Frank Rimerman Advisors LLC Purchases 105 Shares of Okta, Inc. (NASDAQ:OKTA)

Frank Rimerman Advisors LLC lifted its position in Okta, Inc. (NASDAQ:OKTA) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,465 shares of the company’s stock after buying an additional 105 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Okta were worth $352,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new position in shares of Okta in the third quarter valued at $25,000. Bank of Jackson Hole Trust bought a new position in Okta during the fourth quarter worth $25,000. Legacy Investment Solutions LLC bought a new position in Okta during the third quarter worth $32,000. Modus Advisors LLC bought a new position in Okta during the fourth quarter worth $44,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Okta during the fourth quarter worth $44,000. 86.64% of the stock is owned by institutional investors.

Insider Transactions at Okta

In other news, CEO Todd Mckinnon sold 233,028 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $82.31, for a total transaction of $19,180,534.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $80.50, for a total value of $217,672.00. Following the sale, the insider now owns 24,462 shares in the company, valued at approximately $1,969,191. This trade represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 979,482 shares of company stock worth $88,072,216. Insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

OKTA has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 price objective on shares of Okta in a research report on Tuesday, March 4th. Robert W. Baird lifted their target price on Okta from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. UBS Group set a $135.00 target price on Okta in a report on Tuesday, March 4th. Barclays lifted their target price on Okta from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Finally, Piper Sandler lifted their target price on Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $114.39.

Okta Stock Performance

Okta stock opened at $112.55 on Monday. The stock has a market cap of $19.29 billion, a PE ratio of -321.57, a P/E/G ratio of 6.42 and a beta of 1.09. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average price is $94.58 and its two-hundred day moving average price is $83.17. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $116.96.

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.