EntryPoint Capital LLC Purchases 3,027 Shares of Okta, Inc. (NASDAQ:OKTA)

EntryPoint Capital LLC lifted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 94.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,245 shares of the company’s stock after buying an additional 3,027 shares during the quarter. EntryPoint Capital LLC’s holdings in Okta were worth $492,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of OKTA. Charles Schwab Investment Management Inc. boosted its holdings in Okta by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock valued at $79,503,000 after purchasing an additional 17,950 shares during the period. Eagle Asset Management Inc. raised its position in shares of Okta by 21.6% in the third quarter. Eagle Asset Management Inc. now owns 20,784 shares of the company’s stock valued at $1,595,000 after buying an additional 3,685 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of Okta by 211.4% in the third quarter. Cerity Partners LLC now owns 54,412 shares of the company’s stock valued at $4,045,000 after buying an additional 36,936 shares during the period. Swedbank AB grew its position in Okta by 0.8% during the third quarter. Swedbank AB now owns 80,011 shares of the company’s stock worth $5,948,000 after buying an additional 609 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its stake in Okta by 478.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 27,215 shares of the company’s stock worth $2,023,000 after acquiring an additional 22,507 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OKTA. JPMorgan Chase & Co. increased their target price on Okta from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Sanford C. Bernstein decreased their target price 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. The Goldman Sachs Group upped their price target on shares of Okta from $107.00 to $123.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Oppenheimer lifted their price objective on shares of Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company upped their target price on Okta from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $115.29.

Insider Activity at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 3,306 shares of Okta stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $88.85, for a total value of $293,738.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Larissa Schwartz sold 11,552 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value of $1,317,967.68. Following the transaction, the insider now owns 22,125 shares in the company, valued at $2,524,241.25. The trade was a 34.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 763,901 shares of company stock worth $70,880,205 over the last quarter. Company insiders own 7.00% of the company’s stock.

Okta Trading Up 0.3 %

NASDAQ:OKTA opened at $116.72 on Wednesday. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $118.07. 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 firm’s fifty day moving average is $98.81 and its 200-day moving average is $85.04. The firm has a market cap of $20.26 billion, a P/E ratio of -333.49, a P/E/G ratio of 6.42 and a beta of 1.09.

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.