149,700 Shares in Okta, Inc. (NASDAQ:OKTA) Acquired by Blue Grotto Capital LLC

Blue Grotto Capital LLC bought a new position in Okta, Inc. (NASDAQ:OKTA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 149,700 shares of the company’s stock, valued at approximately $11,796,000. Okta makes up about 2.2% of Blue Grotto Capital LLC’s holdings, making the stock its 19th biggest holding. Blue Grotto Capital LLC owned approximately 0.09% of Okta at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in Okta by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock worth $79,503,000 after purchasing an additional 17,950 shares during the last quarter. Eagle Asset Management Inc. increased its holdings in Okta by 21.6% in the third quarter. Eagle Asset Management Inc. now owns 20,784 shares of the company’s stock worth $1,595,000 after buying an additional 3,685 shares during the last quarter. Cerity Partners LLC raised its position in Okta by 211.4% during the third quarter. Cerity Partners LLC now owns 54,412 shares of the company’s stock valued at $4,045,000 after acquiring an additional 36,936 shares in the last quarter. Swedbank AB lifted its stake in Okta by 0.8% in the third quarter. Swedbank AB now owns 80,011 shares of the company’s stock valued at $5,948,000 after acquiring an additional 609 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its position in Okta by 478.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 27,215 shares of the company’s stock worth $2,023,000 after acquiring an additional 22,507 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Okta

In other Okta news, insider Larissa Schwartz sold 11,552 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the sale, the insider now directly owns 22,125 shares of the company’s stock, valued at approximately $2,524,241.25. This represents a 34.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jacques Frederic Kerrest sold 3,306 shares of Okta stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total transaction of $293,738.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 763,901 shares of company stock valued at $70,880,205. 7.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group upped their price objective on shares of Okta from $90.00 to $110.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. Needham & Company LLC reiterated a “buy” rating and set a $115.00 price target on shares of Okta in a research note on Tuesday, March 4th. JMP Securities restated a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. UBS Group set a $135.00 price target on Okta in a report on Tuesday, March 4th. Finally, Royal Bank of Canada boosted their price objective on shares of Okta from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Okta currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.29.

Okta Stock Performance

Shares of NASDAQ:OKTA opened at $116.72 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The business’s fifty day moving average price is $98.81 and its two-hundred day moving average price is $85.04. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $118.07. The stock has a market capitalization of $20.26 billion, a price-to-earnings ratio of -333.49, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09.

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.