EntryPoint Capital LLC Has $492,000 Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

EntryPoint Capital LLC boosted its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 94.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,245 shares of the company’s stock after acquiring an additional 3,027 shares during the quarter. EntryPoint Capital LLC’s holdings in Okta were worth $492,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Prudential Financial Inc. boosted its position in Okta by 26.2% in the 4th quarter. Prudential Financial Inc. now owns 10,200 shares of the company’s stock valued at $751,000 after buying an additional 2,115 shares during the last quarter. Fox Run Management L.L.C. boosted its holdings in Okta by 300.7% in the fourth quarter. Fox Run Management L.L.C. now owns 22,517 shares of the company’s stock valued at $1,774,000 after acquiring an additional 16,897 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Okta in the fourth quarter worth about $8,109,000. TD Private Client Wealth LLC increased its position in Okta by 3,507.7% in the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock worth $37,000 after purchasing an additional 456 shares during the period. Finally, iA Global Asset Management Inc. bought a new stake in Okta during the 4th quarter worth about $5,375,000. 86.64% of the stock is owned by institutional investors.

Okta Stock Performance

Shares of OKTA stock opened at $116.72 on Wednesday. The company has a fifty day moving average price of $98.81 and a two-hundred day moving average price of $85.04. Okta, Inc. has a one year low of $70.56 and a one year high of $118.07. The stock has a market cap of $20.26 billion, a P/E ratio of -333.49, a P/E/G ratio of 6.42 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

Wall Street Analyst Weigh In

OKTA has been the subject of a number of recent research reports. Barclays boosted their price target on shares of Okta from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Oppenheimer increased their target price on Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Piper Sandler boosted their target price on Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. KeyCorp increased their price target on shares of Okta from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada boosted their price objective on shares of Okta from $115.00 to $120.00 and gave the company an “outperform” 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 given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.29.

Insider Activity

In other news, Director Jacques Frederic Kerrest sold 3,306 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total value of $293,738.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $80.50, for a total transaction of $217,672.00. Following 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 763,901 shares of company stock valued at $70,880,205. 7.00% of the stock is owned by company 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.