True Link Financial Advisors LLC Takes $523,000 Position in Okta, Inc. (NASDAQ:OKTA)

True Link Financial Advisors LLC bought a new stake in Okta, Inc. (NASDAQ:OKTA) during the fourth quarter, HoldingsChannel.com reports. The fund bought 6,640 shares of the company’s stock, valued at approximately $523,000.

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

Insider Buying and Selling

In other Okta news, Director Jacques Frederic Kerrest sold 131,426 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.68, for a total value of $10,603,449.68. Following the sale, the director now owns 1,622 shares in the company, valued at approximately $130,862.96. The trade was a 98.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Larissa Schwartz sold 2,704 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.50, for a total value of $217,672.00. Following the completion of the sale, the insider now owns 24,462 shares in the company, valued at $1,969,191. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 369,949 shares of company stock worth $30,201,213 in the last 90 days. Insiders own 7.00% of the company’s stock.

Okta Stock Performance

Shares of OKTA stock opened at $87.29 on Monday. Okta, Inc. has a twelve month low of $70.56 and a twelve month 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. The stock’s fifty day simple moving average is $81.05 and its 200 day simple moving average is $82.32.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Stifel Nicolaus upped their price target on shares of Okta from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Guggenheim reiterated a “buy” rating and issued a $130.00 price target on shares of Okta in a research note on Wednesday, December 4th. Citigroup upped 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. Canaccord Genuity Group upped their price target on shares of Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Finally, Scotiabank upped their price target on shares of Okta from $92.00 to $96.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Okta has a consensus rating of “Hold” and a consensus target price of $104.61.

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.