Senvest Management LLC raised its holdings in Okta, Inc. (NASDAQ:OKTA – Free Report) by 54.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 830,515 shares of the company’s stock after acquiring an additional 292,900 shares during the quarter. Okta makes up about 2.2% of Senvest Management LLC’s portfolio, making the stock its 19th largest holding. Senvest Management LLC owned about 0.47% of Okta worth $65,370,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Robeco Institutional Asset Management B.V. boosted its position in Okta by 52.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company’s stock valued at $40,241,000 after acquiring an additional 161,069 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of Okta in the 4th quarter worth about $3,122,000. Swedbank AB raised its position in shares of Okta by 124.3% in the 4th quarter. Swedbank AB now owns 1,819,081 shares of the company’s stock worth $157,296,000 after acquiring an additional 1,007,915 shares in the last quarter. Diversify Wealth Management LLC acquired a new position in shares of Okta in the 1st quarter valued at about $2,077,000. Finally, Torque Asset Management LLC lifted its stake in shares of Okta by 40.5% in the 4th quarter. Torque Asset Management LLC now owns 289,141 shares of the company’s stock valued at $25,002,000 after purchasing an additional 83,337 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.
Okta Stock Performance
Shares of NASDAQ OKTA opened at $138.50 on Friday. The stock has a market cap of $24.07 billion, a price-to-earnings ratio of 100.36, a PEG ratio of 4.89 and a beta of 0.77. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $157.00. The firm’s 50-day simple moving average is $124.19 and its 200 day simple moving average is $95.95.
Insider Transactions at Okta
In related news, Director Shellye L. Archambeau sold 2,500 shares of Okta stock in a transaction on Monday, May 18th. The stock was sold at an average price of $85.00, for a total transaction of $212,500.00. Following the sale, the director directly owned 9,192 shares in the company, valued at approximately $781,320. This trade represents a 21.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 2,463 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $120.00, for a total value of $295,560.00. Following the completion of the transaction, the insider directly owned 25,241 shares in the company, valued at approximately $3,028,920. This represents a 8.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 174,224 shares of company stock worth $22,534,353. Company insiders own 4.61% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently commented on OKTA shares. HSBC cut Okta from a “buy” rating to a “hold” rating in a research note on Monday, July 6th. BTIG Research raised their price objective on shares of Okta from $119.00 to $136.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. UBS Group raised their price objective on shares of Okta from $115.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Wedbush reiterated an “outperform” rating and issued a $60.00 price objective on shares of Okta in a research note on Friday, May 29th. Finally, Royal Bank Of Canada boosted their target price on shares of Okta from $108.00 to $122.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $121.81.
Check Out Our Latest Analysis on Okta
Okta Profile
Okta, Inc is a publicly traded provider of identity and access management solutions, headquartered in San Francisco, California. Founded in 2009 by Todd McKinnon and Frederic Kerrest, the company completed its initial public offering in April 2017. Under the leadership of McKinnon as chief executive officer and Kerrest as chief operating officer, Okta has grown into a leading vendor in the cybersecurity space, focusing on secure user authentication, single sign-on and lifecycle management for digital identities.
At the core of Okta’s offering is the Okta Identity Cloud, a suite of cloud-native services that enable organizations to manage user access across web and mobile applications, on-premises systems and APIs.
Recommended Stories
- Five stocks we like better than Okta
- AMD and Cerbras Create A New Blueprint For Hardware
- Intel Earnings Reveal Whether the Chip Selloff Created a Buy
- CrowdStrike’s Cerebras Deal Puts Its AI Security Strategy to the Test
- Plugging In: How Kinder Morgan Powers Up Profits
Want to see what other hedge funds are holding OKTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Okta, Inc. (NASDAQ:OKTA – Free Report).
Receive News & Ratings for Okta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta and related companies with MarketBeat.com's FREE daily email newsletter.
