Vinva Investment Management Ltd Increases Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Vinva Investment Management Ltd increased its stake in Okta, Inc. (NASDAQ:OKTA) by 8.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,445 shares of the company’s stock after acquiring an additional 552 shares during the quarter. Vinva Investment Management Ltd’s holdings in Okta were worth $551,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Caprock Group LLC raised its position in shares of Okta by 4.7% during the 2nd quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock worth $267,000 after purchasing an additional 129 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Okta by 11.0% in the second quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock worth $124,000 after acquiring an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after purchasing an additional 142 shares in the last quarter. CWM LLC lifted its holdings in Okta by 5.3% in the 2nd quarter. CWM LLC now owns 2,910 shares of the company’s stock valued at $272,000 after purchasing an additional 147 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in Okta by 4.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after purchasing an additional 182 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Trading Up 1.5 %

Shares of Okta stock opened at $77.56 on Friday. The company’s fifty day simple moving average is $74.94 and its 200-day simple moving average is $84.76. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. The company has a market cap of $13.17 billion, a price-to-earnings ratio of -92.33, a PEG ratio of 18.71 and a beta of 1.02. Okta, Inc. has a 1 year low of $66.69 and a 1 year high of $114.50.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.29. The company had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. As a group, sell-side analysts expect that Okta, Inc. will post 0.19 EPS for the current year.

Insider Activity at Okta

In other Okta news, CEO Todd Mckinnon sold 200,512 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $75.21, for a total value of $15,080,507.52. Following the transaction, the chief executive officer now directly owns 8,495 shares of the company’s stock, valued at $638,908.95. This trade represents a 95.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Larissa Schwartz sold 2,790 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $2,051,039.13. The trade was a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 475,789 shares of company stock worth $35,701,361. Company insiders own 7.00% of the company’s stock.

Analysts Set New Price Targets

OKTA has been the subject of a number of recent research reports. DA Davidson reduced their target price on shares of Okta from $85.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Piper Sandler cut their price target on Okta from $100.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. Scotiabank reduced their target price on shares of Okta from $104.00 to $92.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 29th. JPMorgan Chase & Co. cut their price objective on Okta from $105.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Needham & Company LLC began coverage on Okta in a research report on Thursday, October 17th. They issued a “buy” rating and a $100.00 target price on the stock. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $98.45.

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.