CIBC Private Wealth Group LLC Has $5.33 Million Stock Position in Okta, Inc. (NASDAQ:OKTA)

CIBC Private Wealth Group LLC increased its stake in Okta, Inc. (NASDAQ:OKTA) by 131.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,409 shares of the company’s stock after buying an additional 35,409 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Okta were worth $5,333,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in OKTA. Itau Unibanco Holding S.A. acquired a new stake in Okta in the third quarter valued at $25,000. Bank of Jackson Hole Trust bought a new stake in shares of Okta in the 4th quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new stake in Okta in the 3rd quarter valued at about $32,000. TD Private Client Wealth LLC grew its holdings in Okta by 3,507.7% during the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock worth $37,000 after purchasing an additional 456 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new position in Okta during the fourth quarter worth approximately $43,000. 86.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Eric Robert Kelleher sold 5,895 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $113.75, for a total transaction of $670,556.25. Following the sale, the insider now owns 9,828 shares in the company, valued at $1,117,935. The trade was a 37.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $89.58, for a total value of $242,224.32. Following the completion of the transaction, the insider now owns 23,311 shares of the company’s stock, valued at $2,088,199.38. This represents a 10.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 761,197 shares of company stock worth $70,662,533 in the last three months. 7.00% of the stock is owned by corporate insiders.

Okta Stock Performance

NASDAQ:OKTA opened at $104.69 on Wednesday. The stock’s 50-day simple moving average is $101.00 and its 200 day simple moving average is $86.31. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $118.07. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $18.17 billion, a PE ratio of -299.11, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09.

Analyst Ratings Changes

OKTA has been the subject of a number of recent analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. KeyCorp raised their price target on Okta from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. DA Davidson upgraded shares of Okta from a “neutral” rating to a “buy” rating and upped their price objective for the company from $90.00 to $125.00 in a report on Tuesday, March 4th. BMO Capital Markets raised their target price on shares of Okta from $105.00 to $130.00 and gave the stock a “market perform” rating in a research note on Monday, March 10th. Finally, Sanford C. Bernstein decreased their price target on shares of Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $116.09.

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.