Brown Brothers Harriman & Co. Invests $43,000 in Okta, Inc. (NASDAQ:OKTA)

Brown Brothers Harriman & Co. bought a new position in Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 548 shares of the company’s stock, valued at approximately $43,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its stake in shares of Okta by 3.3% in the third quarter. The Manufacturers Life Insurance Company now owns 7,737 shares of the company’s stock valued at $575,000 after buying an additional 250 shares during the period. Townsquare Capital LLC lifted its holdings in shares of Okta by 16.5% during the third quarter. Townsquare Capital LLC now owns 6,321 shares of the company’s stock valued at $470,000 after acquiring an additional 896 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in Okta by 2.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 58,105 shares of the company’s stock valued at $4,320,000 after purchasing an additional 1,441 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Okta in the third quarter valued at about $482,000. Finally, Atom Investors LP bought a new stake in Okta during the third quarter worth about $566,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Buying and Selling

In related news, Director Jacques Frederic Kerrest sold 3,306 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total value of $293,738.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $89.58, for a total value of $242,224.32. Following the sale, the insider now owns 23,311 shares of the company’s stock, valued at approximately $2,088,199.38. The trade was a 10.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 761,197 shares of company stock valued at $70,662,533 over the last 90 days. 7.00% of the stock is owned by insiders.

Okta Stock Performance

Okta stock opened at $105.38 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $118.07. The business has a 50 day moving average of $101.33 and a 200-day moving average of $86.45. The company has a market capitalization of $18.29 billion, a P/E ratio of -301.09, a P/E/G ratio of 6.42 and a beta of 1.09.

Wall Street Analysts Forecast Growth

OKTA has been the subject of several research reports. The Goldman Sachs Group raised their price objective on shares of Okta from $107.00 to $123.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Needham & Company LLC reissued a “buy” rating and issued a $115.00 target price on shares of Okta in a research note on Tuesday, March 4th. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a research note on Wednesday, December 4th. Cantor Fitzgerald assumed coverage on shares of Okta in a research report on Monday. They set an “overweight” rating and a $130.00 target price on the stock. Finally, Oppenheimer lifted their price target on shares of Okta from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $116.09.

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.