University of Texas Texas AM Investment Management Co. Invests $40,000 in Okta, Inc. (NASDAQ:OKTA)

University of Texas Texas AM Investment Management Co. acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 505 shares of the company’s stock, valued at approximately $40,000.

Several other institutional investors have also modified their holdings of the company. Marshall Wace LLP lifted its position in shares of Okta by 35.5% during the 4th quarter. Marshall Wace LLP now owns 3,583,937 shares of the company’s stock worth $282,414,000 after purchasing an additional 938,509 shares during the last quarter. Norges Bank purchased a new stake in shares of Okta during the 4th quarter worth $234,992,000. Geode Capital Management LLC lifted its position in shares of Okta by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company’s stock worth $212,385,000 after purchasing an additional 135,110 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Okta by 236.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company’s stock worth $176,271,000 after purchasing an additional 1,572,786 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Okta by 2,135.7% during the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company’s stock worth $150,845,000 after purchasing an additional 1,828,630 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Trading Down 0.2%

Shares of Okta stock opened at $123.72 on Friday. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $127.57. 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 company’s 50-day simple moving average is $109.45 and its 200-day simple moving average is $95.62. The firm has a market cap of $21.48 billion, a price-to-earnings ratio of -353.49, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96.

Insider Transactions at Okta

In other Okta news, insider Larissa Schwartz sold 11,552 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the transaction, the insider now directly owns 22,125 shares in the company, valued at approximately $2,524,241.25. This represents a 34.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total transaction of $13,650,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 154,452 shares of company stock worth $16,347,360 over the last ninety days. 5.68% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on OKTA. Citigroup boosted their price target on shares of Okta from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Wells Fargo & Company boosted their price target on shares of Okta from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. BTIG Research reissued a “buy” rating on shares of Okta in a research report on Thursday. Truist Financial boosted their price target on shares of Okta from $92.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group boosted their price target on shares of Okta from $107.00 to $123.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and two have issued 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 $120.17.

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.