664,156 Shares in Okta, Inc. (NASDAQ:OKTA) Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 664,156 shares of the company’s stock, valued at approximately $49,373,000.

Other hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Okta during the third quarter worth $25,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Okta during the third quarter worth $26,000. Blue Trust Inc. lifted its holdings in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after purchasing an additional 142 shares during the period. Finally, First Command Advisory Services Inc. acquired a new stake in shares of Okta during the second quarter worth $47,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Stock Performance

OKTA opened at $86.11 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. The business has a 50-day moving average of $75.15 and a two-hundred day moving average of $84.27. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $114.50.

Insider Buying and Selling at Okta

In other news, insider Larissa Schwartz sold 2,791 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $71.50, for a total transaction of $199,556.50. Following the completion of the sale, the insider now owns 22,125 shares in the company, valued at approximately $1,581,937.50. The trade was a 11.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd Mckinnon sold 200,512 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.21, for a total value of $15,080,507.52. Following the sale, the chief executive officer now owns 8,495 shares of the company’s stock, valued at $638,908.95. The trade was a 95.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 607,215 shares of company stock worth $46,304,810 in the last 90 days. 7.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citigroup raised their target price on Okta from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft downgraded Okta from a “buy” rating to a “hold” rating and reduced their target price for the company from $115.00 to $85.00 in a report on Tuesday, November 12th. BMO Capital Markets raised their target price on Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a report on Wednesday. Guggenheim reissued a “buy” rating and issued a $130.00 target price on shares of Okta in a report on Wednesday. Finally, Scotiabank raised their target price on Okta from $92.00 to $96.00 and gave the company a “sector perform” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $103.07.

Okta 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.