Machina Capital S.A.S. Grows Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Machina Capital S.A.S. lifted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 19.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,739 shares of the company’s stock after acquiring an additional 786 shares during the quarter. Machina Capital S.A.S.’s holdings in Okta were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new position in shares of Okta in the 3rd quarter worth about $25,000. Bank of Jackson Hole Trust purchased a new stake in Okta during the 4th quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Okta during the third quarter valued at $32,000. Modus Advisors LLC bought a new position in Okta during the fourth quarter valued at approximately $44,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Okta during the 4th quarter valued at $44,000. 86.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Okta

In related news, CEO Todd Mckinnon sold 233,028 shares of Okta stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brett Tighe sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total transaction of $445,000.00. Following the sale, the chief financial officer now directly owns 112,533 shares in the company, valued at $10,015,437. This trade represents a 4.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 979,482 shares of company stock worth $88,072,216 over the last three months. Corporate insiders own 7.00% of the company’s stock.

Okta Price Performance

OKTA opened at $112.44 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $19.27 billion, a PE ratio of -321.26, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. The business’s 50-day moving average is $91.72 and its two-hundred day moving average is $82.90. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $116.96.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Piper Sandler raised their price objective on shares of Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. The Goldman Sachs Group increased their target price on Okta from $107.00 to $123.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Barclays lifted their price target on shares of Okta from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. KeyCorp upped their price objective on Okta from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Finally, Sanford C. Bernstein reduced their price objective on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $113.10.

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.