Linden Thomas Advisory Services LLC Increases Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Linden Thomas Advisory Services LLC boosted its position in Okta, Inc. (NASDAQ:OKTA) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,130 shares of the company’s stock after purchasing an additional 1,004 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Okta were worth $1,271,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Okta by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock worth $79,503,000 after buying an additional 17,950 shares during the period. Penserra Capital Management LLC raised its stake in shares of Okta by 9.8% in the third quarter. Penserra Capital Management LLC now owns 767,962 shares of the company’s stock worth $57,089,000 after buying an additional 68,757 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Okta in the third quarter worth about $49,373,000. Truist Financial Corp raised its stake in shares of Okta by 62.5% in the second quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock worth $48,870,000 after buying an additional 200,770 shares during the period. Finally, Glenmede Trust Co. NA raised its stake in Okta by 17.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 510,658 shares of the company’s stock valued at $37,962,000 after purchasing an additional 76,588 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $101.00 target price on shares of Okta in a research note on Wednesday, December 4th. BTIG Research lifted their price objective on Okta from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Scotiabank reduced their price objective on Okta from $96.00 to $94.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. DA Davidson lifted their price objective on Okta from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, Canaccord Genuity Group lifted their price objective on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $104.55.

Okta Stock Up 0.9 %

Shares of OKTA opened at $88.86 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $114.50. The stock’s 50 day moving average is $82.18 and its two-hundred day moving average is $82.16. The firm has a market cap of $15.23 billion, a P/E ratio of -253.89, a PEG ratio of 8.95 and a beta of 1.00.

Insider Buying and Selling

In related news, CEO Todd Mckinnon sold 233,028 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $82.31, for a total transaction of $19,180,534.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $89.58, for a total value of $242,224.32. Following the sale, the insider now directly owns 23,311 shares of the company’s stock, valued at $2,088,199.38. This trade represents a 10.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 380,959 shares of company stock worth $31,182,175. 7.00% of the stock is owned by corporate 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.