Great Lakes Advisors LLC Has $557,000 Position in Okta, Inc. (NASDAQ:OKTA)

Great Lakes Advisors LLC grew its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,070 shares of the company’s stock after acquiring an additional 184 shares during the period. Great Lakes Advisors LLC’s holdings in Okta were worth $557,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Paloma Partners Management Co acquired a new stake in Okta during the 3rd quarter worth about $969,000. SBI Securities Co. Ltd. acquired a new stake in Okta during the 4th quarter worth about $1,686,000. Stifel Financial Corp grew its holdings in Okta by 56.1% during the 3rd quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock worth $2,770,000 after acquiring an additional 13,387 shares during the period. Nordea Investment Management AB grew its stake in shares of Okta by 1,150.2% in the 4th 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 period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Okta by 105.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock valued at $26,627,000 after buying an additional 184,107 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Todd Mckinnon sold 233,028 shares of Okta stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jacques Frederic Kerrest sold 130,000 shares of Okta stock in a transaction that occurred on Tuesday, March 4th. The shares were 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. In the last quarter, insiders have sold 979,482 shares of company stock valued at $88,072,216. 7.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

OKTA has been the subject of several research reports. Oppenheimer raised their target price on Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Barclays raised their target price on Okta from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Royal Bank of Canada raised their target price on Okta from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Scotiabank raised their target price on Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 4th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $130.00 price target on shares of Okta in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Okta has a consensus rating of “Moderate Buy” and a consensus price target of $114.39.

Okta Trading Up 5.6 %

NASDAQ:OKTA opened at $112.55 on Monday. 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 stock has a market capitalization of $19.29 billion, a PE ratio of -321.57, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. The firm’s 50 day moving average is $94.58 and its 200 day moving average is $83.17. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $116.96.

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.