Fox Run Management L.L.C. Has $1.77 Million Stock Position in Okta, Inc. (NASDAQ:OKTA)

Fox Run Management L.L.C. lifted its holdings in Okta, Inc. (NASDAQ:OKTA) by 300.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,517 shares of the company’s stock after acquiring an additional 16,897 shares during the period. Okta makes up approximately 0.3% of Fox Run Management L.L.C.’s investment portfolio, making the stock its 26th largest position. Fox Run Management L.L.C.’s holdings in Okta were worth $1,774,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of OKTA. Paloma Partners Management Co bought a new stake in Okta in the 3rd quarter valued at about $969,000. SBI Securities Co. Ltd. acquired a new stake in shares of Okta during the 4th quarter worth $1,686,000. Stifel Financial Corp raised its stake in Okta by 56.1% in the third quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock valued at $2,770,000 after purchasing an additional 13,387 shares in the last quarter. Nordea Investment Management AB lifted its position in Okta by 1,150.2% during the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock worth $33,146,000 after purchasing an additional 382,190 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Okta by 7.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,547 shares of the company’s stock worth $8,813,000 after buying an additional 8,239 shares in the last quarter. 86.64% of the stock is owned by institutional investors.

Okta Stock Performance

NASDAQ:OKTA opened at $113.74 on Friday. 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, Inc. has a twelve month low of $70.56 and a twelve month high of $116.96. The company has a fifty day moving average of $97.48 and a 200-day moving average of $84.32. The firm 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.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. UBS Group set a $135.00 price target on shares of Okta in a report on Tuesday, March 4th. BTIG Research restated a “buy” rating on shares of Okta in a research note on Tuesday, March 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 target price on shares of Okta in a report on Tuesday, March 4th. Wells Fargo & Company boosted their price target on Okta from $95.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Finally, DA Davidson raised Okta from a “neutral” rating to a “buy” rating and raised their price objective for the company from $90.00 to $125.00 in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Okta has a consensus rating of “Moderate Buy” and an average price target of $115.29.

Insider Activity

In other news, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the transaction, the insider now directly owns 24,462 shares in the company, valued at $1,969,191. This trade represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total value of $445,000.00. Following the transaction, the chief financial officer now owns 112,533 shares of the company’s stock, valued at $10,015,437. This trade represents a 4.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 763,901 shares of company stock worth $70,880,205. Company insiders own 7.00% of the company’s stock.

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.