AlphaQuest LLC Boosts Stock Position in Okta, Inc. (NASDAQ:OKTA)

AlphaQuest LLC boosted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 43.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,251 shares of the company’s stock after purchasing an additional 3,117 shares during the quarter. AlphaQuest LLC’s holdings in Okta were worth $808,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of OKTA. Itau Unibanco Holding S.A. purchased a new stake in Okta during the 3rd quarter worth approximately $25,000. Bank of Jackson Hole Trust purchased a new stake in Okta during the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in Okta during the 3rd quarter worth approximately $32,000. Modus Advisors LLC purchased a new stake in Okta during the 4th quarter worth approximately $44,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Okta during the 4th quarter worth approximately $44,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Larissa Schwartz sold 2,704 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $80.50, for a total value of $217,672.00. Following the completion of the sale, the insider now owns 24,462 shares in the company, valued at $1,969,191. This represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jacques Frederic Kerrest sold 3,306 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total value of $293,738.10. The disclosure for this sale can be found here. Insiders sold a total of 979,482 shares of company stock worth $88,072,216 over the last 90 days. 7.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Westpark Capital reiterated a “buy” rating and issued a $140.00 price target on shares of Okta in a report on Friday, February 28th. Piper Sandler boosted their price target on Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Royal Bank of Canada boosted their price target on Okta from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. DA Davidson upgraded Okta from a “neutral” rating to a “buy” rating and boosted their price target for the company from $90.00 to $125.00 in a report on Tuesday, March 4th. Finally, Guggenheim reiterated a “buy” rating and issued a $130.00 price target on shares of Okta in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Okta presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.39.

Okta Trading Down 6.4 %

Shares of Okta stock opened at $105.19 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm has a market cap of $18.02 billion, a price-to-earnings ratio of -300.54, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. The business has a fifty day simple moving average of $92.23 and a 200-day simple moving average of $82.85. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $116.96.

Okta Company 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.