Everence Capital Management Inc. Invests $355,000 in Okta, Inc. (NASDAQ:OKTA)

Everence Capital Management Inc. acquired 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 Securities and Exchange Commission (SEC). The fund acquired 4,510 shares of the company’s stock, valued at approximately $355,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Modus Advisors LLC bought a new position in shares of Okta in the fourth quarter worth $44,000. 272 Capital LP bought a new position in Okta in the 3rd quarter worth about $1,241,000. Oddo BHF Asset Management Sas purchased a new stake in shares of Okta in the 3rd quarter valued at about $5,343,000. Tidal Investments LLC raised its holdings in shares of Okta by 132.0% in the 3rd quarter. Tidal Investments LLC now owns 25,103 shares of the company’s stock valued at $1,866,000 after acquiring an additional 14,283 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Okta during the 3rd quarter valued at about $108,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Trading Up 4.5 %

Shares of OKTA opened at $84.38 on Tuesday. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $114.50. The firm has a market capitalization of $14.46 billion, a price-to-earnings ratio of -241.09, a PEG ratio of 8.61 and a beta of 1.00. The firm’s 50-day moving average price is $79.16 and its 200-day moving average price is $82.72. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.

Wall Street Analysts Forecast Growth

OKTA has been the topic of a number of recent analyst reports. Mizuho lowered their target price on shares of Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. BTIG Research raised their price objective on shares of Okta from $98.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft cut Okta from a “buy” rating to a “hold” rating and reduced their target price for the company from $115.00 to $85.00 in a research note on Tuesday, November 12th. Westpark Capital reaffirmed a “buy” rating and set a $140.00 price target on shares of Okta in a research note on Wednesday, December 4th. Finally, JMP Securities reiterated a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $104.45.

Insider Buying and Selling at Okta

In other news, CEO Todd Mckinnon sold 233,028 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $82.31, for a total transaction of $19,180,534.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CRO Jonathan James Addison sold 9,850 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $764,655.50. Following the completion of the sale, the executive now directly owns 14,601 shares in the company, valued at $1,133,475.63. This represents a 40.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 607,129 shares of company stock valued at $47,937,652. 7.00% of the stock is currently owned by corporate insiders.

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.