Spire Wealth Management Acquires 2,090 Shares of Okta, Inc. (NASDAQ:OKTA)

Spire Wealth Management lifted its holdings in Okta, Inc. (NASDAQ:OKTA) by 696.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,390 shares of the company’s stock after purchasing an additional 2,090 shares during the period. Spire Wealth Management’s holdings in Okta were worth $188,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Okta by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock worth $79,503,000 after purchasing an additional 17,950 shares during the period. Penserra Capital Management LLC increased its holdings in Okta by 9.8% in the 3rd quarter. Penserra Capital Management LLC now owns 767,962 shares of the company’s stock worth $57,089,000 after acquiring an additional 68,757 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Okta in the 3rd quarter worth approximately $49,373,000. Glenmede Trust Co. NA increased its holdings in Okta by 17.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 510,658 shares of the company’s stock worth $37,962,000 after acquiring an additional 76,588 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Okta by 0.8% in the 3rd quarter. Swiss National Bank now owns 477,700 shares of the company’s stock worth $35,512,000 after acquiring an additional 3,600 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling

In other news, Director Jacques Frederic Kerrest sold 65,000 shares of Okta stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $97.50, for a total transaction of $6,337,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total value of $445,000.00. Following the sale, the chief financial officer now owns 112,533 shares of the company’s stock, valued at approximately $10,015,437. This trade represents a 4.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 978,168 shares of company stock worth $84,758,269 over the last three months. 7.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OKTA. Royal Bank of Canada reissued an “outperform” rating and issued a $101.00 target price on shares of Okta in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft lowered shares of Okta from a “buy” rating to a “hold” rating and reduced their target price for the stock from $115.00 to $85.00 in a report on Tuesday, November 12th. Scotiabank reduced their target price on shares of Okta from $96.00 to $94.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. Morgan Stanley raised shares of Okta from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $92.00 to $97.00 in a report on Monday, December 2nd. Finally, The Goldman Sachs Group increased their price objective on shares of Okta from $97.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $104.55.

Okta Stock Down 0.5 %

Shares of OKTA opened at $97.00 on Friday. The company has a market cap of $16.62 billion, a PE ratio of -277.14, a P/E/G ratio of 9.52 and a beta of 1.03. The business has a fifty day moving average of $85.99 and a 200 day moving average of $82.20. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $114.50. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

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.