Crossmark Global Holdings Inc. purchased a new position in Okta, Inc. (NASDAQ:OKTA) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 801 shares of the company’s stock, valued at approximately $204,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OKTA. Principal Financial Group Inc. raised its holdings in shares of Okta by 581.8% in the second quarter. Principal Financial Group Inc. now owns 19,274 shares of the company’s stock worth $3,859,000 after acquiring an additional 16,447 shares during the last quarter. Axel Capital Management LLC acquired a new position in shares of Okta in the third quarter worth $1,069,000. Washburn Capital Management Inc. raised its holdings in shares of Okta by 5.3% in the third quarter. Washburn Capital Management Inc. now owns 1,801 shares of the company’s stock worth $385,000 after acquiring an additional 90 shares during the last quarter. Meridian Wealth Management LLC raised its holdings in shares of Okta by 47.4% in the third quarter. Meridian Wealth Management LLC now owns 1,895 shares of the company’s stock worth $405,000 after acquiring an additional 609 shares during the last quarter. Finally, Symphony Financial Ltd. Co. acquired a new position in shares of Okta in the third quarter worth $245,000. 75.77% of the stock is owned by institutional investors.
Shares of NASDAQ OKTA opened at $251.33 on Thursday. Okta, Inc. has a 1-year low of $88.66 and a 1-year high of $287.35. The business has a 50-day moving average of $259.34 and a 200-day moving average of $228.07. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.80 and a quick ratio of 4.80. The company has a market capitalization of $32.54 billion, a price-to-earnings ratio of -130.22 and a beta of 0.99.
In related news, insider Charles Race sold 50,000 shares of the business’s stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $211.21, for a total value of $10,560,500.00. Following the transaction, the insider now owns 68,638 shares in the company, valued at $14,497,031.98. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Christopher K. Kramer sold 940 shares of the business’s stock in a transaction dated Friday, January 15th. The stock was sold at an average price of $260.99, for a total value of $245,330.60. Following the completion of the transaction, the chief accounting officer now owns 6,089 shares in the company, valued at approximately $1,589,168.11. The disclosure for this sale can be found here. Insiders sold 296,650 shares of company stock valued at $72,353,557 in the last ninety days. Company insiders own 12.02% of the company’s stock.
A number of equities analysts have recently weighed in on OKTA shares. KeyCorp boosted their price target on Okta from $282.00 to $313.00 in a report on Monday, December 21st. JPMorgan Chase & Co. lowered Okta from an “overweight” rating to a “neutral” rating and set a $258.00 target price for the company. in a research note on Wednesday, December 9th. Morgan Stanley upped their target price on Okta from $250.00 to $275.00 and gave the company an “equal weight” rating in a research note on Friday, January 8th. Mizuho upped their target price on Okta from $255.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, December 3rd. They noted that the move was a valuation call. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $255.00 target price on shares of Okta in a research note on Sunday, November 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. Okta presently has a consensus rating of “Buy” and an average price target of $243.80.
Okta Company Profile
Okta, Inc provides identity management platforms for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; and Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials.
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