Okta, Inc. (NASDAQ:OKTA) Shares Acquired by Comerica Bank

Comerica Bank increased its holdings in Okta, Inc. (NASDAQ:OKTA) by 11,019.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 177,358 shares of the company’s stock after acquiring an additional 175,763 shares during the quarter. Comerica Bank’s holdings in Okta were worth $13,976,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Utah Retirement Systems raised its holdings in shares of Okta by 1.8% in the fourth quarter. Utah Retirement Systems now owns 28,442 shares of the company’s stock valued at $2,241,000 after buying an additional 500 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its stake in Okta by 471.7% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 56,390 shares of the company’s stock valued at $4,444,000 after acquiring an additional 46,527 shares during the last quarter. Paloma Partners Management Co lifted its position in Okta by 1,619.3% during the 4th quarter. Paloma Partners Management Co now owns 224,053 shares of the company’s stock worth $17,655,000 after acquiring an additional 211,021 shares during the period. Ion Asset Management Ltd. grew its stake in shares of Okta by 1,073.6% in the 4th quarter. Ion Asset Management Ltd. now owns 204,200 shares of the company’s stock valued at $16,091,000 after purchasing an additional 186,800 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Okta by 874.6% in the fourth quarter. AQR Capital Management LLC now owns 849,642 shares of the company’s stock valued at $66,952,000 after purchasing an additional 762,460 shares during the period. Hedge funds and other 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 firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,159,178.75. This trade represents a 11.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jonathan James Addison sold 7,005 shares of the company’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $101.19, for a total transaction of $708,835.95. Following the transaction, the executive now directly owns 19,067 shares of the company’s stock, valued at approximately $1,929,389.73. This represents a 26.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 222,192 shares of company stock valued at $22,952,256 over the last quarter. Company insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Stifel Nicolaus increased their price target on Okta from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Stephens initiated coverage on shares of Okta in a research note on Tuesday, April 1st. They set an “equal weight” rating and a $127.00 price target on the stock. Westpark Capital restated a “buy” rating and issued a $140.00 price objective on shares of Okta in a research report on Friday, February 28th. Robert W. Baird boosted their target price on Okta from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Finally, Scotiabank raised their price target on Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $116.12.

Okta Stock Down 0.3 %

OKTA stock opened at $111.86 on Friday. The company has a 50 day moving average price of $103.73 and a two-hundred day moving average price of $90.32. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $19.42 billion, a P/E ratio of -319.60, a PEG ratio of 6.42 and a beta of 1.07. Okta, Inc. has a one year low of $70.56 and a one year high of $118.07.

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.