Parallel Advisors LLC Buys 1,275 Shares of Okta, Inc. (NASDAQ:OKTA)

Parallel Advisors LLC grew its position in Okta, Inc. (NASDAQ:OKTA) by 37.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,670 shares of the company’s stock after acquiring an additional 1,275 shares during the period. Parallel Advisors LLC’s holdings in Okta were worth $368,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of OKTA. Creative Financial Designs Inc. ADV raised its position in Okta by 23.9% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 2,111 shares of the company’s stock valued at $166,000 after purchasing an additional 407 shares during the last quarter. Frank Rimerman Advisors LLC raised its holdings in Okta by 2.4% in the 4th quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock valued at $352,000 after buying an additional 105 shares during the last quarter. LBP AM SA bought a new stake in Okta during the 4th quarter worth approximately $1,986,000. Skandinaviska Enskilda Banken AB publ increased its position in Okta by 2.8% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 34,695 shares of the company’s stock valued at $2,762,000 after acquiring an additional 959 shares during the period. Finally, Tredje AP fonden raised its stake in shares of Okta by 757.5% during the fourth quarter. Tredje AP fonden now owns 226,295 shares of the company’s stock valued at $17,832,000 after acquiring an additional 199,906 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Buying and Selling at Okta

In related news, insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the transaction, the insider now owns 22,125 shares of the company’s stock, valued at $2,524,241.25. The trade was a 34.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Robert Kelleher sold 5,895 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $113.75, for a total value of $670,556.25. Following the completion of the sale, the insider now directly owns 9,828 shares of the company’s stock, valued at $1,117,935. The trade was a 37.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 763,901 shares of company stock worth $70,880,205. Insiders own 7.00% of the company’s stock.

Okta Stock Up 0.8 %

Shares of NASDAQ OKTA opened at $113.74 on Friday. 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 company has a 50-day moving average price of $97.48 and a 200-day moving average price of $84.32. The stock has a market capitalization of $19.75 billion, a P/E ratio of -324.97, a P/E/G ratio of 6.42 and a beta of 1.09. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $116.96.

Analyst Ratings Changes

A number of analysts recently weighed in on OKTA shares. Scotiabank increased their price objective on Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a report on Tuesday, March 4th. Robert W. Baird raised their price objective on Okta from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. JMP Securities reiterated a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. Jefferies Financial Group raised their price target on shares of Okta from $90.00 to $110.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. Finally, Royal Bank of Canada upped their price objective on shares of Okta from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $115.29.

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.