Quest Partners LLC Buys Shares of 1,599 Okta, Inc. (NASDAQ:OKTA)

Quest Partners LLC purchased a new position in Okta, Inc. (NASDAQ:OKTA) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,599 shares of the company’s stock, valued at approximately $150,000.

Several other institutional investors have also made changes to their positions in the stock. Sands Capital Management LLC increased its position in Okta by 42.3% in the 4th quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company’s stock worth $756,687,000 after buying an additional 2,486,456 shares during the period. Norges Bank acquired a new position in Okta during the 4th quarter valued at $150,794,000. First Trust Advisors LP boosted its holdings in Okta by 28.1% in the 4th quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock valued at $369,854,000 after purchasing an additional 897,216 shares during the period. Point72 Asset Management L.P. boosted its holdings in Okta by 1,465.8% in the 4th quarter. Point72 Asset Management L.P. now owns 682,900 shares of the company’s stock valued at $61,823,000 after purchasing an additional 732,900 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Okta by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 15,719,619 shares of the company’s stock worth $1,423,097,000 after purchasing an additional 438,496 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Trading Down 0.0 %

Shares of OKTA opened at $74.03 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. Okta, Inc. has a fifty-two week low of $65.04 and a fifty-two week high of $114.50. The firm has a 50 day moving average price of $88.92 and a 200-day moving average price of $94.45. The firm has a market cap of $12.57 billion, a price-to-earnings ratio of -44.33, a PEG ratio of 40.62 and a beta of 1.01.

Insider Transactions at Okta

In other news, Director Jacques Frederic Kerrest sold 1,552 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $86.99, for a total transaction of $135,008.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Larissa Schwartz sold 2,792 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $99.40, for a total value of $277,524.80. Following the completion of the transaction, the insider now directly owns 29,809 shares of the company’s stock, valued at $2,963,014.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jacques Frederic Kerrest sold 1,552 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $86.99, for a total value of $135,008.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 346,173 shares of company stock worth $32,765,801. Insiders own 7.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on OKTA shares. Bank of America lowered shares of Okta from a “buy” rating to an “underperform” rating and decreased their target price for the company from $135.00 to $75.00 in a research report on Thursday, August 29th. BMO Capital Markets upped their price objective on Okta from $100.00 to $103.00 and gave the company a “market perform” rating in a research note on Thursday, August 29th. Citigroup cut their target price on Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Robert W. Baird lowered their price target on Okta from $108.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $125.00 price objective on shares of Okta in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $105.14.

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.