Oddo BHF Asset Management Sas Takes Position in Okta, Inc. (NASDAQ:OKTA)

Oddo BHF Asset Management Sas bought a new stake in Okta, Inc. (NASDAQ:OKTA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 71,869 shares of the company’s stock, valued at approximately $5,343,000.

Other hedge funds also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new position in Okta during the 3rd quarter worth approximately $25,000. Future Financial Wealth Managment LLC bought a new position in Okta during the 3rd quarter worth approximately $26,000. Blue Trust Inc. boosted its stake in Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after acquiring an additional 191 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in Okta during the 3rd quarter worth approximately $32,000. Finally, First Command Advisory Services Inc. bought a new position in Okta during the 2nd quarter worth approximately $47,000. Institutional investors own 86.64% of the company’s stock.

Okta Trading Up 0.6 %

Shares of Okta stock opened at $84.40 on Friday. The firm has a 50-day moving average of $76.64 and a 200-day moving average of $83.72. The stock has a market cap of $14.34 billion, a PE ratio of -239.74, a PEG ratio of 8.93 and a beta of 1.00. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $114.50. 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 Ratings Changes

OKTA has been the topic of several recent analyst reports. Needham & Company LLC lifted their price objective on shares of Okta from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Wells Fargo & Company raised their target price on shares of Okta from $80.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Truist Financial restated a “hold” rating and set a $92.00 target price (up from $80.00) on shares of Okta in a report on Wednesday, December 4th. BMO Capital Markets raised their target price on shares of Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Stifel Nicolaus raised their target price on shares of Okta from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Okta has an average rating of “Hold” and a consensus price target of $103.77.

Insider Activity

In related news, insider Larissa Schwartz sold 2,790 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.01, for a total transaction of $206,487.90. Following the completion of the sale, the insider now owns 27,713 shares of the company’s stock, valued at $2,051,039.13. This represents a 9.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Todd Mckinnon sold 32,516 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $76.22, for a total transaction of $2,478,369.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 607,215 shares of company stock valued at $46,304,810. 7.00% of the stock is owned by company insiders.

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.