EPIQ Capital Group LLC Takes $236,000 Position in Okta, Inc. (NASDAQ:OKTA)

EPIQ Capital Group LLC acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,000 shares of the company’s stock, valued at approximately $236,000.

Other large investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Okta by 28.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 152,510 shares of the company’s stock valued at $12,018,000 after buying an additional 33,963 shares in the last quarter. AlphaQuest LLC grew its holdings in shares of Okta by 43.7% in the 4th quarter. AlphaQuest LLC now owns 10,251 shares of the company’s stock worth $808,000 after acquiring an additional 3,117 shares during the period. PNC Financial Services Group Inc. increased its stake in Okta by 7.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,362 shares of the company’s stock valued at $501,000 after purchasing an additional 437 shares in the last quarter. Machina Capital S.A.S. raised its holdings in Okta by 19.9% during the fourth quarter. Machina Capital S.A.S. now owns 4,739 shares of the company’s stock worth $373,000 after purchasing an additional 786 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its position in Okta by 490.5% during the fourth quarter. Edgestream Partners L.P. now owns 38,273 shares of the company’s stock worth $3,016,000 after purchasing an additional 31,792 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Stock Performance

Okta stock opened at $112.44 on Monday. The company has a market cap of $19.27 billion, a price-to-earnings ratio of -321.26, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $116.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The stock’s 50-day moving average is $91.72 and its 200-day moving average is $82.79.

Insider Buying and Selling

In related news, Director Jacques Frederic Kerrest sold 130,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total value of $13,650,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Larissa Schwartz sold 2,740 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $97.59, for a total value of $267,396.60. Following the completion of the transaction, the insider now directly owns 22,125 shares in the company, valued at $2,159,178.75. This trade represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 979,482 shares of company stock valued at $88,072,216. 7.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Westpark Capital restated a “buy” rating and issued a $140.00 price target on shares of Okta in a research report on Friday, February 28th. Jefferies Financial Group raised their target price on shares of Okta from $90.00 to $110.00 and gave the company a “hold” rating in a report on Tuesday, March 4th. Sanford C. Bernstein reduced their price target on shares of Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a report on Tuesday, December 17th. Oppenheimer raised their price objective on shares of Okta from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. Finally, Citigroup upped their target price on Okta from $100.00 to $110.00 and gave the company a “neutral” 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. Based on data from MarketBeat.com, Okta presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.10.

Okta 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.