sold 224,533 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $74.62, for a total transaction of $16,754,652.46. The disclosure for this sale can be found here. Insiders sold a total of 607,129 shares of company stock worth $47,937,652 over the last 90 days. Corporate insiders own 7.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. JMP Securities restated a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. Susquehanna boosted their target price on shares of Okta from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Truist Financial reaffirmed a “hold” rating and issued a $92.00 price objective (up previously from $80.00) on shares of Okta in a report on Wednesday, December 4th. Sanford C. Bernstein lowered their target price on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a report on Tuesday, December 17th. Finally, Citigroup boosted their price target on Okta from $90.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $104.45.

Okta Stock Performance

OKTA opened at $84.37 on Friday. The stock has a market capitalization of $14.46 billion, a price-to-earnings ratio of -241.06, a PEG ratio of 8.61 and a beta of 1.00. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two 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 fifty day moving average of $79.91 and a 200 day moving average of $82.75.

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.