Quantinno Capital Management LP Acquires 12,125 Shares of Okta, Inc. (NASDAQ:OKTA)

Quantinno Capital Management LP boosted its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 236,485 shares of the company's stock after purchasing an additional 12,125 shares during the quarter. Quantinno Capital Management LP owned about 0.14% of Okta worth $18,635,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Okta during the 4th quarter worth approximately $234,992,000. Ameriprise Financial Inc. raised its stake in shares of Okta by 2,135.7% during the 4th 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 during the period. Alyeska Investment Group L.P. increased its stake in shares of Okta by 2,309.4% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company's stock worth $139,693,000 after purchasing an additional 1,699,176 shares in the last quarter. Marshall Wace LLP lifted its position 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 valued at $282,414,000 after acquiring an additional 938,509 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Okta by 874.6% in the fourth quarter. AQR Capital Management LLC now owns 849,642 shares of the company's stock worth $66,952,000 after buying an additional 762,460 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CRO Jonathan James Addison sold 7,005 shares of Okta 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 directly owns 19,067 shares of the company's stock, valued at $1,929,389.73. The trade was a 26.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jacques Frederic Kerrest sold 130,000 shares of Okta stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total value of $13,650,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 154,452 shares of company stock valued at $16,347,360 over the last quarter. Company insiders own 7.00% of the company's stock.

Okta Trading Down 0.1%

NASDAQ:OKTA opened at $124.05 on Wednesday. The stock has a fifty day moving average price of $107.14 and a 200 day moving average price of $92.92. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $124.89. The firm has a market cap of $21.54 billion, a PE ratio of -354.43, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OKTA. Royal Bank of Canada lifted their price target on shares of Okta from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. DA Davidson raised Okta from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $90.00 to $125.00 in a research report on Tuesday, March 4th. Stephens assumed coverage on Okta in a report on Tuesday, April 1st. They set an "equal weight" rating and a $127.00 price target on the stock. BTIG Research restated a "buy" rating on shares of Okta in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. lifted their price objective on Okta from $100.00 to $105.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Okta presently has a consensus rating of "Moderate Buy" and an average price target of $116.80.

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.

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