Okta, Inc. (NASDAQ:OKTA) Shares Purchased by Alliancebernstein L.P.

Alliancebernstein L.P. raised its position in Okta, Inc. (NASDAQ:OKTA) by 32.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,450 shares of the company’s stock after purchasing an additional 22,702 shares during the quarter. Alliancebernstein L.P. owned about 0.05% of Okta worth $7,364,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of OKTA. Bank of Jackson Hole Trust purchased a new stake in shares of Okta during the 4th quarter valued at approximately $25,000. TD Private Client Wealth LLC increased its stake in Okta by 3,507.7% during the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock worth $37,000 after acquiring an additional 456 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in Okta in the fourth quarter valued at $43,000. Modus Advisors LLC acquired a new position in shares of Okta in the 4th quarter valued at $44,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in shares of Okta during the 4th quarter worth $44,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Okta

In other news, insider Eric Robert Kelleher sold 5,895 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $113.75, for a total value of $670,556.25. Following the completion of the sale, the insider now directly owns 9,828 shares of the company’s stock, valued at approximately $1,117,935. This represents a 37.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the transaction, the insider now directly owns 22,125 shares in the company, valued at $2,524,241.25. The trade was a 34.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 761,197 shares of company stock valued at $70,662,533 in the last ninety days. Insiders own 7.00% of the company’s stock.

Okta Stock Performance

Shares of Okta stock opened at $101.82 on Friday. The firm has a market capitalization of $17.68 billion, a P/E ratio of -290.91, a P/E/G ratio of 6.42 and a beta of 1.07. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $118.07. The firm’s 50 day moving average is $102.15 and its two-hundred day moving average is $87.74.

Analyst Ratings Changes

A number of research analysts have commented on OKTA shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 target price on shares of Okta in a research report on Tuesday, March 4th. Morgan Stanley set a $125.00 price target on shares of Okta in a research note on Tuesday, March 18th. UBS Group set a $135.00 price objective on shares of Okta in a research report on Tuesday, March 4th. Jefferies Financial Group boosted their target price on Okta from $90.00 to $110.00 and gave the company a “hold” rating in a research report on Tuesday, March 4th. Finally, BMO Capital Markets upped their price target on Okta from $105.00 to $130.00 and gave the stock a “market perform” rating in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Okta has a consensus rating of “Moderate Buy” and an average price target of $116.09.

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.