Sanctuary Advisors LLC Raises Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Sanctuary Advisors LLC lifted its stake in Okta, Inc. (NASDAQ:OKTA) by 125.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,244 shares of the company’s stock after acquiring an additional 6,265 shares during the quarter. Sanctuary Advisors LLC’s holdings in Okta were worth $861,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in Okta in the 3rd quarter worth approximately $2,436,000. MML Investors Services LLC increased its position in Okta by 43.2% during the third quarter. MML Investors Services LLC now owns 33,333 shares of the company’s stock valued at $2,478,000 after acquiring an additional 10,048 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in Okta in the third quarter valued at about $32,000. Wahed Invest LLC boosted its position in Okta by 14.8% in the third quarter. Wahed Invest LLC now owns 3,874 shares of the company’s stock worth $288,000 after purchasing an additional 499 shares during the last quarter. Finally, Washington Harbour Partners LP grew its stake in shares of Okta by 19.4% during the 3rd quarter. Washington Harbour Partners LP now owns 35,760 shares of the company’s stock valued at $2,658,000 after purchasing an additional 5,800 shares during the period. Institutional investors own 86.64% of the company’s stock.

Okta Price Performance

NASDAQ:OKTA opened at $83.28 on Monday. The stock has a 50 day moving average of $77.63 and a two-hundred day moving average of $83.30. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $114.50. The firm has a market cap of $14.27 billion, a P/E ratio of -237.94, a price-to-earnings-growth ratio of 8.61 and a beta of 1.00. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.

Analysts Set New Price Targets

OKTA has been the subject of several analyst reports. Westpark Capital reissued a “buy” rating and issued a $140.00 target price on shares of Okta in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft downgraded shares of Okta from a “buy” rating to a “hold” rating and dropped their target price for the stock from $115.00 to $85.00 in a report on Tuesday, November 12th. UBS Group dropped their price objective on Okta from $120.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Wells Fargo & Company boosted their price target on Okta from $80.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, JMP Securities reissued a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $104.45.

Insider Transactions at Okta

In other news, CEO Todd Mckinnon sold 224,533 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $74.62, for a total value of $16,754,652.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jacques Frederic Kerrest sold 131,426 shares of Okta stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $80.68, for a total value of $10,603,449.68. Following the transaction, the director now owns 1,622 shares in the company, valued at approximately $130,862.96. The trade was a 98.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 371,397 shares of company stock valued at $28,539,445 over the last ninety days. Insiders own 7.00% of the company’s stock.

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.