Banco Bilbao Vizcaya Argentaria S.A. Boosts Stock Position in Okta, Inc. (NASDAQ:OKTA)

Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 85.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,588 shares of the company’s stock after buying an additional 5,339 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Okta were worth $922,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. purchased a new stake in Okta in the fourth quarter worth approximately $27,580,000. Symmetry Investments LP bought a new position in shares of Okta during the 4th quarter valued at $1,355,000. Pinebridge Investments L.P. boosted its stake in shares of Okta by 5.1% in the 4th quarter. Pinebridge Investments L.P. now owns 189,366 shares of the company’s stock worth $14,922,000 after buying an additional 9,144 shares during the last quarter. Altrinsic Global Advisors LLC bought a new stake in shares of Okta in the fourth quarter worth $2,960,000. Finally, Stifel Financial Corp increased its position in Okta by 86.3% during the fourth quarter. Stifel Financial Corp now owns 69,426 shares of the company’s stock valued at $5,471,000 after acquiring an additional 32,168 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

Okta Trading Up 1.8 %

NASDAQ OKTA opened at $103.38 on Monday. The company’s fifty day simple moving average is $102.42 and its 200-day simple moving average is $89.58. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $118.07. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The stock has a market cap of $17.95 billion, a P/E ratio of -295.37, a PEG ratio of 6.42 and a beta of 1.07.

Analysts Set New Price Targets

A number of research firms recently issued reports on OKTA. Oppenheimer raised their price objective on shares of Okta from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Roth Capital initiated coverage on shares of Okta in a research report on Wednesday, April 23rd. They set a “buy” rating and a $119.00 price objective for the company. Morgan Stanley decreased their target price on Okta from $125.00 to $123.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Scotiabank boosted their price target on Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a report on Tuesday, March 4th. Finally, Canaccord Genuity Group raised their price objective on Okta from $94.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $116.12.

Insider Activity at Okta

In related news, insider Larissa Schwartz sold 2,740 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $97.59, for a total transaction of $267,396.60. Following the sale, the insider now owns 22,125 shares in the company, valued at $2,159,178.75. This represents a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $94.56, for a total value of $472,800.00. Following the completion of the transaction, the chief financial officer now owns 102,533 shares of the company’s stock, valued at approximately $9,695,520.48. The trade was a 4.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 362,192 shares of company stock valued at $35,988,856 over the last ninety days. Corporate insiders own 7.00% of the company’s stock.

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.