Greenwood Capital Associates LLC Makes New Investment in Okta, Inc. (NASDAQ:OKTA)

Greenwood Capital Associates LLC acquired a new stake in Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 2,653 shares of the company’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Paloma Partners Management Co acquired a new stake in Okta in the third quarter valued at $969,000. SG Americas Securities LLC raised its holdings in shares of Okta by 122.3% in the 3rd quarter. SG Americas Securities LLC now owns 17,021 shares of the company’s stock valued at $1,265,000 after purchasing an additional 9,364 shares during the period. Stifel Financial Corp lifted its stake in Okta by 56.1% in the 3rd quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock valued at $2,770,000 after purchasing an additional 13,387 shares during the last quarter. Nordea Investment Management AB lifted its stake in Okta by 1,150.2% in the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after purchasing an additional 382,190 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Okta by 105.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock worth $26,627,000 after purchasing an additional 184,107 shares during the period. 86.64% of the stock is owned by institutional investors.

Okta Trading Up 1.3 %

Okta stock opened at $94.41 on Wednesday. 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 52 week low of $70.56 and a 52 week high of $114.50. The stock has a fifty day moving average of $84.76 and a 200-day moving average of $81.97.

Insiders Place Their Bets

In related news, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction that occurred 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 sale, the insider now directly owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. The trade was a 9.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the transaction, the director now owns 1,622 shares of the company’s stock, valued at approximately $130,862.96. This represents a 98.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 913,168 shares of company stock valued at $78,420,769. 7.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

OKTA has been the topic of several research analyst reports. Piper Sandler upped their price objective on Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Scotiabank dropped their price target on Okta from $96.00 to $94.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. Citigroup lifted their price objective 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. Truist Financial reissued a “hold” rating and issued a $92.00 price objective (up from $80.00) on shares of Okta in a research report on Wednesday, December 4th. Finally, Mizuho reduced their target price on shares of Okta from $104.00 to $92.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $104.55.

Okta 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.