River Global Investors LLP Has $1.21 Million Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

River Global Investors LLP trimmed its holdings in Okta, Inc. (NASDAQ:OKTA) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,368 shares of the company’s stock after selling 125 shares during the quarter. River Global Investors LLP’s holdings in Okta were worth $1,210,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OKTA. Commonwealth Equity Services LLC lifted its position in shares of Okta by 1.2% during the third quarter. Commonwealth Equity Services LLC now owns 28,302 shares of the company’s stock worth $2,307,000 after purchasing an additional 333 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Okta by 9.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 91,807 shares of the company’s stock worth $7,483,000 after purchasing an additional 7,986 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Okta by 48.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 19,567 shares of the company’s stock worth $1,595,000 after buying an additional 6,350 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Okta by 20.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,018 shares of the company’s stock valued at $5,626,000 after buying an additional 11,891 shares during the last quarter. Finally, BluePath Capital Management LLC bought a new position in Okta in the 3rd quarter valued at $421,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analyst Ratings Changes

OKTA has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on shares of Okta from $74.00 to $88.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Sanford C. Bernstein raised their price target on Okta from $84.00 to $114.00 and gave the stock a “market perform” rating in a research report on Thursday, February 29th. Westpark Capital upgraded Okta from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a report on Thursday, February 29th. Susquehanna increased their target price on Okta from $70.00 to $115.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Finally, Evercore ISI boosted their target price on Okta from $70.00 to $102.00 and gave the stock an “in-line” rating in a research report on Thursday, February 29th. Twenty analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $100.39.

Okta Stock Up 1.1 %

Shares of OKTA stock traded up $1.07 during trading on Friday, reaching $96.55. The company’s stock had a trading volume of 982,258 shares, compared to its average volume of 1,049,905. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50. The business has a fifty day moving average price of $100.63 and a 200-day moving average price of $86.62. The company has a market cap of $16.16 billion, a price-to-earnings ratio of -44.49 and a beta of 0.98. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.20.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.35. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. The firm had revenue of $605.00 million for the quarter, compared to analyst estimates of $586.25 million. Analysts anticipate that Okta, Inc. will post -1.51 earnings per share for the current year.

Insider Activity at Okta

In related news, CAO Shibu Ninan sold 4,279 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total transaction of $445,615.06. Following the completion of the transaction, the chief accounting officer now directly owns 4,111 shares of the company’s stock, valued at $428,119.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Shellye L. Archambeau sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $106.96, for a total transaction of $534,800.00. Following the transaction, the director now directly owns 6,042 shares in the company, valued at approximately $646,252.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Shibu Ninan sold 4,279 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total transaction of $445,615.06. Following the completion of the sale, the chief accounting officer now directly owns 4,111 shares in the company, valued at $428,119.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,779 shares of company stock valued at $1,205,990. 7.36% of the stock is owned by insiders.

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.