Sender Co & Partners Inc. Takes Position in Okta, Inc. (NASDAQ:OKTA)

Sender Co & Partners Inc. purchased a new stake in Okta, Inc. (NASDAQ:OKTA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,250 shares of the company’s stock, valued at approximately $335,000.

Several other hedge funds and other institutional investors also recently modified their holdings of OKTA. Norges Bank acquired a new position in Okta in the 4th quarter worth about $234,992,000. Ameriprise Financial Inc. grew its holdings in shares of Okta by 2,135.7% during the fourth 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. Alyeska Investment Group L.P. increased its stake in shares of Okta by 2,309.4% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company’s stock valued at $139,693,000 after buying an additional 1,699,176 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Okta by 236.8% in the fourth quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company’s stock valued at $176,271,000 after buying an additional 1,572,786 shares during the period. Finally, Marshall Wace LLP raised its holdings in Okta by 35.5% in the 4th quarter. Marshall Wace LLP now owns 3,583,937 shares of the company’s stock valued at $282,414,000 after buying an additional 938,509 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Insiders Place Their Bets

In other Okta news, insider Eric Robert Kelleher sold 5,895 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 9,828 shares in the company, valued at approximately $1,117,935. This represents a 37.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total value of $13,650,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 154,452 shares of company stock worth $16,347,360. Corporate insiders own 7.00% of the company’s stock.

Okta Stock Up 2.3%

Shares of NASDAQ:OKTA opened at $127.30 on Friday. The business’s 50 day simple moving average is $108.15 and its two-hundred day simple moving average is $93.85. The firm has a market cap of $22.10 billion, a P/E ratio of -363.71, a PEG ratio of 6.42 and a beta of 0.96. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $127.57.

Wall Street Analysts Forecast Growth

OKTA has been the topic of several recent research reports. Jefferies Financial Group lifted their target price 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. Barclays lifted their price target on shares of Okta from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Truist Financial boosted their price objective on shares of Okta from $92.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. Morgan Stanley decreased their price objective on Okta from $125.00 to $123.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, Robert W. Baird raised 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. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.74.

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.