SWS Partners Increases Position in Okta, Inc. (NASDAQ:OKTA)

SWS Partners raised its position in shares of Okta, Inc. (NASDAQ:OKTA) by 38.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,916 shares of the company’s stock after purchasing an additional 12,430 shares during the period. Okta makes up approximately 1.1% of SWS Partners’ holdings, making the stock its 22nd largest holding. SWS Partners’ holdings in Okta were worth $3,539,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in OKTA. Itau Unibanco Holding S.A. purchased a new position in shares of Okta during the 3rd quarter valued at about $25,000. Bank of Jackson Hole Trust purchased a new position in shares of Okta during the fourth quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Okta in the 3rd quarter worth approximately $32,000. Modus Advisors LLC purchased a new stake in shares of Okta in the 4th quarter valued at $44,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Okta in the 4th quarter valued at $44,000. Institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling at Okta

In other news, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $80.50, for a total value of $217,672.00. Following the sale, the insider now directly owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. This represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jacques Frederic Kerrest sold 390,000 shares of Okta stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $87.09, for a total value of $33,965,100.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 849,482 shares of company stock valued at $74,422,216. Corporate insiders own 7.00% of the company’s stock.

Okta Trading Down 3.7 %

Shares of NASDAQ OKTA opened at $87.16 on Tuesday. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $114.50. 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 firm has a 50-day moving average of $89.37 and a 200 day moving average of $82.38. The stock has a market cap of $14.94 billion, a P/E ratio of -249.03, a price-to-earnings-growth ratio of 6.42 and a beta of 1.03.

Analyst Ratings Changes

Several research firms have weighed in on OKTA. BTIG Research boosted their price target on shares of Okta from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Susquehanna boosted their target price on Okta from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Westpark Capital restated a “buy” rating and set a $140.00 price target on shares of Okta in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price objective on shares of Okta in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $101.00 price objective on shares of Okta in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Okta has a consensus rating of “Hold” and a consensus target price of $105.67.

Okta 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.