Jacobson & Schmitt Advisors LLC Buys 33,385 Shares of Okta, Inc. (NASDAQ:OKTA)

Jacobson & Schmitt Advisors LLC boosted its stake in Okta, Inc. (NASDAQ:OKTA) by 53.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 95,793 shares of the company’s stock after acquiring an additional 33,385 shares during the quarter. Jacobson & Schmitt Advisors LLC’s holdings in Okta were worth $7,548,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OKTA. Point72 Asset Management L.P. bought a new position in Okta in the 3rd quarter valued at approximately $49,373,000. Nordea Investment Management AB lifted its stake in Okta by 1,150.2% in the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after purchasing an additional 382,190 shares during the last quarter. 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. Robeco Institutional Asset Management B.V. raised its stake in shares of Okta by 232.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock valued at $29,479,000 after acquiring an additional 277,084 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Okta by 105.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock valued at $26,627,000 after acquiring an additional 184,107 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Okta Stock Down 0.1 %

Shares of NASDAQ OKTA opened at $96.98 on Thursday. The stock has a market capitalization of $16.62 billion, a P/E ratio of -277.09, a P/E/G ratio of 6.49 and a beta of 1.03. The company has a 50-day moving average price of $88.20 and a 200-day moving average price of $82.38. 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 Activity

In related news, insider Larissa Schwartz sold 2,704 shares of the firm’s 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 transaction, the insider now directly owns 24,462 shares of the company’s stock, valued at $1,969,191. This trade represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Todd Mckinnon sold 233,028 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $82.31, for a total transaction of $19,180,534.68. The disclosure for this sale can be found here. Insiders sold 980,908 shares of company stock worth $85,025,665 over the last three months. 7.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on OKTA shares. Guggenheim reaffirmed a “buy” rating and set a $130.00 price target on shares of Okta in a research note on Wednesday, December 4th. The Goldman Sachs Group raised their price target on shares of Okta from $97.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Jefferies Financial Group dropped their price target on shares of Okta from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Citigroup raised their price target on shares of Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Finally, Susquehanna raised their price target on shares of Okta from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $105.45.

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.