Stifel Financial Corp Grows Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Stifel Financial Corp boosted its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 86.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 69,426 shares of the company’s stock after buying an additional 32,168 shares during the quarter. Stifel Financial Corp’s holdings in Okta were worth $5,471,000 as of its most recent filing with the Securities and Exchange Commission.

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

Okta Price Performance

Okta stock opened at $112.54 on Wednesday. The firm has a fifty day moving average of $102.92 and a 200-day moving average of $89.93. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $118.07. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $19.54 billion, a P/E ratio of -321.54, a PEG ratio of 6.42 and a beta of 1.07.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on OKTA shares. Stephens assumed coverage on shares of Okta in a research report on Tuesday, April 1st. They set an “equal weight” rating and a $127.00 target price for the company. Wells Fargo & Company lifted their price objective on Okta from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Jefferies Financial Group increased their target price on Okta from $90.00 to $110.00 and gave the company a “hold” rating in a report on Tuesday, March 4th. Robert W. Baird boosted their price target on Okta from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Finally, The Goldman Sachs Group upped their price objective on Okta from $107.00 to $123.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Okta has a consensus rating of “Moderate Buy” and an average price target of $116.12.

Insider Buying and Selling

In other Okta news, CFO Brett Tighe sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $94.76, for a total value of $473,800.00. Following the completion of the transaction, the chief financial officer now owns 97,533 shares in the company, valued at $9,242,227.08. This represents a 4.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larissa Schwartz sold 2,740 shares of Okta stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $97.59, for a total transaction of $267,396.60. Following the sale, the insider now owns 22,125 shares in the company, valued at $2,159,178.75. This represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 227,192 shares of company stock valued at $23,426,056. Company insiders own 7.00% of the company’s stock.

About Okta

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.