Allstate Corp Invests $377,000 in Okta, Inc. (NASDAQ:OKTA)

Allstate Corp purchased a new stake in shares of Okta, Inc. (NASDAQ:OKTA) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 4,790 shares of the company’s stock, valued at approximately $377,000.

A number of other institutional investors also recently bought and sold shares of OKTA. Frank Rimerman Advisors LLC grew its holdings in shares of Okta by 2.4% during the 4th quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock worth $352,000 after acquiring an additional 105 shares during the period. Stephens Inc. AR grew its stake in Okta by 5.0% in the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock worth $260,000 after purchasing an additional 157 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Okta by 2.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock worth $605,000 after purchasing an additional 180 shares in the last quarter. Great Lakes Advisors LLC lifted its position in Okta by 2.7% during the fourth quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company’s stock valued at $557,000 after buying an additional 184 shares during the period. Finally, CHICAGO TRUST Co NA boosted its holdings in shares of Okta by 6.5% during the 4th quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock valued at $246,000 after buying an additional 191 shares in the last quarter. 86.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OKTA has been the subject of several research reports. Wells Fargo & Company increased their price target on shares of Okta from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Canaccord Genuity Group lifted their target price on shares of Okta from $82.00 to $94.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 price objective on shares of Okta in a research report on Tuesday, March 4th. Piper Sandler boosted their target price on Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group raised their price target on Okta from $107.00 to $123.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Okta currently has a consensus rating of “Moderate Buy” and an average target price of $116.09.

Okta Stock Performance

NASDAQ:OKTA opened at $105.38 on Thursday. The stock has a 50-day simple moving average of $101.33 and a two-hundred day simple moving average of $86.45. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $118.07. The firm has a market capitalization of $18.29 billion, a PE ratio of -301.09, a P/E/G ratio of 6.42 and a beta of 1.06.

Insider Activity at Okta

In other Okta news, CFO Brett Tighe sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total value of $445,000.00. Following the completion of the transaction, the chief financial officer now directly owns 112,533 shares in the company, valued at $10,015,437. This represents a 4.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $89.58, for a total transaction of $242,224.32. Following the completion of the sale, the insider now directly owns 23,311 shares of the company’s stock, valued at approximately $2,088,199.38. This trade represents a 10.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 761,197 shares of company stock worth $70,662,533. 7.00% of the stock is owned by company insiders.

Okta Company 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.