Mn Services Vermogensbeheer B.V. Decreases Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Mn Services Vermogensbeheer B.V. lowered its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 7.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,700 shares of the company's stock after selling 4,400 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Okta were worth $6,071,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in OKTA. Norges Bank acquired a new position in Okta during the fourth quarter worth about $234,992,000. Ameriprise Financial Inc. raised its position in shares of Okta by 2,135.7% in the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock valued at $150,845,000 after buying an additional 1,828,630 shares during the last quarter. Alyeska Investment Group L.P. raised its position in shares of Okta by 2,309.4% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company's stock valued at $139,693,000 after buying an additional 1,699,176 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Okta by 236.8% in the fourth quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock valued at $176,271,000 after buying an additional 1,572,786 shares during the last quarter. Finally, Sachem Head Capital Management LP acquired a new position in shares of Okta in the fourth quarter valued at approximately $105,592,000. Hedge funds and other institutional investors own 86.64% of the company's stock.

Insider Activity

In other Okta news, CRO Jonathan James Addison sold 7,005 shares of the stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $101.19, for a total value of $708,835.95. Following the transaction, the executive now owns 19,067 shares of the company's stock, valued at approximately $1,929,389.73. This represents a 26.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.68% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OKTA. Susquehanna boosted their price objective on shares of Okta from $95.00 to $105.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. JMP Securities reaffirmed a "market perform" rating on shares of Okta in a research report on Wednesday, May 28th. KeyCorp upped their price target on shares of Okta from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. Loop Capital began coverage on shares of Okta in a research report on Monday, May 5th. They set a "buy" rating and a $140.00 price target for the company. Finally, Stifel Nicolaus upped their price target on shares of Okta from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $121.59.

Okta Stock Performance

Shares of OKTA opened at $98.67 on Wednesday. The stock has a 50-day moving average price of $109.35 and a 200-day moving average price of $99.15. The company has a market cap of $17.27 billion, a PE ratio of 156.62, a price-to-earnings-growth ratio of 4.80 and a beta of 0.84. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $127.57. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.05.

Okta (NASDAQ:OKTA - Get Free Report) last released its earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.09. The company had revenue of $688.00 million during the quarter, compared to the consensus estimate of $680.14 million. Okta had a return on equity of 2.79% and a net margin of 4.85%. Okta's quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. As a group, equities analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

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.

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