GenTrust LLC Makes New $311,000 Investment in Okta, Inc. (NASDAQ:OKTA)

GenTrust LLC purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,945 shares of the company’s stock, valued at approximately $311,000.

Other large investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new position in shares of Okta in the third quarter worth approximately $25,000. Bank of Jackson Hole Trust bought a new position in shares of Okta in the fourth quarter worth approximately $25,000. Blue Trust Inc. grew its holdings in shares of Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in shares of Okta in the third quarter worth approximately $32,000. Finally, Modus Advisors LLC bought a new position in shares of Okta in the fourth quarter worth approximately $44,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Okta

In other Okta news, CFO Brett Tighe sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total value of $445,000.00. Following the completion of the transaction, the chief financial officer now owns 112,533 shares of the company’s stock, valued at approximately $10,015,437. The trade was a 4.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 2,740 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total value of $267,396.60. Following the completion of the transaction, the insider now directly owns 22,125 shares of the company’s stock, valued at approximately $2,159,178.75. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 980,908 shares of company stock valued at $85,025,665 in the last quarter. 7.00% of the stock is owned by insiders.

Okta Price Performance

OKTA opened at $89.58 on Thursday. The stock has a 50-day moving average price of $89.01 and a 200-day moving average price of $82.57. 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 cap of $15.35 billion, a PE ratio of -255.94, a P/E/G ratio of 6.42 and a beta of 1.03. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $114.50.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. JMP Securities restated a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. Piper Sandler raised their target price on shares of Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. BTIG Research raised their target price on shares of Okta from $98.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Susquehanna lifted their price target on shares of Okta from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Finally, Barclays lifted their price target on shares of Okta from $96.00 to $105.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Okta currently has a consensus rating of “Hold” and a consensus price target of $106.13.

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.