Diversify Advisory Services LLC Buys New Shares in Okta, Inc. (NASDAQ:OKTA)

Diversify Advisory Services LLC purchased a new stake in shares of Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,888 shares of the company’s stock, valued at approximately $2,269,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of OKTA. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Okta by 2.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock valued at $605,000 after acquiring an additional 180 shares during the last quarter. Bleakley Financial Group LLC increased its stake in Okta by 4.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after purchasing an additional 182 shares during the period. Creative Financial Designs Inc. ADV lifted its position in Okta by 12.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock valued at $127,000 after purchasing an additional 188 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after purchasing an additional 191 shares during the period. Finally, CHICAGO TRUST Co NA grew its holdings in shares of Okta by 6.5% in the fourth quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock worth $246,000 after purchasing an additional 191 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

OKTA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price target for the company in a report on Monday, December 16th. Piper Sandler increased their target price on shares of Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. DA Davidson raised their target price on Okta from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group upped their price target on Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $101.00 price objective on shares of Okta in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $104.61.

Insider Activity at Okta

In other Okta news, insider Larissa Schwartz sold 2,791 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $71.50, for a total value of $199,556.50. Following the completion of the transaction, the insider now owns 22,125 shares of the company’s stock, valued at approximately $1,581,937.50. The trade was a 11.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jacques Frederic Kerrest sold 131,426 shares of Okta stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the completion of the sale, the director now owns 1,622 shares of the company’s stock, valued at $130,862.96. This represents a 98.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 369,949 shares of company stock valued at $30,201,213. 7.00% of the stock is owned by corporate insiders.

Okta Stock Performance

NASDAQ:OKTA opened at $87.29 on Monday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average price is $81.05 and its 200-day moving average price is $82.32. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $114.50.

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.