Schonfeld Strategic Advisors LLC Increases Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Schonfeld Strategic Advisors LLC lifted its holdings in Okta, Inc. (NASDAQ:OKTA) by 471.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 56,390 shares of the company’s stock after buying an additional 46,527 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in Okta were worth $4,444,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Paloma Partners Management Co increased its stake in shares of Okta by 1,619.3% in the 4th quarter. Paloma Partners Management Co now owns 224,053 shares of the company’s stock worth $17,655,000 after purchasing an additional 211,021 shares in the last quarter. Ion Asset Management Ltd. raised its stake in shares of Okta by 1,073.6% in the fourth quarter. Ion Asset Management Ltd. now owns 204,200 shares of the company’s stock worth $16,091,000 after buying an additional 186,800 shares during the period. AQR Capital Management LLC lifted its position in shares of Okta by 874.6% during the 4th quarter. AQR Capital Management LLC now owns 849,642 shares of the company’s stock valued at $66,952,000 after buying an additional 762,460 shares in the last quarter. Northern Trust Corp grew its stake in shares of Okta by 11.8% during the 4th quarter. Northern Trust Corp now owns 1,001,027 shares of the company’s stock valued at $78,881,000 after acquiring an additional 105,918 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Okta by 1.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company’s stock worth $620,000 after acquiring an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

OKTA has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price target on shares of Okta from $90.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday, March 4th. Stephens assumed coverage on Okta in a research report on Tuesday, April 1st. They issued an “equal weight” rating and a $127.00 price objective on the stock. KeyCorp increased their target price on Okta from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Scotiabank boosted their price target on Okta from $94.00 to $109.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 4th. Finally, Susquehanna increased their price objective on shares of Okta from $95.00 to $105.00 and gave the company a “neutral” 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $116.12.

Insider Buying and Selling

In other news, CRO Jonathan James Addison sold 7,005 shares of the firm’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $101.19, for a total value of $708,835.95. Following the sale, the executive now directly owns 19,067 shares in the company, valued at approximately $1,929,389.73. This trade represents a 26.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction on Wednesday, March 19th. The stock was 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. This represents a 34.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 222,192 shares of company stock valued at $22,952,256 over the last 90 days. Corporate insiders own 7.00% of the company’s stock.

Okta Trading Up 0.9 %

NASDAQ:OKTA opened at $112.90 on Friday. 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 firm has a 50-day simple moving average of $104.20 and a 200-day simple moving average of $90.56. Okta, Inc. has a one year low of $70.56 and a one year high of $118.07. The firm has a market cap of $19.60 billion, a P/E ratio of -322.57, a P/E/G ratio of 6.42 and a beta of 1.07.

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.