Wingate Wealth Advisors Inc. Purchases New Position in Okta, Inc. (NASDAQ:OKTA)

Wingate Wealth Advisors Inc. purchased a new stake in shares of Okta, Inc. (NASDAQ:OKTA) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 560 shares of the company’s stock, valued at approximately $44,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new stake in Okta in the second quarter worth about $460,000. Atomi Financial Group Inc. grew its holdings in Okta by 24.9% in the third quarter. Atomi Financial Group Inc. now owns 2,747 shares of the company’s stock worth $204,000 after purchasing an additional 547 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Okta by 333.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,300 shares of the company’s stock worth $97,000 after purchasing an additional 1,000 shares during the period. CHICAGO TRUST Co NA grew its holdings in Okta by 8.2% in the third quarter. CHICAGO TRUST Co NA now owns 2,929 shares of the company’s stock worth $218,000 after purchasing an additional 221 shares during the period. Finally, ORG Partners LLC grew its holdings in Okta by 8.0% in the third quarter. ORG Partners LLC now owns 5,679 shares of the company’s stock worth $422,000 after purchasing an additional 419 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Trading Up 0.7 %

Shares of Okta stock opened at $97.66 on Tuesday. The company’s fifty day simple moving average is $86.33 and its 200-day simple moving average is $82.06. The stock has a market capitalization of $16.73 billion, a PE ratio of -279.03, a P/E/G ratio of 6.58 and a beta of 1.03. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $114.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the transaction, the insider now owns 24,462 shares in the company, valued at approximately $1,969,191. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jacques Frederic Kerrest sold 131,426 shares of Okta stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the transaction, the director now owns 1,622 shares in the company, valued at approximately $130,862.96. This trade represents a 98.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 978,168 shares of company stock worth $84,758,269 in the last 90 days. 7.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on OKTA shares. JMP Securities restated a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft cut shares of Okta from a “buy” rating to a “hold” rating and cut their price objective for the stock from $115.00 to $85.00 in a report on Tuesday, November 12th. KeyCorp upgraded shares of Okta from a “sector weight” rating to an “overweight” rating and set a $115.00 price objective on the stock in a report on Thursday, December 19th. BTIG Research increased their price target on shares of Okta from $98.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Sanford C. Bernstein cut their price target on shares of Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a report on Tuesday, December 17th. 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $104.55.

About Okta

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.