Okta, Inc. (NASDAQ:OKTA) Shares Acquired by Vanguard Group Inc. (2024)

Posted by MarketBeat News on Jun 20th, 2024

Vanguard Group Inc. lifted its stake in Okta, Inc. (NASDAQ:OKTA – Free Report) by 2.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 15,719,619 shares of the company’s stock after acquiring an additional 438,496 shares during the period. Vanguard Group Inc. owned about 0.09% of Okta worth $1,423,097,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Zone Wealth Advisors LLC grew its stake in Okta by 2.7% during the 4th quarter. Blue Zone Wealth Advisors LLC now owns 5,142 shares of the company’s stock valued at $466,000 after purchasing an additional 134 shares during the last quarter. Creative Financial Designs Inc. ADV raised its position in Okta by 7.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,926 shares of the company’s stock worth $174,000 after acquiring an additional 138 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in Okta by 1.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 15,136 shares of the company’s stock valued at $1,370,000 after purchasing an additional 189 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its position in shares of Okta by 19.2% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,207 shares of the company’s stock valued at $98,000 after purchasing an additional 194 shares during the period. Finally, Wahed Invest LLC grew its position in shares of Okta by 8.6% in the fourth quarter. Wahed Invest LLC now owns 2,606 shares of the company’s stock valued at $236,000 after purchasing an additional 207 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OKTA has been the topic of several research analyst reports. Canaccord Genuity Group lifted their price objective on Okta from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Thursday, February 29th. The Goldman Sachs Group boosted their price target on Okta from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price objective on shares of Okta in a report on Monday. Evercore ISI upgraded shares of Okta from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $102.00 to $122.00 in a report on Thursday, May 30th. Finally, Oppenheimer increased their price objective on shares of Okta from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Nineteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $104.48.

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Insider Buying and Selling at Okta

In other news, Director Jacques Frederic Kerrest sold 18,878 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $87.19, for a total transaction of $1,645,972.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.00% of the stock is owned by insiders.

Okta Price Performance

NASDAQ:OKTA opened at $87.54 on Thursday. The firm has a market cap of $14.73 billion, a price-to-earnings ratio of -52.42 and a beta of 1.03. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average is $94.26 and its two-hundred day moving average is $92.05. Okta, Inc. has a 12-month low of $65.04 and a 12-month high of $114.50.

Okta Profile

(Free Report)

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.

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