Kazazian Asset Management LLC Makes New $236,000 Investment in Okta, Inc. (NASDAQ:OKTA)

Kazazian Asset Management LLC purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, Holdings Channel reports. The firm purchased 3,000 shares of the company’s stock, valued at approximately $236,000.

Several other hedge funds also recently bought and sold shares of the stock. Frank Rimerman Advisors LLC increased its position in Okta by 2.4% during the fourth quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock worth $352,000 after buying an additional 105 shares in the last quarter. Stephens Inc. AR increased its position in Okta by 5.0% during the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock worth $260,000 after buying an additional 157 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Okta by 2.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock worth $605,000 after buying an additional 180 shares in the last quarter. Great Lakes Advisors LLC boosted its holdings in shares of Okta by 2.7% during the fourth quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company’s stock worth $557,000 after purchasing an additional 184 shares during the last quarter. Finally, CHICAGO TRUST Co NA boosted its holdings in shares of Okta by 6.5% during the fourth quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock worth $246,000 after purchasing an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Stock Down 2.4 %

Shares of NASDAQ OKTA opened at $112.92 on Wednesday. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $116.96. The firm has a market cap of $19.60 billion, a price-to-earnings ratio of -322.63, a PEG ratio of 6.42 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock’s 50-day simple moving average is $95.78 and its 200-day simple moving average is $83.66.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. BMO Capital Markets raised their price objective on Okta from $105.00 to $130.00 and gave the stock a “market perform” rating in a report on Monday, March 10th. Canaccord Genuity Group raised their price objective on Okta from $94.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. Scotiabank raised their price objective on Okta from $94.00 to $109.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 4th. Westpark Capital restated a “buy” rating and set a $140.00 price objective on shares of Okta in a report on Friday, February 28th. Finally, The Goldman Sachs Group raised their price objective on Okta from $107.00 to $123.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.29.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $80.50, for a total value of $217,672.00. Following the completion of the sale, the insider now directly owns 24,462 shares of the company’s stock, valued at $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd Mckinnon sold 233,028 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 985,377 shares of company stock valued at $88,742,772. 7.00% of the stock is currently owned by insiders.

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.