BlackRock Inc. raised its holdings in shares of Okta Inc (NASDAQ:OKTA) by 16.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,402,670 shares of the company’s stock after acquiring an additional 618,835 shares during the quarter. BlackRock Inc.’s holdings in Okta were worth $280,891,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Intercontinental Wealth Advisors LLC bought a new stake in Okta during the fourth quarter valued at about $55,000. Winslow Evans & Crocker Inc. bought a new stake in Okta during the fourth quarter valued at about $56,000. Penserra Capital Management LLC bought a new stake in Okta during the fourth quarter valued at about $81,000. Capital Investment Advisory Services LLC bought a new stake in Okta during the fourth quarter valued at about $99,000. Finally, Quantamental Technologies LLC bought a new stake in Okta during the fourth quarter valued at about $108,000. 66.04% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:OKTA opened at $82.88 on Friday. Okta Inc has a 1 year low of $37.21 and a 1 year high of $87.72. The company has a market cap of $8.89 billion, a price-to-earnings ratio of -80.47 and a beta of 1.20. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 1.09.
OKTA has been the topic of several research reports. Zacks Investment Research cut Okta from a “buy” rating to a “hold” rating in a report on Thursday. Piper Jaffray Companies lifted their target price on Okta to $89.00 and gave the stock an “overweight” rating in a report on Friday, March 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $96.00 target price (up from $75.00) on shares of Okta in a report on Friday, March 8th. JMP Securities reaffirmed a “hold” rating on shares of Okta in a report on Monday. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $85.00 target price (up from $75.00) on shares of Okta in a report on Friday, March 8th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Okta presently has a consensus rating of “Buy” and an average target price of $79.82.
In other Okta news, CFO William E. Losch sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 17th. The stock was sold at an average price of $62.07, for a total transaction of $1,241,400.00. Following the completion of the transaction, the chief financial officer now owns 20,000 shares in the company, valued at $1,241,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Benjamin A. Horowitz sold 98,242 shares of the business’s stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $71.76, for a total value of $7,049,845.92. Following the transaction, the director now owns 11,765 shares of the company’s stock, valued at approximately $844,256.40. The disclosure for this sale can be found here. Insiders have sold 418,077 shares of company stock valued at $31,659,652 in the last 90 days. Company insiders own 20.59% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This piece of content was first posted by Ticker Report and is the property of of Ticker Report. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of international copyright laws. The original version of this piece of content can be accessed at https://www.tickerreport.com/banking-finance/4222384/okta-inc-okta-holdings-raised-by-blackrock-inc.html.
Okta Company Profile
Okta, Inc provides identity solutions 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; 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; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for Web and mobile applications, and data of organization; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; and Mobility Management, which simplifies and automates mobile device administration and provisioning across phones, tablets, and laptops.
Further Reading: How does new data get added to a blockchain?
Want to see what other hedge funds are holding OKTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Okta Inc (NASDAQ:OKTA).
Receive News & Ratings for Okta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta and related companies with MarketBeat.com's FREE daily email newsletter.