4,519 Shares in Okta, Inc. (NASDAQ:OKTA) Purchased by Sapience Investments LLC

Sapience Investments LLC purchased a new stake in shares of Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,519 shares of the company’s stock, valued at approximately $356,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OKTA. Frank Rimerman Advisors LLC increased its stake in shares of Okta by 2.4% during the fourth quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock valued at $352,000 after buying an additional 105 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Okta by 1.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company’s stock worth $620,000 after purchasing an additional 136 shares in the last quarter. Stephens Inc. AR lifted its stake in shares of Okta by 5.0% in the 4th quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock valued at $260,000 after purchasing an additional 157 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Okta by 3.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,646 shares of the company’s stock worth $445,000 after purchasing an additional 171 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Okta by 2.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock valued at $605,000 after acquiring an additional 180 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OKTA has been the subject of a number of recent research reports. Westpark Capital reaffirmed a “buy” rating and set a $140.00 price objective on shares of Okta in a research report on Friday, February 28th. Morgan Stanley dropped their price target on Okta from $125.00 to $123.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Cantor Fitzgerald assumed coverage on Okta in a research report on Monday, March 31st. They issued an “overweight” rating and a $130.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Okta in a research report on Tuesday, March 4th. Finally, BTIG Research reiterated a “buy” rating on shares of Okta in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $117.74.

Insider Activity at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 130,000 shares of Okta stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total transaction of $13,650,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Robert Kelleher sold 5,895 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $113.75, for a total value of $670,556.25. Following the sale, the insider now owns 9,828 shares of the company’s stock, valued at $1,117,935. This represents a 37.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 154,452 shares of company stock worth $16,347,360 in the last 90 days. Corporate insiders own 7.00% of the company’s stock.

Okta Price Performance

Okta stock opened at $127.30 on Friday. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57. The stock has a fifty day moving average of $108.15 and a 200-day moving average of $93.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $22.10 billion, a P/E ratio of -363.71, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96.

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.