Prevail Innovative Wealth Advisors LLC Invests $3.62 Million in Okta, Inc. (NASDAQ:OKTA)

Prevail Innovative Wealth Advisors LLC acquired a new stake in Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 45,984 shares of the company’s stock, valued at approximately $3,624,000. Okta comprises approximately 1.0% of Prevail Innovative Wealth Advisors LLC’s investment portfolio, making the stock its 29th biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OKTA. CIBC Private Wealth Group LLC grew its holdings in shares of Okta by 131.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 62,409 shares of the company’s stock worth $5,333,000 after buying an additional 35,409 shares in the last quarter. RWA Wealth Partners LLC grew its stake in Okta by 33.0% during the 4th quarter. RWA Wealth Partners LLC now owns 25,928 shares of the company’s stock valued at $2,043,000 after acquiring an additional 6,437 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Okta by 54.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,241,220 shares of the company’s stock valued at $97,808,000 after acquiring an additional 440,171 shares during the last quarter. Allstate Corp purchased a new position in Okta in the 4th quarter worth approximately $377,000. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of Okta during the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $107.99 on Friday. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $118.07. The firm has a market capitalization of $18.75 billion, a P/E ratio of -308.54, a P/E/G ratio of 6.42 and a beta of 1.09. 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 company’s fifty day moving average price is $100.33 and its 200 day moving average price is $85.78.

Analysts Set New Price Targets

Several analysts have issued reports on OKTA shares. BMO Capital Markets upped their target price on Okta from $105.00 to $130.00 and gave the company a “market perform” rating in a report on Monday, March 10th. JMP Securities reissued a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. Royal Bank of Canada lifted their target price 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. Jefferies Financial Group increased their price target on shares of Okta from $90.00 to $110.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus raised their price target on shares of Okta from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.29.

Insider Transactions at Okta

In other Okta news, insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the transaction, the insider now owns 22,125 shares of the company’s stock, valued at $2,524,241.25. The trade was a 34.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Eric Robert Kelleher sold 5,895 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $113.75, for a total value of $670,556.25. Following the completion of the sale, the insider now owns 9,828 shares of the company’s stock, valued at approximately $1,117,935. This represents a 37.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 763,901 shares of company stock worth $70,880,205. Corporate insiders own 7.00% of the company’s stock.

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.