Smith Group Asset Management LLC Boosts Holdings in Okta, Inc. (NASDAQ:OKTA)

Smith Group Asset Management LLC boosted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 57.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 221,401 shares of the company’s stock after buying an additional 80,969 shares during the quarter. Smith Group Asset Management LLC owned approximately 0.13% of Okta worth $17,446,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. purchased a new position in Okta during the third quarter valued at $25,000. Future Financial Wealth Managment LLC purchased a new position in shares of Okta during the third quarter valued at approximately $26,000. Blue Trust Inc. lifted its holdings in shares of Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after buying an additional 191 shares during the period. Legacy Investment Solutions LLC purchased a new stake in shares of Okta during the 3rd quarter valued at about $32,000. Finally, Modus Advisors LLC purchased a new position in Okta during the fourth quarter valued at $44,000. Institutional investors own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

OKTA has been the topic of a number of research analyst reports. Morgan Stanley upgraded Okta from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $92.00 to $97.00 in a research report on Monday, December 2nd. Needham & Company LLC upped their target price on Okta from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. JMP Securities reissued a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. Citigroup boosted their target price on shares of Okta from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Finally, Westpark Capital reaffirmed a “buy” rating and set a $140.00 target price on shares of Okta in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Okta currently has a consensus rating of “Hold” and an average price target of $104.55.

Okta Stock Performance

NASDAQ OKTA opened at $94.93 on Wednesday. The company has a 50-day moving average of $82.95 and a 200-day moving average of $82.06. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $114.50. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Insider Transactions at Okta

In related news, CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $87.29, for a total transaction of $436,450.00. Following the sale, the chief financial officer now owns 107,533 shares of the company’s stock, valued at $9,386,555.57. The trade was a 4.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $87.09, for a total value of $33,965,100.00. The disclosure for this sale can be found here. Insiders sold a total of 775,959 shares of company stock worth $65,583,725 in the last ninety days. Insiders own 7.00% of the company’s stock.

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.