Okta, Inc. (NASDAQ:OKTA) Stock Holdings Boosted by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC lifted its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 5.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,649,906 shares of the company’s stock after acquiring an additional 81,170 shares during the quarter. Okta makes up about 1.7% of ArrowMark Colorado Holdings LLC’s investment portfolio, making the stock its 9th biggest position. ArrowMark Colorado Holdings LLC’s holdings in Okta were worth $130,013,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new position in Okta in the third quarter valued at $108,000. Tidal Investments LLC boosted its position in shares of Okta by 132.0% in the 3rd quarter. Tidal Investments LLC now owns 25,103 shares of the company’s stock valued at $1,866,000 after purchasing an additional 14,283 shares during the period. Modus Advisors LLC acquired a new stake in shares of Okta in the 4th quarter valued at about $44,000. Everence Capital Management Inc. acquired a new position in Okta during the fourth quarter worth approximately $355,000. Finally, Nordea Investment Management AB lifted its stake in Okta by 1,150.2% in the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after buying an additional 382,190 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Transactions at Okta

In other news, insider Eric Robert Kelleher sold 5,895 shares of Okta stock in a transaction 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 owns 9,828 shares of the company’s stock, valued at $1,117,935. The trade was a 37.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jonathan James Addison sold 7,005 shares of the stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $101.19, for a total value of $708,835.95. Following the transaction, the executive now owns 19,067 shares in the company, valued at $1,929,389.73. This trade represents a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 222,192 shares of company stock worth $22,952,256 over the last ninety days. 7.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. Stifel Nicolaus upped their price target on shares of Okta from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. UBS Group set a $135.00 target price on shares of Okta in a report on Tuesday, March 4th. Royal Bank of Canada upped their price objective on Okta from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. 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. Finally, Robert W. Baird boosted their price objective on shares of Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $116.12.

Okta Trading Up 0.9 %

Shares of OKTA stock opened at $112.90 on Friday. The company has a market capitalization of $19.60 billion, a price-to-earnings ratio of -322.57, a PEG ratio of 6.42 and a beta of 1.07. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $104.20 and a 200 day moving average price of $90.56. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $118.07.

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.