OppenheimerFunds Inc. Has $2.74 Million Stake in Okta Inc (OKTA)
OppenheimerFunds Inc. grew its stake in shares of Okta Inc (NASDAQ:OKTA) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,850 shares of the company’s stock after buying an additional 1,954 shares during the period. OppenheimerFunds Inc.’s holdings in Okta were worth $2,736,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of Okta by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,010,369 shares of the company’s stock valued at $29,291,000 after buying an additional 51,761 shares in the last quarter. Brown Advisory Inc. purchased a new position in shares of Okta during the 4th quarter valued at about $3,397,000. Gilder Gagnon Howe & Co. LLC lifted its position in shares of Okta by 2.2% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 761,725 shares of the company’s stock valued at $19,508,000 after buying an additional 16,694 shares in the last quarter. Hamilton Lane Advisors LLC purchased a new position in shares of Okta during the 4th quarter valued at about $13,286,000. Finally, Northern Trust Corp purchased a new position in shares of Okta during the 2nd quarter valued at about $2,865,000. 39.10% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Okta Inc (OKTA) opened at $39.71 on Friday. Okta Inc has a 12 month low of $21.52 and a 12 month high of $42.88.
In other Okta news, insider Ventures Iv L.P. Khosla sold 300,000 shares of Okta stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $25.49, for a total value of $7,647,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Jonathan T. Runyan sold 2,500 shares of Okta stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $38.93, for a total value of $97,325.00. Following the completion of the sale, the general counsel now directly owns 2,500 shares in the company, valued at approximately $97,325. The disclosure for this sale can be found here. In the last ninety days, insiders sold 615,575 shares of company stock worth $17,190,833.
A number of research analysts have recently weighed in on OKTA shares. BidaskClub raised Okta from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 22nd. Oppenheimer reissued a “buy” rating and set a $34.00 target price on shares of Okta in a research note on Thursday, December 7th. Needham & Company LLC assumed coverage on Okta in a research note on Wednesday, February 14th. They set a “buy” rating and a $38.00 target price on the stock. FBN Securities assumed coverage on Okta in a research note on Monday, January 22nd. They set an “outperform” rating and a $35.00 target price on the stock. Finally, KeyCorp reissued a “positive” rating and set a $43.00 target price (up previously from $35.00) on shares of Okta in a research note on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Okta currently has a consensus rating of “Buy” and an average price target of $41.45.
ILLEGAL ACTIVITY WARNING: This piece of content was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark laws. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2018/03/11/oppenheimerfunds-inc-has-2-74-million-stake-in-okta-inc-okta.html.
Okta Company Profile
Okta, Inc is a United States-based independent provider of identity for the enterprise. The Company’s Okta Identity Cloud connects and protects employees. It also connects enterprises to their partners, suppliers and customers. The Company offers products, such as Okta information technology (IT) Products and Okta for Developers.
Want to see what other hedge funds are holding OKTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Okta Inc (NASDAQ:OKTA).
Receive News & Ratings for Okta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta and related companies with MarketBeat.com's FREE daily email newsletter.