Harvest Fund Management Co. Ltd Buys Shares of 4,701 Okta, Inc. (NASDAQ:OKTA)

Harvest Fund Management Co. Ltd purchased a new stake in shares of Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,701 shares of the company’s stock, valued at approximately $367,000.

Several other large investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its stake in shares of Okta by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company’s stock valued at $87,903,000 after acquiring an additional 46,064 shares during the last quarter. Penserra Capital Management LLC raised its stake 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 acquiring an additional 68,757 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Okta during the third quarter valued at $49,373,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Okta by 58.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 568,797 shares of the company’s stock valued at $44,821,000 after acquiring an additional 210,615 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Okta by 138.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock valued at $43,721,000 after acquiring an additional 322,201 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Okta Stock Up 0.8 %

Okta stock opened at $113.74 on Friday. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $116.96. The stock has a market cap of $19.75 billion, a PE ratio of -324.97, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. The firm’s 50-day simple moving average is $97.48 and its 200 day simple moving average is $84.32. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OKTA. Citigroup raised their price target on shares of Okta from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. JMP Securities reissued a “market perform” rating on shares of Okta in a research note on Wednesday, December 4th. BTIG Research reissued a “buy” rating on shares of Okta in a research note on Tuesday, March 4th. Susquehanna lifted their target price on shares of Okta from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company lifted their target price on shares of Okta from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $115.29.

Insider Buying and Selling

In related news, CFO Brett Tighe sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total transaction of $445,000.00. Following the transaction, the chief financial officer now directly owns 112,533 shares in the company, valued at approximately $10,015,437. The trade was a 4.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Larissa Schwartz sold 11,552 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $2,524,241.25. This trade represents a 34.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 763,901 shares of company stock worth $70,880,205. 7.00% of the stock is owned by insiders.

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.