International Assets Investment Management LLC Grows Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

International Assets Investment Management LLC boosted its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 7,678.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 27,612 shares of the company's stock after purchasing an additional 27,257 shares during the period. International Assets Investment Management LLC's holdings in Okta were worth $2,500,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Okta by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 15,281,123 shares of the company's stock valued at $1,245,564,000 after acquiring an additional 123,216 shares during the period. Sands Capital Management LLC boosted its position in shares of Okta by 2.4% during the 3rd quarter. Sands Capital Management LLC now owns 5,871,958 shares of the company's stock worth $478,623,000 after acquiring an additional 136,267 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Okta by 3.8% during the 1st quarter. Geode Capital Management LLC now owns 2,154,575 shares of the company's stock worth $185,547,000 after acquiring an additional 78,366 shares in the last quarter. Eminence Capital LP boosted its position in shares of Okta by 7.7% during the 3rd quarter. Eminence Capital LP now owns 1,599,703 shares of the company's stock worth $130,392,000 after acquiring an additional 113,994 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Okta during the 4th quarter worth approximately $99,063,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Trading Down 1.8 %

NASDAQ OKTA traded down $1.68 during mid-day trading on Friday, reaching $92.03. 1,104,068 shares of the stock were exchanged, compared to its average volume of 1,987,378. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50. The stock has a 50 day simple moving average of $98.96 and a 200-day simple moving average of $85.83. The stock has a market cap of $15.41 billion, a P/E ratio of -42.41 and a beta of 1.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.67 and a quick ratio of 1.67.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share 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 during the quarter, compared to the consensus estimate of $586.25 million. On average, analysts anticipate that Okta, Inc. will post -1.51 EPS for the current year.

Wall Street Analyst Weigh In

OKTA has been the topic of a number of research analyst reports. Mizuho raised their target price on shares of Okta from $90.00 to $105.00 and gave the company a "neutral" rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. raised their target price on shares of Okta from $74.00 to $88.00 and gave the company a "neutral" rating in a research report on Monday, February 26th. Canaccord Genuity Group raised their target price on shares of Okta from $85.00 to $95.00 and gave the company a "hold" rating in a research report on Thursday, February 29th. Royal Bank of Canada raised their target price on shares of Okta from $95.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, February 29th. Finally, Piper Sandler raised their target price on shares of Okta from $85.00 to $110.00 and gave the company a "neutral" rating in a research report on Thursday, February 29th. Twenty equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $100.39.

Insider Buying and Selling at Okta

In other Okta news, CAO Shibu Ninan sold 2,500 shares of Okta stock in a transaction on Friday, February 16th. The shares were sold at an average price of $90.23, for a total value of $225,575.00. Following the completion of the sale, the chief accounting officer now directly owns 6,539 shares of the company's stock, valued at $590,013.97. The transaction was disclosed in a legal filing with the SEC, which is available at 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 completion of the sale, the director now directly owns 6,042 shares of the company's stock, valued at $646,252.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Shibu Ninan sold 2,500 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $90.23, for a total transaction of $225,575.00. Following the sale, the chief accounting officer now directly owns 6,539 shares of the company's stock, valued at $590,013.97. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,779 shares of company stock valued at $1,205,990. Corporate insiders own 7.36% of the company's stock.

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.