Okta, Inc. (NASDAQ:OKTA) Shares Bought by Thompson Investment Management Inc.

Thompson Investment Management Inc. lifted its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 7,743.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,432 shares of the company's stock after acquiring an additional 6,350 shares during the quarter. Thompson Investment Management Inc.'s holdings in Okta were worth $677,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in OKTA. Marshall Wace LLP grew its stake in shares of Okta by 35.5% in the fourth quarter. Marshall Wace LLP now owns 3,583,937 shares of the company's stock worth $282,414,000 after acquiring an additional 938,509 shares in the last quarter. Norges Bank purchased a new stake in Okta during the 4th quarter worth about $234,992,000. Geode Capital Management LLC raised its position in Okta by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company's stock valued at $212,385,000 after purchasing an additional 135,110 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Okta by 236.8% in the 4th 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 period. Finally, Ameriprise Financial Inc. grew its position in shares of Okta by 2,135.7% during the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock worth $150,845,000 after buying an additional 1,828,630 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company's stock.

Insider Buying and Selling at Okta

In other news, insider Larissa Schwartz sold 11,552 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the transaction, the insider now directly owns 22,125 shares of the company's stock, valued at $2,524,241.25. This trade represents a 34.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Jonathan James Addison sold 7,005 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of $101.19, for a total value of $708,835.95. Following the sale, the executive now owns 19,067 shares in the company, valued at approximately $1,929,389.73. This trade represents a 26.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,452 shares of company stock worth $2,697,360. 5.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

OKTA has been the subject of a number of recent research reports. Needham & Company LLC lifted their price target on shares of Okta from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. UBS Group lowered their target price on shares of Okta from $150.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. JMP Securities reissued a "market perform" rating on shares of Okta in a report on Wednesday, May 28th. Westpark Capital reaffirmed a "buy" rating and issued a $140.00 target price on shares of Okta in a research report on Wednesday, May 28th. Finally, Stifel Nicolaus lifted their price target on shares of Okta from $120.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $121.59.

Okta Price Performance

Shares of OKTA traded down $0.26 on Thursday, reaching $100.18. The stock had a trading volume of 2,601,131 shares, compared to its average volume of 3,012,278. The firm has a 50-day moving average of $109.13 and a 200 day moving average of $98.55. The firm has a market capitalization of $17.54 billion, a PE ratio of -286.23, a PEG ratio of 6.42 and a beta of 0.84. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $127.57. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. Okta had a positive return on equity of 0.47% and a negative net margin of 1.54%. The business had revenue of $688.00 million during the quarter, compared to analysts' expectations of $680.14 million. During the same quarter last year, the business posted $0.65 earnings per share. The business's revenue for the quarter was up 11.5% on a year-over-year basis. Sell-side analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

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.