Okta, Inc. (NASDAQ:OKTA) is Barton Investment Management’s 8th Largest Position

Barton Investment Management cut its stake in Okta, Inc. (NASDAQ:OKTA) by 7.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 260,744 shares of the company’s stock after selling 21,894 shares during the period. Okta accounts for about 2.2% of Barton Investment Management’s portfolio, making the stock its 8th largest position. Barton Investment Management owned about 0.15% of Okta worth $20,547,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Okta in the third quarter valued at about $25,000. Future Financial Wealth Managment LLC purchased a new position in shares of Okta in the third quarter valued at approximately $26,000. Blue Trust Inc. increased its position 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 acquiring an additional 191 shares during the period. Legacy Investment Solutions LLC acquired a new stake in shares of Okta in the third quarter valued at $32,000. Finally, Modus Advisors LLC purchased a new position in Okta in the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Transactions at Okta

In other news, CEO Todd Mckinnon sold 233,028 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $82.31, for a total transaction of $19,180,534.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jacques Frederic Kerrest sold 390,000 shares of Okta stock in a transaction dated Thursday, January 23rd. The shares were 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 913,168 shares of company stock valued at $78,420,769 in the last ninety days. Corporate insiders own 7.00% of the company’s stock.

Okta Price Performance

OKTA opened at $97.45 on Thursday. The business has a 50 day simple moving average of $85.18 and a 200-day simple moving average of $82.08. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $114.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Stifel Nicolaus increased their price target on Okta from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Barclays boosted their price target on shares of Okta from $81.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. DA Davidson raised their price objective on shares of Okta from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. JMP Securities reissued a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their price target on Okta from $97.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Okta has an average rating of “Hold” and an average target price of $104.55.

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.