Wahed Invest LLC Buys 499 Shares of Okta, Inc. (NASDAQ:OKTA)

Wahed Invest LLC lifted its holdings in Okta, Inc. (NASDAQ:OKTA) by 14.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,874 shares of the company’s stock after acquiring an additional 499 shares during the period. Wahed Invest LLC’s holdings in Okta were worth $288,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new position in shares of Okta in the third quarter worth about $25,000. Future Financial Wealth Managment LLC bought a new position in shares of Okta in the third quarter worth about $26,000. Blue Trust Inc. boosted its stake in shares of Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after acquiring an additional 191 shares during the period. First Command Advisory Services Inc. bought a new position in shares of Okta in the second quarter worth about $47,000. Finally, nVerses Capital LLC bought a new position in shares of Okta in the second quarter worth about $47,000. Institutional investors own 86.64% of the company’s stock.

Okta Trading Up 1.5 %

Shares of NASDAQ:OKTA opened at $84.79 on Friday. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $114.50. The business’s 50 day moving average is $75.77 and its 200 day moving average is $84.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on OKTA shares. Robert W. Baird upped their price objective on Okta from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. decreased their target price on Okta from $105.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, November 29th. Scotiabank boosted their target price on Okta from $92.00 to $96.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Barclays boosted their target price on Okta from $81.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, JMP Securities reiterated a “market perform” rating on shares of Okta in a research report on Wednesday. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Okta presently has an average rating of “Hold” and an average price target of $103.77.

Insider Buying and Selling

In other Okta news, CEO Todd Mckinnon sold 200,512 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the sale, the chief executive officer now owns 8,495 shares of the company’s stock, valued at approximately $638,908.95. This trade represents a 95.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 2,790 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.01, for a total value of $206,487.90. Following the sale, the insider now directly owns 27,713 shares in the company, valued at $2,051,039.13. This trade represents a 9.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 607,215 shares of company stock valued at $46,304,810 over the last quarter. 7.00% of the stock is owned by corporate insiders.

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.