Courier Capital LLC grew its holdings in Okta, Inc. (NASDAQ:OKTA – Free Report) by 50.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 14,042 shares of the company’s stock after acquiring an additional 4,716 shares during the period. Courier Capital LLC’s holdings in Okta were worth $2,936,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. NorthCrest Asset Manangement LLC acquired a new position in Okta in the third quarter worth about $248,000. Perpetual Ltd lifted its stake in Okta by 129.9% during the third quarter. Perpetual Ltd now owns 6,692 shares of the company’s stock worth $1,399,000 after purchasing an additional 3,781 shares during the period. Wedmont Private Capital bought a new position in Okta during the third quarter worth about $260,000. Mn Services Vermogensbeheer B.V. lifted its stake in Okta by 5.4% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 50,845 shares of the company’s stock worth $10,632,000 after purchasing an additional 2,600 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Okta by 15.5% during the third quarter. GAMMA Investing LLC now owns 4,547 shares of the company’s stock valued at $951,000 after purchasing an additional 611 shares in the last quarter. 86.64% of the stock is owned by institutional investors.
Okta Trading Down 0.2%
OKTA stock traded down $0.55 during trading on Tuesday, hitting $226.53. 2,316,207 shares of the stock traded hands, compared to its average volume of 3,578,976. Okta, Inc. has a one year low of $62.66 and a one year high of $235.00. The stock has a market cap of $39.60 billion, a price-to-earnings ratio of 136.46, a P/E/G ratio of 7.22 and a beta of 0.73. The company has a 50 day simple moving average of $175.39 and a 200 day simple moving average of $130.67.
Insider Transactions at Okta
In other news, CFO Brett Tighe sold 41,251 shares of Okta stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $162.44, for a total value of $6,700,812.44. Following the completion of the transaction, the chief financial officer owned 7,693 shares in the company, valued at approximately $1,249,650.92. The trade was a 84.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Kelleher sold 6,395 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $183.58, for a total value of $1,173,994.10. Following the completion of the transaction, the insider directly owned 18,668 shares in the company, valued at $3,427,071.44. The trade was a 25.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 137,766 shares of company stock valued at $23,927,112. Corporate insiders own 4.61% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. KeyCorp set a $240.00 price objective on Okta and gave the company an “overweight” rating in a research note on Thursday, September 24th. New Street Research set a $235.00 target price on Okta in a report on Thursday, September 24th. Guggenheim raised their target price on Okta from $188.00 to $227.00 and gave the stock a “buy” rating in a research report on Thursday, September 24th. HC Wainwright initiated coverage on Okta in a research note on Monday, July 6th. They issued a “buy” rating on the stock. Finally, Cantor Fitzgerald boosted their price target on Okta from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $201.10.
Check Out Our Latest Stock Report on Okta
Okta Profile
Okta, Inc is an identity and access management company that helps organizations secure and manage access to applications, systems, devices and digital services. Its platform is designed to support employees, contractors, partners, customers and other users across cloud-based and on-premises environments.
Okta’s products include single sign-on, multifactor authentication, lifecycle management, identity governance, privileged access and identity threat protection. Through its Workforce Identity Cloud and Customer Identity Cloud, the company provides tools for workforce access management and for integrating authentication and authorization capabilities into customer-facing applications.
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