Okta, Inc. (NASDAQ:OKTA) Shares Acquired by Blue Zone Wealth Advisors LLC

Blue Zone Wealth Advisors LLC grew its position in Okta, Inc. (NASDAQ:OKTA) by 6.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,400 shares of the company’s stock after purchasing an additional 1,168 shares during the period. Blue Zone Wealth Advisors LLC’s holdings in Okta were worth $1,450,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Point72 Asset Management L.P. acquired a new stake in Okta during the third quarter worth about $49,373,000. Nordea Investment Management AB grew its holdings in Okta by 1,150.2% during the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock worth $33,146,000 after acquiring an additional 382,190 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Okta by 138.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock worth $43,721,000 after acquiring an additional 322,201 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Okta by 232.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock worth $29,479,000 after acquiring an additional 277,084 shares during the period. 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 acquiring an additional 184,107 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Jacques Frederic Kerrest sold 131,426 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 1,622 shares of the company’s stock, valued at $130,862.96. The trade was a 98.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Larissa Schwartz sold 2,740 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total value of $267,396.60. Following the transaction, the insider now directly owns 22,125 shares of the company’s stock, valued at $2,159,178.75. The trade was a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 980,908 shares of company stock valued at $85,025,665 in the last three months. 7.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

OKTA has been the topic of several analyst reports. Robert W. Baird raised their target price on Okta from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Wells Fargo & Company raised their price objective on Okta from $80.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. BMO Capital Markets raised their price objective on Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Westpark Capital reissued a “buy” rating and issued a $140.00 price objective on shares of Okta in a report on Wednesday, December 4th. Finally, Stifel Nicolaus raised their price objective on Okta from $108.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $105.45.

Okta Stock Down 4.0 %

Shares of NASDAQ OKTA opened at $96.29 on Friday. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $87.42 and a 200-day simple moving average of $82.26.

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.