GPS Wealth Strategies Group LLC Increases Stock Position in Okta, Inc. (NASDAQ:OKTA)

GPS Wealth Strategies Group LLC grew its position in shares of Okta, Inc. (NASDAQ:OKTA) by 169.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,384 shares of the company’s stock after purchasing an additional 870 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in Okta were worth $109,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in Okta by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock valued at $79,503,000 after purchasing an additional 17,950 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in shares of Okta by 9.8% during the third quarter. Penserra Capital Management LLC now owns 767,962 shares of the company’s stock valued at $57,089,000 after purchasing an additional 68,757 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Okta in the third quarter worth $49,373,000. Glenmede Trust Co. NA raised its holdings in Okta by 17.6% in the third quarter. Glenmede Trust Co. NA now owns 510,658 shares of the company’s stock worth $37,962,000 after buying an additional 76,588 shares during the last quarter. Finally, Swiss National Bank raised 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 during the last quarter. 86.64% of the stock is currently owned by institutional investors.

Insider Transactions at Okta

In other Okta news, CFO Brett Tighe sold 5,000 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $94.76, for a total value of $473,800.00. Following the transaction, the chief financial officer now owns 97,533 shares of the company’s stock, valued at $9,242,227.08. This represents a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the completion of the transaction, the director now directly owns 1,622 shares in the company, valued at $130,862.96. This represents a 98.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 913,168 shares of company stock worth $78,420,769. 7.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. raised Okta from a “neutral” rating to an “overweight” rating and set a $100.00 target price for the company in a research report on Monday, December 16th. The Goldman Sachs Group boosted their price target on Okta from $97.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Citigroup increased their price objective on shares of Okta from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. KeyCorp upgraded shares of Okta from a “sector weight” rating to an “overweight” rating and set a $115.00 price target on the stock in a research note on Thursday, December 19th. Finally, Canaccord Genuity Group upped their price objective on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Okta currently has an average rating of “Hold” and an average target price of $104.55.

Okta Stock Performance

NASDAQ:OKTA opened at $93.24 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock’s fifty day moving average is $84.41 and its 200 day moving average is $81.97. The firm has a market capitalization of $15.98 billion, a PE ratio of -266.40, a PEG ratio of 9.52 and a beta of 1.03. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $114.50.

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.