Vinva Investment Management Ltd Buys 552 Shares of Okta, Inc. (NASDAQ:OKTA)

Vinva Investment Management Ltd raised its position in Okta, Inc. (NASDAQ:OKTA) by 8.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,445 shares of the company’s stock after acquiring an additional 552 shares during the period. Vinva Investment Management Ltd’s holdings in Okta were worth $551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new position in Okta in the 3rd quarter worth about $26,000. Blue Trust Inc. increased its holdings in shares of Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after buying an additional 191 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after purchasing an additional 142 shares in the last quarter. First Command Advisory Services Inc. purchased a new position in shares of Okta during the 2nd quarter valued at about $47,000. Finally, nVerses Capital LLC purchased a new position in shares of Okta during the second quarter worth approximately $47,000. 86.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Okta

In other Okta news, CEO Todd Mckinnon sold 224,533 shares of Okta stock in a transaction on Friday, October 18th. The stock was sold at an average price of $74.62, for a total transaction of $16,754,652.46. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Larissa Schwartz sold 2,790 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.01, for a total value of $206,487.90. Following the transaction, the insider now directly owns 27,713 shares of the company’s stock, 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. Insiders have sold a total of 475,789 shares of company stock worth $35,701,361 in the last quarter. 7.00% of the stock is owned by insiders.

Okta Trading Up 1.5 %

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

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 5.55% and a negative return on equity of 1.10%. Analysts forecast that Okta, Inc. will post 0.19 earnings per share for the current year.

Analysts Set New Price Targets

OKTA has been the subject of a number of recent research reports. The Goldman Sachs Group lowered their target price on Okta from $113.00 to $97.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Morgan Stanley cut their target price on shares of Okta from $100.00 to $92.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Canaccord Genuity Group lowered their price target on shares of Okta from $90.00 to $82.00 and set a “hold” rating for the company in a report on Friday, October 18th. Truist Financial cut their price target on shares of Okta from $95.00 to $80.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Finally, Citigroup lowered their price objective on shares of Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $98.45.

About Okta

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.