Johnson Financial Group Inc. Purchases Shares of 771 Okta, Inc. (NASDAQ:OKTA)

Johnson Financial Group Inc. purchased a new stake in Okta, Inc. (NASDAQ:OKTA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 771 shares of the company’s stock, valued at approximately $61,000.

Other institutional investors also recently modified their holdings of the company. Bank of Jackson Hole Trust bought a new position in shares of Okta in the fourth quarter valued at $25,000. TD Private Client Wealth LLC increased its holdings in shares of Okta by 3,507.7% in the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock valued at $37,000 after buying an additional 456 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of Okta in the fourth quarter valued at $43,000. Wingate Wealth Advisors Inc. bought a new position in shares of Okta in the fourth quarter valued at $44,000. Finally, Modus Advisors LLC bought a new position in shares of Okta in the fourth quarter valued at $44,000. Institutional investors own 86.64% of the company’s stock.

Insider Activity

In other Okta news, insider Larissa Schwartz sold 2,740 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total value of $267,396.60. Following the sale, the insider now directly owns 22,125 shares in the company, valued at $2,159,178.75. This represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total value of $13,650,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 227,192 shares of company stock worth $23,426,056. Company insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OKTA. Royal Bank of Canada lifted their price objective on shares of Okta from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Canaccord Genuity Group upped their price target on Okta from $94.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, March 4th. Stifel Nicolaus raised their price objective on Okta from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Roth Capital began coverage on Okta in a research report on Wednesday, April 23rd. They set a “buy” rating and a $119.00 price objective for the company. Finally, Truist Financial raised their price objective on Okta from $92.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $116.12.

Okta Stock Up 1.4 %

Shares of OKTA stock opened at $104.79 on Tuesday. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $118.07. The firm has a market cap of $18.19 billion, a PE ratio of -299.40, a price-to-earnings-growth ratio of 6.42 and a beta of 1.07. The stock has a 50 day moving average of $102.57 and a 200-day moving average of $89.78. 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 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.