26,888 Shares in Okta, Inc. (NASDAQ:OKTA) Acquired by Diversify Advisory Services LLC

Diversify Advisory Services LLC bought a new stake in shares of Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 26,888 shares of the company’s stock, valued at approximately $2,269,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Itau Unibanco Holding S.A. purchased a new position in shares of Okta during the 3rd quarter worth $25,000. Future Financial Wealth Managment LLC bought a new position in Okta in the 3rd quarter worth $26,000. Blue Trust Inc. raised its holdings in Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares during the period. Legacy Investment Solutions LLC bought a new stake in Okta during the third quarter valued at about $32,000. Finally, Modus Advisors LLC purchased a new stake in Okta in the fourth quarter worth about $44,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on OKTA shares. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. Canaccord Genuity Group upped their price target on shares of Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Needham & Company LLC lifted their target price on shares of Okta from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Mizuho cut their price target on Okta from $104.00 to $92.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. upgraded Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price objective on the stock in a research report on Monday, December 16th. One equities research 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 MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $104.61.

Insider Activity at Okta

In other Okta news, CEO Todd Mckinnon sold 233,028 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were 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 SEC, which is available at the SEC website. 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 completion of the sale, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 369,949 shares of company stock worth $30,201,213. Company insiders own 7.00% of the company’s stock.

Okta Price Performance

Shares of OKTA stock opened at $87.29 on Monday. The company’s 50-day simple moving average is $81.05 and its two-hundred day simple moving average is $82.32. Okta, Inc. has a one year low of $70.56 and a one year high of $114.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

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.