WINTON GROUP Ltd Invests $2.24 Million in Okta, Inc. (NASDAQ:OKTA)

WINTON GROUP Ltd acquired a new stake in Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 28,478 shares of the company’s stock, valued at approximately $2,244,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. purchased a new position in Okta during the 3rd quarter valued at about $25,000. Bank of Jackson Hole Trust purchased a new position in Okta during the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new position in Okta in the third quarter worth approximately $32,000. TD Private Client Wealth LLC lifted its holdings in Okta by 3,507.7% during the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock worth $37,000 after buying an additional 456 shares during the period. Finally, Modus Advisors LLC bought a new stake in Okta during the 4th quarter valued at $44,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OKTA has been the subject of a number of analyst reports. Barclays upped their price objective on Okta from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Guggenheim reissued a “buy” rating and set a $130.00 price target on shares of Okta in a research report on Wednesday, December 4th. Westpark Capital reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Okta in a research report on Friday, February 28th. Robert W. Baird boosted their price objective on shares of Okta from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. Finally, Citigroup raised their target price on shares of Okta from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.29.

Insiders Place Their Bets

In other Okta news, insider Eric Robert Kelleher sold 5,895 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $113.75, for a total transaction of $670,556.25. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the transaction, the insider now directly owns 24,462 shares in the company, valued at approximately $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 763,901 shares of company stock worth $70,880,205. 7.00% of the stock is owned by corporate insiders.

Okta Trading Down 2.5 %

OKTA stock opened at $111.20 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $118.07. The company’s 50-day simple moving average is $99.92 and its 200-day simple moving average is $85.43. The firm has a market cap of $19.30 billion, a P/E ratio of -317.71, a PEG ratio of 6.42 and a beta of 1.09.

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.