Okta, Inc. (NASDAQ:OKTA) Shares Bought by Quarry LP

Quarry LP lifted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 206.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,210 shares of the company’s stock after buying an additional 815 shares during the period. Quarry LP’s holdings in Okta were worth $90,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marshall Wace LLP lifted its holdings in Okta by 117.4% during the 2nd quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock worth $212,841,000 after buying an additional 1,227,890 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Okta during the 3rd quarter worth $49,373,000. Eminence Capital LP lifted its position in Okta by 18.1% in the second quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock valued at $186,225,000 after acquiring an additional 305,381 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Okta by 232.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock valued at $29,479,000 after purchasing an additional 277,084 shares during the period. Finally, Truist Financial Corp boosted its holdings in shares of Okta by 62.5% in the second quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after acquiring an additional 200,770 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Stock Performance

Shares of OKTA opened at $84.79 on Friday. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $114.50. The company’s 50 day simple moving average is $75.77 and its 200 day simple moving average is $84.04. The company has a market capitalization of $14.40 billion, a price-to-earnings ratio of -242.26, a PEG ratio of 22.07 and a beta of 1.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83.

Insider Buying and Selling at Okta

In other news, insider Larissa Schwartz sold 2,790 shares of Okta stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.01, for a total value of $206,487.90. Following the completion of the sale, the insider now owns 27,713 shares of the company’s stock, valued at $2,051,039.13. The trade was a 9.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Mckinnon sold 32,516 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $76.22, for a total value of $2,478,369.52. The disclosure for this sale can be found here. In the last three months, insiders sold 607,215 shares of company stock worth $46,304,810. Insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on OKTA. Susquehanna increased their price target on shares of Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. lowered their price target on Okta from $105.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, November 29th. Mizuho reduced their price objective on Okta from $104.00 to $92.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a research report on Wednesday. Finally, Canaccord Genuity Group boosted their target price on Okta from $82.00 to $94.00 and gave the company a “hold” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $103.77.

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.